City, I just checked with an island contact, Southern Ocean Lodge did indeed do a deal with the local council a few years back (circa 2013 she feels) to get council to upgrade a classic bush track into Hanson Bay to a formed single lane road. My contact could not remember the details but something like S.O.L. paying 7 years rates in advance to be used for the road upgrade. - they got the upgrade very promptly I am told. You see the wheeling and dealing does go on w.r.t. roads and councils. Also happens on the mainland quite extensively with city councils requiring significant contributions to developments along the roads. Somehow I think KPT will be waiting awhile for council to upgrade whatever without both a contribution and a bank guarantee. And yes, KPT pay council rates but rates are but taxes - they place no obligation on council's to upgrade a ratepayer's services over anyone else's. And then council will probably be factoring in the rates loss from Yumbah quitting the island if the port goes ahead. So what might be the best outcome for KPT? 3 years for a port and 3 years for suitable roads? Looks like a large new share issue from my chair.
KPT Price at posting:
$1.96 Sentiment: None Disclosure: Not Held
