While searching for the press release I stumbled across this:...

While searching for the press release I stumbled across this:

https://www.mediastatements.wa.gov....versity-laws-protect-sandalwood-industry.aspx

This new legislation should be more of a barrier to illegal harvesting of Australian Sandalwood.  I doubt this is material to TFC.

I still wonder whether Australian sandalwood oil is an effective substitute to Indian sandalwood oil.  (I can't smell the difference).  However, now that TFC has been awarded the WA Government contract it should be able to exercise considerable control over this 'substitute'.  It just reinforces that TFC is well managed and acting like a monopolist protecting its product.