Dax: I've held WOOD for a couple years now, ever since it was a reco of the Fledgling (who I no longer listen to btw). I bought at .20, so it hasn't treated me well. At the same time, I kind of like it for the LT. Market cap about $4M (72M shares @ .06). As you said, earned about .02 recent year. They own about 800,000 acres of Brazilian & Peruvian rainforest, and 2 sawmills, all of which has been independently valued at around $40M+ as I recall. They harvest mahogany & cedar in a very renewable manner; ie selective harvesting, no heavy machinery, and do alot of replanting. They say they can sell all the fine hardwoods they can produce, and have a renewable supply valued in the hundreds of millions. Ramirez family owns a very large % of shares. Downsides include: control by a single family; family not very fluent in English nor saavy in investor PR; huge # of shares out; likely manipulation by MH Myerson. I like it because I am sympathetic to the environment (countering that conservative CFO image Madly referred to-gg). The rainforest needs to be preserved and here's a co trying to preserve it by deriving economic value from it in a safe manner. Who knows, someday those 800,00 acres may be worth alot more than $4M.
Max
PS Wesley, nope, didn't pull the trigger on SCMS but I'm glad somebody is! |
