GNS seems to be in wind up mode with ANZ calling the shots.
Debts (600+ million) exceed assets by a pretty wide margin.
Without the pulp mill they are toast. Who is going to put in 2 billion cash injection on a line of business GNS have no track record in (pulp mills) with negative market cap and massive debts?
GNS had bravado - paid way over the odds for various assets. Now they are forced into a fire sale of assets into a demoralised market.
ELD is returning to profit
gnspa conversion, page-3
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