NTA is down because they sold the New Zealand carbon asset. They...

NTA is down because they sold the New Zealand carbon asset. They then bought even more valuable land for the system-5 dairy but with cash and new additional debt via BankWest. When they pay down the new BankWest loan the NTA will go straight back up.

The reported large loss is because they got a special ruling from the ATO to record the sale that way. The reported loss is a positive for shareholders because future profits can be offset against that loss thus reduce tax liability.