Short term speculations with shorter's in mind for TFC, page-31

I've read the report and although there are some issues I agree with it does are to seem a bit over the top.

If you focus on the half year result there are a number of concerns that pop up around cash flow but the same concerns have been there in prior years.

As for going the same way as Great Southern and Timbercorp I would hope EY the auditor of TFS (also the auditor of Great Southern) would be more aware of what to look for this time round.

The harvest ramp up will start over the next 2 years so if revenue does not grow as expected and debt levels continue to claim then yes there would be concern.