Mt Noble Investors' Partnership No.1
Progress Report
08 August 2000


I apologise for not keeping you up to date with reports and photos, for over two years now!
Happily it does not of course make the slightest difference to your trees whether I communicate with you or not. And be assured, Dugald and I do inspect them from time to time to see if anything needs doing. We also liaise with the landowners and have kept the insurance current.

Here's Dugald's latest report:
Report from D K Rutherford - Forest Inspection - 20 July 2000

P. radiata. Framing Regime. 7.7ha approx.

The trees are looking extremely good following the boron application, although terminal dieback (a symptom of B deficiency) was observed in two very small areas (less than 6 trees) which may have been missed. There was some sign of possums present but no significant damage seen.
Average stand height of 3-4m but in a sheltered lower valley 5-6m. This area could be pruned and converted to a clearwood regime.
Recommendations: possum control be carried out by the Frames (new landowners).

Douglas-fir. Main Block. 18ha approx.

The trees are looked very healthy after a good growing season. The block varies from an average height of only 1m at the west end to a good 3m average at the east end. The west end and lower middle section have quite an amount of wind deformation which should reduce as canopy closure occurs. There was some possum damage in the eastern section of the block.
Recommendation: Possum control work be carried out by the Frames.

Douglas-fir. Haydon Downs Boundary. 3.5 ha approx.

The trees in this block are looking excellent. They range in average height from 1.5m to 3.5m from west to east, due to wind exposure .
P. radiata Pruned regime. 6 ha approx.

Trees looking extremely healthy. The stand is variable in height due to the topography and rabbit and hare damage at the time of establishment. There are three sheltered sections where tree height is 5-6m and they are now due for a low prune of selected stems.
Recommendations: A low prune of 400 stems per hectare be carried out in selected areas in the next few months and further pruning be scheduled for next autumn as more of the block reaches a prunable size.

Accounts & Contributions

The estimated costs of the above and other expenses this year are:

Pruning this spring & next autumn - $2,000.00

Consultant/Pruning Supervision - D Rutherford - $500.00

Insurance for fire & windthrow to May 01o/s - $490.25

Warren Forestry - Management 1998 to 2000 - $500.00

TOTAL $3,490.25

$ to hand $ 10.47
Balance required $3,479.78
Amount per share (22) $ 158.17

Perhaps if all partners would contribute say, $160 per unit now that should last until next May or thereabouts. Five of you have two units and three have four.

Please send your cheques payable to 'Mt Noble Investors' Partnership No.1' to Bruce Thomas with the slip below.

Tax Loss for year to 31 March 2000
The share of loss for year to 31 March 2000 is $31.40 for Bruce, Andrew W, Maurits, Peter and Brian and $62.80 for Viv, Itamar & Andrea and Andrew C.

Change of Landowner
About a year ago the Frame of Culverden bought the farm from the Dingles. Don & Kate live there. The change of owner does not affect your partnership or forest assets.

WF News
We have now planted nearly all of our fourth large partnership's forest stands. It is called Triple Ridge and has some cypress as well as the usual radiata & oregon. So what started with 35 hectares on Mt Noble and 8 brave and wise investors is now about 1,000 hectares in 23 stands owned by 207 investors. Any more and we will have to take on staff. At the moment I'm working full time on forest management and partnership administration, and Dugald and Andrew are planning a 100% multi-site Douglas-fir scheme in their spare time. They are also threatening to devote more and more time to the business in due course. Watch this space.

Site Visit & Partnership Meeting?
Only three out of eight of you are local residents now so perhaps the next time one of the 'foreigners' is going to be here let us know and we'll try to arrange a trip to Mt Noble.

In the mean-time just keep sending the cheques!

Best regards,

Charles Etherington

Warren Forestry Ltd, New Zealand forestry investment provider
Warren Forestry Ltd, New Zealand forestry investment providerWarren Forestry Ltd, New Zealand forestry investment providerWarren Forestry Ltd, New Zealand forestry investment provider