RFF Webinar, page-149

It's not just that Bonitas has said the orchards are overvalued it's said they haven't gone up in value in 6 years!
Anyone who knows anything about agricultural land values in Australia knows that is a ridiculous statement to make & completely ignores the fact that RFF makes capital improvements to their properties that increases their productivity & value far in excess of the capital expended.
Not to mention the fact that RFF only buys land that has water rights attachwd which have gone up massively in value over the last few years with the drought.

If Bonitas had suggested that the land was just overvalued they at least would have had some credibility, to suggest the values haven't changed is just plain stupid.

They really wasted the $100k's they spent on their ivy league educations if this is the result.