Tag: GNS

Struggling Tasmanian forestry products company Gunns is continuing to try and raise fresh capital after the earlier plans were wrecked by the withdrawal of a cornerstone investor.

Embattled Tasmanian timber group, Gunns has cleared a big hurdle in its plans to turn itself into a pulp company with the $2.3 billion project cleared to proceed by the state’s Environmental Protection Agency.

Tasmanian timber group Forester Gunns Ltd was a market star yesterday with a surprisingly strong surge in its share price after it issued a short statement that on repeated reading was actually a statement of the group’s corporate strategy.

Gunns Ltd, the troubled Tasmanian timber group, has made its last attempt to remain viable with a restructure and board changes involving power figure and chairman, John Gay, and supporter and former Tasmanian Premier, Robin Gray.

The sharemarket is nervous about the future of forestry company Gunns Ltd after it revealed a 98% fall in first half profit yesterday.

Gunns (GNS) held its annual general meeting in Tasmania today, telling shareholders that its much contested Bell Bay pulp mill will be highly competitive in the global market.