OMG, this is fantastic INSTA. As you said, 150 acres MORE that can be monetized in other ways. Now look at this.
Using my MIDRANGE numbers from the other post, we see $10,000 per farmable acre - that's $10,000 x 150 acres = $1,500,000 revenue PER YEAR just from growing on HALF of THIS tract!
Now... we have around 15,000 acres under our control, with around 5,000 expected to be farmable. 5,000 / 150 gives us 33 TIMES this from the first 150 acres. That's 33 x $1.5M = $50,000,000 revenue per year from farming if Contel were to grow on it all. Sure, we'll probably have a mix of grower scenarios, so maybe reduce the expectation by some factor. But THINK about the EARNINGS on that, and get your calculator out with the real estate sector P/E. What did we use previously? P/E = 26? We are in for a REAL RIDE!!! We're looking at a tremendous valuation here!
And that's just farming/growing operations on 1/3 of the land. As you said... much more land to monetize in other ways - 10,000 more acres!!
