Ann: Foresta NZ signs supply contract, page-15

lobsta, no question about the aim of processing to raw pellet stage but there are other existing potential makers. Examples would be any manufacturer that needs long fibre chips for cardboard making or for ceiling panels could supply wood chips and accept the residue back after extraction of terpenes etc.
Foresta then needs no immediate capital for that part of the process.
Back when the Tasman Pulp operation existed, long fibre processed chemically entered with short fibre ground material to produce quality newsprint. ( Worked there as a student in 1958). All of the terpenes were waste from the caustic cooking process later used as boiler fuel.