pulp mill invalid, page-71

I concur Lordelean

But sometimes it need to be refreshed in peoples minds,as I have said before,EBIT,Forward Projection cash flows,and IRR plus DCF are all obvious referrals and have the share price to move to it.

However,if the same application was tied to the Titanic as stated above and you knew then what we know now about the bad design in the bulk heads of the ship and the wrought iron rivets being changed in some of the plates for inferior quality,and the arrogance of the Captain doing the bidding of the financiers and designers,would you have stepped on board?

Hindsight is a wonderful thing,and the Captain of Gump forest is as arrogant even telling the the Instituitions,that is the first class passengers to get lost,while us lot are below the waterline in steerage.

I would suggest everybody take a deep breath!

Updated 1 hour 30 minutes ago


Tasmanian Timber company Gunns' Chairman John Gay says he will not resign because the pulp mill would go with him. (ABC News: Michael Brooks)

Audio: Timber industry analyst, Robert Eastment with ABC Hobart reporter, Sarah Bester on Gunns (ABC News) Map: Launceston 7250 The chairman of Gunns Limited says he has been under pressure to resign from the timber company's board of directors.

The ABC understands there was a meeting ten days ago between Gunns directors and two major investment companies over a 98 per cent profit drop.

Chairman John Gay has told a Tasmanian newspaper that interstate business interests have pressured him and fellow Tasmanian directors to quit the board.

The source of the pressure has not been revealed but Mr Gay is quoted as saying he will not resign because if he did quit the company the planned Tasmanian pulp mill would go with him.

Gunns has been struggling financially, with its half yearly profit plummeting by 98 per cent.

The company is still trying to get funding for the $2.5 billion mill project.

Two other Gunns directors, Robin Gray and Richard Millar have bought tens of thousands of dollars of additional shares in the company over the last month.

Gunns spokesman Matt Horan says the company does not comment on meetings with interstate business interests.

Industry analyst Robert Eastment says he would not be surprised if shareholders were demanding a change.

"There's no doubt at all that major shareholders in Gunns would be very concerned that there was a 98 per cent drop in profit, that's normal for an institutional investor to seek some form of answer and some form of action," he said.

Financial adviser Chris Elliot says it is not surprising that Gunns shareholders would be taking aim at the company's upper management.

"They're looking to make someone accountable for the share price performance over the last six months and senior management or senior board members potentially are those people," he said.

Tags: company-news, timber, tas, bell-bay-7253, hobart-7000, launceston-7250

First posted 4 hours 22 minutes ago