GNS involvement in the Pulp Mill is far too hard to pull a plug...

GNS involvement in the Pulp Mill is far too hard to pull a plug now. There is a reason why until to day GNS still unable to find any venture finance.Put simply, the math doesn't add up. Sell off more forest asset in Tasmania to pay off some debt won't help.

As some you GNS holder may not be aware, TAS government has been very supportive of the Pulp Mill project so far, but i think things will turn as quick as lighting. Recent budget deficit of up to 800 mil dollars in Tasmania imply not only 2500 public servant may be fired but major project promised during the election now need to be cut off. Tas Gov is now bz trying to cut as much funding as possible, Pulp Mill assistance from Government will be in doubt soon (eventhough the TAS Gov has mentioned they "generally" still supportive in the project atm)

On top of that, MISC announced yesterday they will stop all outgoing internatinal shipments from Tasmania Bell Bay meaning no direct internationl export from TAS, everthing will be re-route to Melbourne port= higher cost. Hope this is not affecting GNS.

GL holders (especially instos holder)

Cheers