JOHN LAWRENCE

If only the large institutional shareholders who now hold approximately 85% of Gunns, took Robert G’s advice. For God’s sake guys, Gunns only “needs one or two Australian banks to loan the project at least $50 million, but preferably $100 million”. Why don’t the instos chip in a bit more, if as Robert G says “shareholders (I think he means joint venturers) are looking at very large profits”. There’s plenty of money available, currently sitting in cash on the sidelines, if the project’s a goer. Perhaps it isn’t and that’s the catch? The disappointing MIS sales for 2009 (down by two thirds) will mean a bit of a shortfall in plantation timber at harvest time in 12 to 14 years time. Which all reinforces Dr Chris Beadle’s doubts about the ability of plantations to support a mill of the size proposed by Gunns. Robert, stop pretending that the environmentalists are all that’s preventing banks from lending to Gunns. And all you TT bloggers, stop getting annoyed by Robert. Turn the other cheek. He’s just an agent provocateur. Read more, Comment here