timhb / todha, page-10

To be perfectly clear...

If sold now, the property will not raise the $89mil which it was valued in Jan09 at with on-going enterprise (Timcorp growers).

The intelligent investor website conducted detailed analysis earlier this week on the bonds.. Research was backed by current land price valuations provided by the local elders (real estate) branch.

Worst case scenario was $73 per bond or total land price after firesale of $43mil.

At current prices, to lose money on this investment the property would have to sell at over 75% discount to fair value.. possible by highly unlikely