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The 70% is totally A WAG. I have no idea, having lived in Tallahasse during my time in college, I can tell you from what I saw, most of the swamp is south of I-10 and there really isn't that much swamp in the area.

Being a paper company I would think the 70% is totally low, I'm not sure what someone would pay for 400-500 acres of land for hunting, fishing, family investment, heck maybe even timber, etc. But I'd be willing to bet its more than a few hundred bucks an acre.

Looks like we could do another analysis with these new ideas and send St.Joe well north of the current valuations.
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