I wonder what they are worth really? A lot of that will be the commercial boats and barges to support the operations, may not be worth what they are on the balance sheet for? I also remember thinking the PP&E spend seemed stupidly low for such a capital intensive business, either the boats are clapped out, old local boats, or they are going to have a huge jump in CapEx sometime in the next few years.
As I said, most of what you need to know about the biological assets is in the notes to the financial reports, its sobering how many ways things can go wrong when you read thru it.
The TL
R is simply too much downside risk.