Quote Originally Posted by Southern Lad View Post
I’m guessing that the purchase price may be at least $1m per hectare, so has used up a fair chunk of cash on hand. Depending on subdivision section average size and lie of the land in terms of space required for roads and reserves, there may be 1,000 sections to be developed. In terms of not swamping the market, I’m assuming these will be developed and sold over quite a few years.

Decision of MCK to participate in the DRP and muted CDI May 2021 dividend level now makes sense.

Given yesterday’s announcement stated that settlement had already occurred, I’m surprised the continuous disclosure rules didn’t require an announcement as soon as the purchase was unconditional.

OIO approval disclosure in due course may detail the land purchase price.

Overall I’m happy that CDI have secured a significant land holding in a very desirable area, which will underpin their development pipeline for years to come.
Unless the area purchased increased after 1 Jan, the price is under$1m/ha. Note 16 af the annual report only noted $56.3m of land purchase commitments. 67ha was bought.
Its still unknown if this AR commitments figure also included some other smaller purchases because the atea of land it related to isn't stated.