ozzie's are forest gumps, page-2

Not bad if I do say myself with the latest price sensitive update,but then again any bunny could have forecast the Xpress train heading for this wreck of an investment.
A couple points on the selling of the MIS forestry to ANOTHER out of towner.

When were the MIS investors told of this in detail?

The figures that are quoted means on average,0ne hectare of trees is worth at the most,and that's optimistic in the 9 tree scams of gtp,a piddly $1000 rounded up,then start the deduction and xpenses entries

How many times can you claim a forward event when you intend flogging it at the 31st Jan 2012?

I reckon John Lawerence will have a field day with this announcement,and I would reckon it will not be flattering.

Gunns' earnings update rattles market
Posted December 22, 2011 19:28:09

The Launceston headquarters of Gunns, which has been forced to revise down its earnings forecast. (Michael Brooks: ABC News)


Shares in the Tasmanian timber company Gunns have slumped four per cent after it predicted a drop in earnings.

The company has told the stock exchange its underlying earnings before interest and tax for the year are expected to be $30 million.

That is $11 million down on the June forecasts.

Gunns says is partly blaming the revision on a downturn in activity in the housing sector that is affecting its softwood sawmills.

Financial analyst, Matthew Torenius, says the figures are not surprising.

"Gunns is also competing against a number of Asian suppliers for woodchips into China and it would appear that the Vietnamese and the Thais have about a 10 cent to 15 cent cost advantage on Gunns at the moment."

Gunns is also seeking an extension of its core debt financing facilities until December next year.

The company's statement says negotiations to secure an equity investment partner for its northern Tasmanian pulp mill are continuing and eathworks at the Bell Bay site are expected to be completed in March 2012.

Gunns shares closed at 12 cents.