pulp mill invalid, page-148

Zwu

Yes I saw that as well. I went and checked the numbers against GTP accounts and bascially saw that the book value suggested in the article of $725m or $740m? was right but GTP stated it only had 176k hectares of plantation land contrary to the article. If that is right then the value is $2800/hectare. What I suspect is happening is that the company does indeed have 270k hectares but not all of that is Plantation forest. Some could be access roads or other industrial use land and maybe some could be cattle land which sells at a much lower price. I just dont have the information to tell.

So yes it is hard to say until we see greater detail from the liquidators but perhaps a midpoint of $1800 and $2800 gives $2300 which surprisingly is what we were suggested in our thread some time back. Also remember the $500m mentioned was just an estimated by someone and not actual fact...just speculation based on the amount of land on the market at the moment.

Lord