ozzie's are forest gumps, page-46

Could be JV Partner. Please refer below ABC News Article


Gunns in trading halt
Updated February 06, 2012 12:45:23

Photo: Gunns is looking for a joint venture partner for its pulp mill. (File photo: ABC News)
Audio: Shadforths financial adviser, Chris Elliot talks with ABC Hobart reporter, Annah Yard about the trading halt. (ABC News)
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There is speculation the Tasmanian timber company Gunns could be on the verge of announcing a joint venture partner for its long awaited Tamar Valley pulp mill.

The company has requested an immediate trading halt pending a significant announcement to the stock exchange on Wednesday.

It says the announcement's in respect of capital raising and equity investment.

Shadforths financial adviser, Chris Elliot, says it could be in regards to the company's $2.2 billion pulp mill.

"Look it appears to be clearly a capital raising and equity investment into Gunns which could be the final step towards the completion of the mill joint venture so sort of getting closer to some confirmation of a joint venture partner for the mill," he said.

Last week Gunns received an 11-month extension on a $340 million loan to a syndicate of banks led by the ANZ.

Prior to suspension, Gunns shares were trading at 12 cents.