I believe they want another 3½ years because the yield is still so low, they'd prefer the trees to be grow more. The original prospectus said 9-11 years, averaging 10. Even GTP indicated they weren't going to touch them until 11. Of course in the meanwhile they can also prepare for the harvest in all the ways they have to.
WRT leased land, there was a list of woodlots in each project that were on leased land. I remember since I looked up my own woodlots. I'm looking for the details of where to find it online, the reference is somewhere in the mountain of paperwork that's arrived in the last 6 months. When I find it I'll post the link.
The total in the 2000 project is small, but if you're one of those affected that's no help. GTP defaulted on the leases in one way or another but at least John Young got his millions so I'm sure he's sitting in his riverside mansion worried about investors. If there's one bank I wouldn't pay its Javelin. Those loans should have been offered to the borrowers, they'd have paid more than 38 cents in the dollar for them but they weren't even asked.
GTP Price at posting:
12.0¢ Sentiment: None Disclosure: Not Held
