refinancing, page-8

This is my opinion, but it is not hard to back up.
Port Bouvard state that their deal is for a minimum price of $81million for 483 hectares.
=$81m/483 = $167,701 per hectare.
Now search the net for prices of undeveloped land around Gidgegannup, and you wil find it hard to buy land for over $50,000 per hectare.
here is an example from the same vendor that sold Port Bouvard their land, and adjacent to:
http://www.johngarland.com.au/property.aspx?pid=150544
This is a premium property of 35 hectares at an asking price of $2million which equates to $57k per hectare.
The price here is extreme, and would most likely settle for much less. However at Port Bouvards price the property would be for sale at $5.8million.
Also keep in mind that Port Bouvards initial contract price of $81m could go up in price to $90m, based on final engineering, further stretching the sums.