- Pardee Resources Company (OTC: PDER) retains ownership of 47,000-acre timberland in West Virginia.
- Multiple offers were received during the marketing initiative, but none met the company's criteria.
- The company will continue managing the properties for shareholder benefits.
Pardee Resources Company (OTC: PDER) has announced the conclusion of its marketing initiative to sell approximately 47,000 acres of hardwood timberland in central and southern West Virginia. Despite receiving multiple offers, the company determined that none were acceptable and has elected to retain the properties.
President and CEO Carleton P. Erdman stated that the decision followed a strategic review of potential sale opportunities, ultimately choosing to maintain ownership to manage these assets for the benefit of shareholders. This move highlights the company's commitment to maintaining control over significant natural resource assets despite the interest shown by the market.
The concluded initiative reflects Pardee Resources' strategic approach to asset management, emphasizing long-term shareholder value over immediate capital realization. This decision underscores the company's ability to navigate market conditions and safeguard its valuable timber portfolio.
