The much-anticipated ‘announcement’ by the king-spin company amounts to - well - nothing. Just more hot air with no substance. Gunns has announced no fewer that twelve start-dates for this ridiculous project - how much longer are they going to try and string it out in an effort to avoid going under completely?Posted by Valleywatcher on 29/06/09 at 11:52 AM
We are making progress….one step forward two steps back tote your partner doe see doe, swing them round to and fro.
We are announcing that a partner is with us and we are making progress on the mill with timing coming together at the right time with everything in place while we continue to move forward with time and a partner who will help our share price and we will be making an announcement about good things that will happen in time with our partner.
Ok, so now you have the announcement as we said we would do, so please feel free to buy our shares….no not free shares, you have to buy them, but they are good shares….very valuable…..Posted by Dave Groves on 29/06/09 at 01:20 PM
Read between the lines ... ‘Gunns STILL cannot find a joint venture partner to fund their stinking, environmental killing, native forest eating pulp mill ...’. This announcement tells us nothing. No names given of who this mystery company might be ... no deadlines ... no conditions. It’s all just blah blah blah talk because Gunns committed to end of June to name a JVP *now imagine me smirking and rolling my eyes*
I honestly believed this was going to be the type of announcement Gunns would make, what other choice did they have? It’s obvious they are still struggling to find finance and a JVP who will commit. Come on John, don’t keep us in the dark, we all all dying to know who your preferred JVP is ... LOLPosted by Leah on 29/06/09 at 02:02 PM
I could come out with a press release saying I was potenially about to have 4 hour multipositional sex with a supermodel, but without naming the lucky lass, and her confirming the validity of my claim, I, too, would be talking a load of shit.Posted by eagle eye on 29/06/09 at 05:25 PM
What a joke!! And what’s this “preferred” joint venture partner? Is this to give the impression that there was a queue of them begging to be involved? HA! No news…. is good news, I hope.Posted by Maddie on 29/06/09 at 05:47 PM
They are talking to the tooth fairy .They got nothing it realy is sad gobil gobil you can’t make strawberry jam out of dog shit.And political DEATH for any one who touches this.Posted by steve on 29/06/09 at 06:37 PM
No JVP by the end of June then 120 million to the bottom line and no Gunns.Gay will eventually be brought to book by the relevant authorities and that day cannot be far away.Posted by john hawkins on 29/06/09 at 06:54 PM
Well, I guess Gunns are playing it straight (in true Gunns fashion). Quite clearly they have said that they “have found a preferred joint venture partner”.
I guess they just haven’t told this “preferred” entity yet? (Heck, I’ve found my preferred spouse, but Brad is a bit busy with Angelina and the kids at the moment).
Also, if Gunns is going to use 100% plantation timber in this mill, could someone please enlighten us as to why on Saturday, four days before they have previously promised to announce their joint venture partner, two busloads of Gunns, Forestry and other representatives from overseas forestry companies visited the mess that they made in the old-growth forest at coupe FO-044A in the Upper Florentine forest? A carrot to dangle in front of this “preferred” partner before popping the question, maybe?Posted by Amy Broadbent on 29/06/09 at 07:23 PM
Today we heard another claytons statement from Gunns. We all predicted it.
The Joint venture partner with no name. Its a bit like claiming that a baby is going to born with no evidence of anyone actually being pregnant!
The promised Pulp Mill must now be the longest running ruse in Australian corporate history?
Lets not forget the history of cronyism, cor—-tion and mates deal that have kept this sub-standard proposal alive.
In April Gunns told the ASX that it would update the market at the end of June with finalised terms of agreement with a joint venture partner. Gunns also told the media that it would name a joint venture partner by the end of this month and begin construction on the mill within nine months.
So who is the Joint Venture Partner and why havent Gunns named them. Attempting to talk up a corporate partner out of thin air is not sound corporate stategy. Not in this day and age.
This must be about the twelfth time now that Gunns has promised and then renegged on finance/joint venture deal.
Meanwhile everyone who lives in the region just has to keep things whilst we wait on Gunns.
When will the ASX clamp down on Gunns making these empty misleading statements to the financial regulator?
The other observation about todays non-event is the increasingly enthusiastic support we are seeing from David Bartlett for the mill.
Oh how quickly the wheel has turned.
12 months ago Bartlett couldnt run fast enough from any association with the pulp mill project. He all but verbalised his hope that the project would fail.
In the interim Bartlett would also twice assure pulp mill opponents - once outside the albert hall during the Parliaments Launceston sitting and once to a local Tamar Valley vigneron at the 2009 festivale. There was talk of a love-in between the three young male leaders of Tasmania’s political parties. But that didnt last long and now Bartlett wears his hatred of Mckim on his sleeve. As a consequence Bartlett has ditched his short-lived dalliance with his touchy feely side. Stuff the greenies, I’ll get behind the Pulp Mill. It was inevitable that Bartlett would if he had serious designs on remaining leader.
