RE:RE:RE:CIBC on WFG earningsIt's not valued in any real sesne. Timber is enabling for a mill, but 25 year gov't tenures don't command a vale per se -- unless it's owned (e.g. Acadian timber).
The exception is if you transact it. E.g. CFP has bought timber from CFF before; price was between $80/M3 and $150/M3 as I recall. Call it $100 -- both these names have massive AACs. IFP has 1.66M M3 in BC for AAC, so you could say that's a $200M asset.
So it matters for a sum-of parts valuation technically... but not really given these names trade at below book value. Resolute, IFP, CFP and WFG are all way under.... likely in that order.
This won't show up in the trock pricing day to day but PE and Hedge Funds will look at it I'm sure to know they are paying $0.50 for $1.00 is assets that, per Suncor style activism, is likely worth easily $2.00.
"We own and operate three sawmill operations within the B.C. Interior region with timber tenures having a total AAC of 1.66 million cubic metres."