More steps (are we there yet?), page-49

I don't get the 0.04%. It has stated 10,000 Hectares and Legune Station is 180,000 Hectare which gives me ~5.5% and secondly that figure is of the total title area not the useable are of the station given there is 60,000 Hectare of floodplains. Nor does this include accesses tracks and roads I suspect.

Secondly the $60m figure was quoted back in the original deal...in the press.
http://www.farmonline.com.au/story/3578001/legune-station-hopes-for-60m/

Lastly, the $1m rental is a myth as there isn't any arrangement in existence that supports this and before that happens there is substantial capital works required on the station before that even starts. Even then it is a questionable proposition as it leaves the new owner at risk of both cost, modifications to the property and no future earnings potentials but a possible capital works repatriation programme.

It isn't ideal for a new buyer by any stretch. The best approach is for SFG to exercise the Option and take the existing earnings from cattle as a supplement to offset costs of PSD and why they aren't doing this raises questions about the viability of the whole project.

Time for a market update by the company I think.