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The Examiner gets it wrong again on mill finance
Pulp excitement once again got the better of The Examiner Newspaper, jokingly described by Launceston locals as the "Gunns Gazette" after having said EARIER TODAY ...."The announcement late yesterday came as industry pundits expected early news that Gunns finally had financial backing for the proposed $2.3 billion Bell Bay pulp mill. The company's annual meeting is in Launceston today. An announcement on pulp mill finance was expected by Christmas but sources say that it could come as early as today.....
The Examiner's willingness to believe its industry sources on the pulp mill once again saw the paper embarrassed when it REPORTED LATER... "GUNNS Limited still does not have a confirmed joint-venture partner to help it build its $2.2 billion Bell Bay pulp mill, the company told its annual meeting this morning. Gunns chairman Christopher Newman told shareholders that the company had expected to announce its preferred joint venture partner by now, but the due diligence process had taken much longer than expected"....
You've got to love that last line. "the due diligence process had taken much longer than expected".
Yeah only about 6 years guys longer!
More to come on AGM protests later.
RAIN ? WTF, It may have been forcast but it didn,t happen, protesters appeared to represent the wilderness society and TAP sea creatures died and a model mill was dropped. still no finance as Guns debt builds...
ReplyDeleteThanks anon. I did not attend the protest but thought that it was raining Launceston during the actual protest. It certainly rained elsewhere in the Tamar Valley. Thanks though anon, I stand corrected. Did you attend? It looked like a good turnout.
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