veneer smoke screen

This company never ceases to amaze with its spin.

Announces plans to build veneer plant at Western Junction near Launceston airport at the same time as a senior sales exec in this area of operations decides to leave the company.

While there is no requirement for GNS to release this information in its entirety, readers should note that the Sales Exec has built the veneer sales up to approx $22 mil PA, enjoyed 30 years service at the company from grass roots up, and has now joined a fledgling listed company (PPY) which is proving up its own range of similar products (for world wide sale) at an exceptionally competitive premium to the tired old GNS resources.

PPY is likely to threaten the heavy carbon footprint of companies like GNS, and I am very surprised at the Tasmanian stockbroker who so unprofessionally went to press recently claiming that if ANZ declined to finance GNS then "someone else would". He was not quoted as clarifying his statement as speculative, but I would assert that it is highly so.

The only sensible thing I have noticed GNS doing is diversifying into other crops, (nuts, grapes etc) and followers of this stock should look for a lot more of the same from their company if it is to survive in an increasingly aware and ethically driven market.

All my comments are offered as an interested amateur, and your own research is advised.

Best wishes,
Lilac

PS My connection with PPY is as a private shareholder.