pre-open, page-9

But that's the point though... the lease is only worth something if they can follow-through. If they do not exploit the lease in time it'll revert back to the government.

And right now the market has decided not to attach any value to the potential of the extra land, because CFR hasn't done anything yet with the land it already has.

This is also why the acquisition will come into play once CFR starts producing, because then it'll go from being valued at 0 to whatever it's commercial potential is.