Mckim himself is not nearly landing enough blows on the Pulp Mill issue and many northerners are missing Peg Putt aggressive attacks on the Government over the Mill. Putts maturity and genuine empathy for the whole of Tasmania is not yet palpable in the young Mckim who is perhaps a little too Hobart-centric in his outlook. Mckim has seemed overy conscious of avoiding typical Green issues like the pulp mill. Thats all well and good, but even the most innovative artists come to realise that they are nothing without their supporters and whilst change and innovation are good, you must meet your supporters needs, not the other way around.
Likewise the anti-pulp mill movement appears to be lacking depth in terms of leadership. For too long now the movment have relied on the Bob McMahons and Paul Oostings to shoulder the load of media work. There seems to be an over-reliance on the good-will of groups like TAP and the wildo’s and it is now time that others stepped up into organising and leadership roles. I will inevitably cop some flak and character assassination for saying so. There are too many people in the movement with talent who are not going out of their comfort zone. Too many sopending too much time in the tent and not enough outside. Too many people happy to waste time on peripheral issues in the hope that the same old faces will be shouldering the load out in the real world.
To borrow a saying from a mate. The war will be won by the best organised.Posted by pilko on 29/06/09 at 07:51 PM
I read the stock market announcement, and I couldn’t help thinking things must be hard; they can’t even afford commas!Posted by Steve on 29/06/09 at 08:55 PM
Cannot tell lie. Our company, Lucky Star #1249 is the interested business for Limited Gunns.
Gunn looks good for takeover. We take forest and land and water and manipulate government to our advantage, yes? Very good.
All OK and waiting for greater taxpayer money to attract our glorious investment. Maybe not build mill, take wood and sell water. We see.
8,000 jobs yes OK. Not here but in Asia of course. Maybe 500 jobs in Australia for our people.
Thankyou please.Posted by Yee Poh Min on 29/06/09 at 11:13 PM
It would seem that the only thing to have changed substantively today is that Gunns is no longer shackled to an ASX recorded date to announce anything furthur regarding the progress of the mill.
You know the one…no bricks, no mortar and only existing as a “hazy” $120,000,000-$150,000,000 increasingly potential debt on the corporate books.
Come on…even the arch sycophant Gottliebsen felt he had to give that little fact a whitewash on todays spectator love-in.
I wonder exactly how long KPMG will allow it to stand? I also wonder what the vibe will be like at this years AGM…after the 2 cent dividend moves from cryptic suspended status to the more realistic, missing in action presumed dead.Posted by ron on 30/06/09 at 12:32 AM
“...Gunns has progressed a detailed process to identify partners for potential participation…”
Yet another release of hot air. Short answer: Gunns don’t have the money to build the mill.
The share price closed only 2.5c higher than its opening price this time, so it seems the stock traders are tiring of this game.Posted by Scott on 30/06/09 at 02:26 AM
interesting tid bit from mathew Stevens at the Oz -
Sodra’s requirements were that a project be certified by the Forestry Security Council, that it use “environmentally friendly bleaching technology”, with a preference for a chlorine-free process called TCF, and that it use 100 per cent plantation forests.
Gunns would seem certain to tick only one of those boxes. It has FSC approval. But its plans involve what it calls an “elemental chlorine-free” process, which is a step down from the TCF standard. And the mill feed would be a 60-40 split between plantation and regrowth forest timbers for maybe five years, at which point it could finally meet what appears to be the Swedish standard.
FSC approval??? can anyone comment?Posted by joey on 30/06/09 at 04:39 AM
I love this one….“Gunns have found a preferred partner”. I mean really ? What does this bloke Carlton Frame take the rest of the world for.
“A PREFERRED partner ? “
As if Gunns have been some kind of review overseas, receiving lots of proposals from the worlds banks and mill operators and creating 3 little piles: “Those we dont want”, “Those we might want” and “Those we might prefer to select”.
I get an image of a starving beggar holding out his hand, but only accepting champagne ham sandwiches, because they are the ones he prefers.
What a load of rot.
They might have found ‘a partner’ and if so that entity might instantly achieve preferential status.
But the implications of the terms used in this report could be seen as very sinister.
Gotta go - Im off to take the trash out so the preferred garbage collection service can come along and pick it up.Posted by Richard Butler on 30/06/09 at 08:32 AM
Bartlett has no idea of the credentials, capabilities, reputation, financing arrangements between Gunns and its ‘preferred’ JVC. How can he possibly, with any confidence, come out in support of this possible arrangement when he has no idea what it is?
Bartlett said – “Today’s announcement shows the company has made real progress and it is a major vote of confidence in the Tasmanian economy.”
How can it possibly be ‘real progress’, nothing has changed, except once again reneging on a promise. A ‘major vote of confidence’ would see the joint venture partner and financiers identifying themselves.
Bartlett said - “Coupled with Minister Burke’s statement supporting the construction of the Bell Bay Pulp Mill last week….”
How can Bartlett endorse Minister Burke’s statement which contained clear errors of fact, that Gunns themselves changed?
How can Bartlett endorse the Gunns pulp mill when he has no idea who and under what circumstances, a foreign company will be involved in accessing resources such as native forests and water?
Is the joint venture partner prepared to wear the flak of being involved in poisoning the environment, water and people? What guarantees are they prepared to give?
