logo-loader
Kangaroo Island Plantation Timbers Ltd

Kangaroo Island Plantation Timbers options up more land at seaport site

Smith Bay Island is the site of the proposed Kangaroo Island Seaport.

Kangaroo Island Plantation Timbers Ltd - Kangaroo Island Plantation Timbers options up more land at seaport site
This means the company now controls 275 hectares at Smith Bay

Kangaroo Island Plantation Timbers Ltd (ASX:KPT) has negotiated an option to acquire an additional 50-hectare property adjoining already controlled land at Kangaroo Island’s Smith Bay.

The two-year option allows the company to acquire the land for $300,000 and increases the total land under potential control to 275 hectares at Smith Bay.

KPT owns 86% of the plantation forestry on Kangaroo Island, consisting primarily of bluegum hardwood with the remaining 20% softwood pine.

The company intends to harvest the plantations, using the Timber Creek sawmill on care and maintenance.

KPT also proposed to build a seaport at Smith Bay to ship the harvested timber and submitted its draft environmental impact statement (EIS) in late 2018, for which the public consultation period has now ended.

Proactive caught up with the company in June 2019 for an update.

Quick facts: Kangaroo Island Plantation Timbers Ltd

Price: $2.40

Market: ASX
Market Cap: $134.6 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Kangaroo Island Plantation Timbers Ltd named herein, including the promotion by the Company of Kangaroo Island Plantation Timbers Ltd in any...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Kangaroo Island Plantation Timbers enters new growth phase with board changes

Kangaroo Island Plantation Timbers (ASX:KPT) executive director John Sergeant updates Proactive Investors on the company’s plans with new managing director Keith Lamb on board.   The transition comes at a time when the share price is rising and the company has pledged to produce...

on 19/6/19

2 min read