What we have to realize is that their is really no market out there for sandalwood, and the company's ability to grow sandalwood is poor! 2 harvests to date, both bought by the company, in 2012 they were saying heartwood was worth over $212,000 tonne. The recent TFS 2002 sale yielded only $79,000 tonne. The company predicted 30kg per tree of heartwood in its prospectus, and for years after that, the result 6.88 kg per tree, a massive reduction. Add those 2 together, then add in a 52% survival rate for the trees, and the result is a squashed banana! A whole tree less a half, less two thirds, less three quarters, leaves very little! They need to show they have the ability to grow the product in the first place!
QIN Price at posting:
29.5¢ Sentiment: Hold Disclosure: Not Held
