Insignis Forest Partnership
Progress Report
February 18, 2000


Budget & Contribution for 2000
Overleaf you will find a draft budget for this year setting out all likely expenditure, together with notes on some items for your information.
You will see near $570 per unit may be needed to carry out this year's operations and to cover all overheads.
Also enclosed is an Account Statement requesting payment from all Partners of $250 per unit now or by the 1st of March. The Partnerships needs some funds now but not all of this year's investment, so the balance can be paid in the second half of the year if that suits. We will send out a further statement in the winter.

Site Reports:

General. This growth season has been excellent for your forest stands and the young trees have already doubled or tripled in size since spring. Regular but not excessive rain, and few hot dry windy days may not suit some city folk but is ideal for your forests. It is also worth hundreds of millions of dollars to our economy which is still over 65% agriculture, forestry and horticulture. The drought in the 1997/8 season is hard to remember now and certainly not evident in your forests, but it probably cost the country more than a billion dollars.
All three Insignis stands are fully stocked and over the great majority of the area the trees are well clear of competing vegetation. Some isolated areas may need further weed control this year, particularly on Chimney Creek which is a year younger than the other two stands.
Boron, a trace element generally deficient in NZ soils, has been applied to Ramshead and Paratu and will be applied to Chimney Creek next summer. This is important for tree health, form and growth.
No serious problems from pests have been encountered and these will continue to be monitored and dealt with.

Chimney Creek. Last winter the rest of this site was planted and release sprayed. There were two separate areas to be completed and in the autumn these were cleared of scrub by line-cutting since burning was either not feasible or unsuccessful due to the moist nature of the site. The newly planted area appears to be greater than predicted - up to 27 hectares rather than 20. However as advised previously, total stocked area is so far only a crude estimate based on the number of trees planted and the average spacing used. On that basis this forest may be as much as 159 hectares, although from past experience it is likely to be less when more accurately measured in year four using aerial photography and/or GPS.

Ramshead. Now into its third year, the gross area of this stand has recently been measured as approximately 87 hectares using GPS when the helicopter was applying boron.
A minor amount of weed and pest control was carried out last year and both will continue to be monitored.

Paratu. Again there was some further weed control carried out last year. Following recent inspection, only a little further work is contemplated.
There has been no pest control needed here although I note there are wallabies living on the site. I am expecting to hear from Wrightson Forestry soon that boron has been applied.

1999 Audited Accounts, Tax Certificate & AGM. The AGM will be called soon, most likely for a date in April. The Partnership's Accountant is preparing the financial statements for the year ending 31 December 1999. These will be audited and then we can send you a Certificate showing your share of the Partnership expenditure that can be claimed by you against your taxable income. We hope this can be to you by or not long after 31 March.

Site Visits. We have decided to wait until next summer before organising a partnership/AGM trip in Marlborough. This will enable the large Chimney Creek stand to become more visible. However if anyone wishes to visit any of the sites any time, just get in touch and I will arrange it.

Partnership make-up. There are 67 Partners: 37 in or near Christchurch, 18 in Marlborough, Nelson or the North Island, 5 south of Timaru and 7 abroad. Forty-two hold one unit, 19 two, 5 three and 1 five units.

Charles Etherington
Manager of the Partnership

PS: There are now only 25 out of 100 units left for sale in our new partnership 'Triple Ridge'. Get in touch if you want to increase and further diversify your superb forest investment. We think you should!

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