@JID @EmDe Thanks you are both correct. Not having invested in...

@JID @EmDe
Thanks you are both correct. Not having invested in this industry before I wasn't aware that the accounting standards which I have now looked up do actually suggest this is the appropriate methodology. I do however find it very hard to reconcile these enormous gains in valuation on biological assets with reported profit (ie I am not sure that this is the most conservative way of accounting for this), but it is what it is.

When I had previously looked (some time ago), I believe the business prospects if executed according to the company's plan are excellent (allowing for execution risk, particularly with the consolidated monopoly they are intending on creating on all products sandalwood). However, it is going to take me many hours of research to get around this.

Can I ask- what are your near term catalysts and what are your target prices? Sometimes the more complicated investments to get your head around are the most profitable. And given the long lead times and costs, is there anywhere I can find out the unit economics? I guess in many ways this is more like a mining company with large capital investment for subsequent pay off, except there is no meaningful way to accelerate the development so first mover advantage is far greater.


Thanks again