Gaining traction looks good, page-89

I suppose I should point out in some ways TFC is like a mining company.

Mining companies state they have X resource and year by year, slowly extract it. The main concerns for miners being
1.commodity price
2. FX
3. Operating costs

Thus when the company starts the development phase, such as waste removal, building of concentrators et cetera, they lose money. Then during the mines operating life they make profits and cover, those losses.

TFS would seem to be the same. The forests owned directly by TFS at current world prices at maturity are worth in today's dollars, AUD $4 billion. They are in the development phase. Here, I will say it again, AUD $4 billion. That means over a 15 year cycle AUD $266 million each year from c.3,500 hectares.

And that's just the wood at USD $2,800 a tonne.

Further stages -
Refining
Down stream processing (pharma)

what would a mining company with these assets be valued at? Would anyone care about small accounting losses?