ozzie's are forest gumps, page-45

The statement clearly indicates an equity partner - joint venture.

Gunns management has spent the best part of 3 months shopping for an overseas partner. Gunns is financially viable on its own, the equity raising is only needed to get the financing to build the pulp mill.

As for hedge funds, of course they want the mill to go ahead. The value of Gunns will increase 10 fold with a joint partner to build the mill.