Does anyone know the current situation with Gunns and George Town, Tas?
I've done a fair bit of googling this morning and all I can find is info about the controversy, not what the plans are for Gunns in George Town are now.
Any thoughts or knowledge would be most appreciated.
Thanks
RLMy guess is that it wont fly mostly due to finance.
It's in bad shape.
Everything is on hold because no-one is willing to give Gunns finance at the moment. They could not have picked a worse time to try and raise capital and their shares price has plunged as well.
Gunns face a lot of hurdles. Still unable to buy land from farmers etc to build their pipeline to supply the mill and opposition to the project continues to grow. State Government is under intense pressure to withdraw its support.
Gunns' main hope now appears to be finding a joint partner.
But it's all looking a bit sick.
Consensous seems to be it won't happen for a number of years … if at all.
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