ozzie's are forest gumps, page-17

Gunns shares hit 10.5 cents today, this should please Unisuper members as when any volume is offered on the market the share price plunges and they and the 5 other large shareholders with 70% of the company would appear to have no way out.

The market values the company at less than 90 million and no takeover is in sight.

Under 10 cents may see the finish as the ANZ has managed the asset sale and taken the proceeds without the costs incurred by Liquidators.

I ask have they indemnified the Directors over insolvency whilst extracting the sale proceeds?

The leased land with a sitting tenant paying no rent is worthless as are the MIS plantations seemingly now untended standing thereon.

I suggest that the Bank will not roll over the Loans at the end of the month or they would have allowed payment of the creditors.

The last remaining assets of any substance are the possible Pulp Mill Permits but Tasmanians have Gunns tied up in Court over expired permits and a class action.

Until these matters are resolved no sensible JVP would take the risk.

cut and paste from T.T. thanks John
john hawkins on 05/01/12 at 03:53 PM