What possible changes will be made to the pulp mill design/management etc? Any change, one would have thought would not be what the government originally agreed to and would have to be assessed again, wouldn’t it? Or is that rubber stamp too readily available?
What assurances will the JVC give the Tasmanian government that their involvement will see the Gunns pulp mill benefiting the Tasmanian people rather than ripping off the state?
Until Bartlett knows all that, he’s still just being bluffed by John Gay and cannot endorse basically version 3 of the pulp mill, let alone assure the public that this mill will bring the promised benefits the labor government has spruiked for so long, but has never properly assessed.
It would seem Bartlett is so blinkered, if not completely blinded by whatever Gunns says that he has lost sight of the ball.
It is only when Gunns says jump… Bartlett and co and infact Hodgeman and co … say how high?
Obviously it’s not just the native happy hoppers who are running around in circles for a quick fix.Posted by Claire and Charles Gilmour on 30/06/09 at 04:37 PM
#16 That’s Forest Stewardship Council certification, Joey, not “Security” and Gunns don’t come within a bull’s roar of having it - have poo-poohed the idea and gone with their own rinky dink, in-house Clayton’s certification which means very little.
I don’t think they would ever be able to qualify for FSC certification based on current practices. Fank Strie knows a great deal about this issue. Frank?Posted by Annie on 30/06/09 at 04:52 PM
Yep, Charles and Claire, these statements of Bartlett’s are so far out they’d probably make Paul Lennon blush.
I’d say Bartlett is totally out of his depth in his present job. Maybe not even smart enough for Gunns’ approval. They got more mileage out of Lennon, who did a lot of undercover work for their cause. Bartlett just makes the noises he thinks Gunns, the CFMEU and his ALP strongmen want to hear. Might not be too long before someone decides he’s past his use-by date.Posted by Neil Smith on 30/06/09 at 10:12 PM
Here are the key words/phrases extracted from 16 statements issued by Gunns to the ASX about imminent financing and construction from 2007.
“substantially progressed, completed in the near term, proceed quickly, final stages of completion, commencing on site construction, final terms, finalise the arrangement, strong international interest, active discussions, discussions continuing, continuing to progress, progress discussions, continuing to negotiate, continuing talks, continuing with the project, quickly as possible, move forward, will continue, quickly as possible, progressing, on target, expecting to reach agreement, finalised, moving forward positively.”
There now, do you need any more convincing that there is no spin from Gunns.Posted by Mike Cassidy on 01/07/09 at 11:41 AM
Love your work, Mike (#21)- love it!Posted by Valleywatcher on 01/07/09 at 02:07 PM
Absolutely correct # 18 Claire and Charles Gilmour.
Our back-sliding David Barlett has the competence level of a primary school teacher, perhaps grades 3/4.
Obviously he was the highest capacity candidate among all the Labor ministers, so that’s how he got the top job.
As an aside to this matter, we have the unproven either-way character, the grinning Bryan Green, busily hell bent advertising himself over the radio here on the West-Coast.
Today there was a flyer in the letterbox from the same character.
So who is paying for this junk news and junk mail that is presently polluting the North West-West Coast region?
Will Bryan Green be able to recognize the truth so to answer this question?
This whole obscene Green/Kons saga is enabling these (2) dark horses to continue on the State payroll, so to support the necessary numbers to allow this stagnant government to survive until the 2010 election.
Lucky Tasmania!Posted by William Boeder on 01/07/09 at 06:19 PM
Neil, one only needs to watch how Bartlett holds his chin these days… or maybe it’s not his hand afterall!
How can anyone possibly believe anything Gunns or their minders say? As per ABC online dated 28/10/04 –
“Gunns managing director John Gay says the company has the funding for a billion dollar mill and would not need a partner.”
Maybe Mr Gottliebsen could explain on behalf of Gunns where the money went? Or didn’t they have the money to start with? ... obviously!
When does intentionally misleading turn into blatant lying? … is Gunns following Labor ministers, sorry ex ministers track record, or is Labor following Gunns track record on that front? Who is the chicken and who is the egg?
Misleading shareholders via the ASX causing shareholders to lose money is a criminal and jail able offence.
All the comments that you quoted Mike are fuel to the fire of the impending court proceedings that Gunns Board will find themselves dealing with. In other words, Gunns legally cannot encourage shareholders to invest in Gunns on the premise, of all their comments that you have highlighted, and expect that if they fall over that the ASX will not review the actions of Gunns board, criminally.Posted by Claire and Charles Gilmour on 01/07/09 at 06:48 PM
This announcement by Gunns is just what the Bartlett government needs - more smoke and mirrors, more misreperesentation and a bit of hope that maybe Gunns will take the immediacy of potential financial disaster off the shoulders of the government and get the mantle themselves.Posted by salamander on 01/07/09 at 07:47 PM
1. Send it to Tony Burke, registered mail, and provide a Velcro tab so he can attach it to his suit coat.
2. Send it to this guy - who is the Chairman of the ASX:
Mr. David Gonski, AC. Chairman
and the rest of the board as at February 2009 can be found here:
Make sure they all get this rubbish from Gunns.Posted by Richard Butler on 01/07/09 at 09:24 PM