New Sources Energy and Brazilian land for sale @ 1 quarter / square meter? 2020 notes

New Sources is buying 750 hectares in exchange for shares. (The landowner is now a major New Sources shareholder. 

They want to build a solar park.

1 hectare is 10 000 square meters. 750 x 10 000 is 7,5m sq. meters. 

2m EUR / 7,5m sq. meters = 26 cents per square meter to buy

See:

https://www.newsourcesenergy.com/assets/files/2020/200312-New-Sources-Enery-N.V.-persbericht---New-Sources-Energy-verwerft-grondpositie-voor-de-aanleg-van-een-grootschalig-solarpark-in-Brazilie.pdf

Sanity check:

"A productive, sought-after piece of farmland in the US sells between $12,000 and $15,000 an acre, Corzine said, while a comparable piece of land in Brazil costs between $500 and $1,500 per acre."

An acre is 4 046 sq. meters. $500/4 046 sq. meters is 12 cents...

https://www.aljazeera.com/indepth/features/2012/09/2012913112137744956.html