Ann: TFS TO RAISE $37.9 MILLION VIA PLACEMENT AND, page-9

re: Ann: TFS TO RAISE $37.9 MILLION VIA PLACE... Thats about the figure they'll need to have a crack at the Reward's spicatum assets. 5500 advanced hectares I think at say $6000/ha ...

Looks like they want in on the spicatum story. That is where my money would be ... at least with spicatum they know the quality of timber these plantations are producing because everyone has been destructively sampling for years.

It is their biggest threat to ignore these spicatum assets IMO as the Indian model still has risks unknown in production and profitability.