RE:RE:RE:RJ valuing 80 cents Good intel.
It's wild though. CFF sold timber tenure in the past for over $100/M3. Sheilds admitted he can only get someling like "high double digits" now though.
Canfor sold some nice tenure recently for $171/M3.
https://www.globenewswire.com/news-release/2019/06/04/1863662/0/en/Interfor-Enters-into-Agreement-to-Acquire-BC-Interior-Cutting-Rights-from-Canfor.html So all equal the Mac tenure, heavy to spruce, is worth at least $80/M3. Looks like my buddy Darryl priced it at $64/M3. That assumes the mill is worth zero. It's not. It's a bette mill than FSJ which Hampton paid $39M for with much less tenure, I think it was 300,000 M3 or so. The mill in FSJ is not running nor economic either. Thus the rebuild Hampton needs to do.
So if this is just crass "value it conservativley and hack it down by half" it's fair but don't call it a price target.
Good detail though so thank you. If you can share more details or the full report please do.
Last thought on RJ is it was a bit sleazy in the past given the relastiohip with Dave Roberts and Ken Sheilds. Maybe there was a falling out or something.