The strategy is based on the company’s plantations on Kangaroo Island, off the coast of South Australia, where it has 15,000 hectares planted of a total landholding of 25,000 hectares.
Tuesday and Wednesday sessions
Managing director John Sargeant will address the CEO Sessions in Sydney on Tuesday, April 9 and in Melbourne the following day, Wednesday, April 10.
As part of its export strategy, the company proposes to build an export facility at Smith Bay and is buying an additional 173-hectare coastal site to cater for its plans.
This is in addition to the 12-hectare site that the company purchased in 2014 at Smith Bay.
Export facility proposed
The company is progressing through the approvals process for construction of a wharf at Smith Bay for export operations.
In this regard, South Australia’s Minister for Planning, Transport and Infrastructure has determined that the two-month public consultation period for the wharf can start.
Members of the public, businesses and government agencies will be able to lodge submissions during the two months until May 28, 2019.
The company will address all submissions received during this period and may modify its proposal to address any concerns and objections or to increase the benefits of the proposed facility to the environment, economy and community.
Environmental effects “minimal and manageable”
It believes that the project will then be capable of receiving approval, given that the EIS demonstrates that its environmental effects are minimal and manageable.
The EIS also demonstrates that the mobilisation of the dormant timber sector on Kangaroo Island is of great benefit to the island, the state and to Australia’s exports more generally.
The company has recently raised $1 million through a share purchase plan (SPP) with 483,250 shares issued at $2 each, a 14.9% discount to the last closing share price.
Funds will be used for additional approval costs, pontoon enhancements, pre-approval value engineering studies and increased contingency.
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