May 2025

In the last update I said we were waiting for Koppers Logs to inspect our plantations and give an opinion on current and future value. I am still waiting. I am told they have staffing issues and a large job several hundred kilometres south of our locations. I am staying in touch, but cant push too much.

I also let you know I had moved our cash reserves to term deposits, which have now matured and been cashed in. Timing proved to be in our favour, for once, as I kept track of the old portfolios value as if we had not sold up. At the time of re-entering the market, the day after Trump announced a hold on tariffs, the old portfolio would have been down just over $100,000. The new investments are up and down daily, but averaging about a $30,000 increase. I expect a very turbulent year, however dividend payments are predicted to be strong.

So hopefully we are back to being in cruise control and I will let you know as soon as Koppers give their opinion.