"I can't help but ask "why now"?"
I imagine that QIN finally disclosed this because Vesna Poljak in the AFR did the research, called Galderma for comment and received one back. She then must have contacted QIN for comment, hence their release this morning. No AFR article, no disclosure it seems.
"And how did Glaucus know more than shareholders?"
because they did their research, and they posted their research and provided links to source documents. For those that read it and verified it, it was very clear all was and is not well.
"Why can't QIN not sell their wood? Has demand dried up to zero?"
They can't sell the wood/oil at the price they want to charge, which doesn't bode well for sales from 2020 when they have massive amounts coming on line. Maybe if the price was (much, much) lower they might create some demand and sell some more. But then they'd have to write down their biological assets and maybe breach covenants on their debt, whilst sales of plantations would dry up because the claimed returns wouldn't stack up.
"As for their oil, Galderma is still selling Benzac containing East Indian Sandalwood Oil."
According to the statement from Galderma, they've discontinued the Benzac product. Distributors are still selling inventory manufactured from the earlier batches of oil though - hence no more orders since 2015, because the product didn't sell well enough.
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