The problem here is TFS does not own the trees it's the growers...

The problem here is TFS does not own the trees it's the growers who get to sell the timber and according to their Product disclosure statement it is to go to public auction as cleaned logs. If they don't want to sell it at public auction they can collect the timber at a place of TFS choosing and do what they like with it, it is after all their sandalwood. TFS does not own trees it is simply a forestry management company and this is stated in their own product disclosure statement. Shareholders are holding out for the harvest and the resulting profit from the sale of the timber but there is no TFS timber to sell. TFS will have to buy the timber from the growers at public auction and they are quoting growers $115,000 per ton of heartwood. This does not leave a lot of profit for TFS shareholders. We need TFS to plant trees for shareholders not have to buy it from growers. The share price has fallen 30% over the last three years as management has sold off our equity and has not planted trees for our benefit. It is simply time for management to start taking shareholder returns into account and start building shareholder value. This has not been done by management to date