From reading through all of todays announcements I can see more good news than bad news. It was obvious that there was not a signed JV deal in place - otherwise it would have been released to market before AGM. And with everything falling apart in the Eurozone, it is no wonder it is hard to find $2.3 billion.
What is good news is that Gunns are/have restructured their business with one goal in mind, the pulp mill. All other revenue means are out the window. Also, I believe that it is quite obvious that this project is going ahead, as a local it is easy to see that this is a project that Tasmania needs to kick start the dwindling economy. As for if it is in the best environmental interests for the state, I am unsure, but I do know that it would not be allowed to be built if it is any worse than all the other industries already lining the Tamar.
For what happens next, I think there is only a matter of time before the JV is sorted out, it may be a few months, but it will happen even if Lara Giddings (State premier) has to slash health funding even more so the state government can pay for it.
So I am in a definate BUY and HOLD situation. I think the SP can only stay the same and slowly go up from here.
What are your thoughts?
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