Thursday, February 24, 2011

Some interesting info passed on by TAP.

From Tony Gray's column in Monday's Examiner: - Directors (Gunns') are in a difficult position - if they come to the view that the pulp mill will probably not proceed, then a major write-down and loss will be recorded and debt covenents breached. ( I heard Tony Gray say as much on radio last year)

In other words, Gunns cannot admit that the pulp mill is not going ahead. If they do then the company will fail.

1 comment:

  1. That's the foursquare of it. They, or somebody, keeps spreading rumours about just about every financially viable pulp and paper company in the world as a jv partner. It's vaudeville at this point.