I guess we could agree we are all in the subjective zone, but I think you are missing the point haka. What land sales are there that the valuer has drawn on to establish his/her value. There are none equivalent to prime farmland with toasted trees welded to the land, no fencing etc so the valuer is guessing high. The bidder could well be right on the money. I did post a valuation given to me by a skin in the game property owner based on current land sales and current clear-up and re-fence costs a short while back. It was very near the bidder's offer and way under KPT's book value for the land.Seems after Keith Lamb gave a self-serving 'no' to KI Phoenix’s offer the bidder leaks to the Australian so he is then squeezed to make comment. His failure to advise the ASX in a timely fashion could be interesting. What are the other offers he alludes to but has failed to disclose.
Regardless this puts our asset in play with the variable being the price.
Interesting dilemma for KPT auditors who must be considering the accuracy of the valuation in our books! What is fair value according to licensed valuer guidelines? 'Where a willing buyer and willing seller agree a price?.
Take no notice of the close 5% higher yesterday and again today +5% - both with very thin volume.
