With many of our forest investments approaching harvesting age, this question from investors is understandable because it is an indication of when to expect investment returns.

Indicative harvest dates are reported each year in the investment’s annual Financial Statements, and these reflect the expectations of the original Prospectus to harvest exactly at tree age 28 years (when the trees had reached maturity). However, these date were not definitive and are unlikely in reality.

Harvesting throughout New Zealand faces a number of constraints, namely the combination of predicted high log volumes, status of essential infrastructure such as public road quality and capacity, rail and port capacity and log storage, plus contractor resourcing and availability (logging crews and trucks).

These practicalities mean that the harvest of our investors’ forests is likely to begin a little earlier and finish later than originally expected. As a responsible forest manager, we must also harvest in a way that protects the land and minimises environmental impact, and this will necessitate longer harvest timeframes.

As we get closer to harvest, we will be in touch with investors to discuss our proposed harvest plan for the best way to harvest your forest. Until then, our annual reporting will continue to reflect the original harvest dates.