For context, compare to Interfor or CanforCFF has maybe 750 million feet of lumber capacity plus a powerplant worth ~$120M. Let's assume that they end up with just CFF could be worth $139 million (7 billion * (1/14)). That's maybe $3.32 per share for CFF.
Future state rising tides will carry all boats, and IFP and CFP are undervalued by at least half. But if and when CFF catches up to their depressed level currently, once the assets are sold and the lenders are appeased, you have an easy $3 or $4 share.
THAT, I suspect, is the reason for the rally. If I have an X% change of turning $0.58 into $4.00, that's going to get some attention. It's unlkely the panic selling is a thing now that it's turned the corner given seasonality and lumber markets, overlaid on a soon to be lower interest envrionment that will juice both the housing and R&R markets.