TIM 0.00% 4.4¢ timbercorp limited

now that the forestry assets have been sold for $345m has anyone...

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    now that the forestry assets have been sold for $345m has anyone bothered to calculate how the payment to the growers comes out per hectare....I will do the calculation soon but others may have formuated a view.....back of the envelope my numbers would look like this (but happy to be corrected)

    93k hectares of trees
    average maturity 6 years ?
    growth rate MAAI 15?
    93k X 6 X 15 = approx 9m cum

    price $200m divided by 9m cum = $22/cum versus $35-40 stumpage currently available....

    Will double check these numnbers when I get back to Oz but seem about a 40% discount............

    any thoughts?
 
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