Have Gunns and their directors John Gay and Robin Gray been honest with their shareholders, let alone the public?

Over the years, they have alluded to having finance for their mill - then why is John Gay now globe trotting in search of funding?

How could the Tasmanian Labor Government and their helping hand, the Liberal opposition have consistently agreed to provide fast track legislation, funding, compensation, and public resources to a company and their proposed pulp mill when, so far, no financial institution has seen the merit in lending money to such a monstrosity?

Let’s face it, the Tasmanian Government has been bowing down to Gunns timeline of deceit. How smart, how clever does that make the Government? It’s simply … dumb.

OCT, 2004
ABC online 2004/10/28/1230085
“Gunns managing director John Gay says the company has the funding for a billion dollar mill and would not need a partner.”

OCT, 2007
ABC online 2007/10/07/2052976
“Gunns director Robin Gray says the company will have no trouble funding its proposed Tamar Valley pulp mill, whether or not the ANZ approves finance for the project.
Mr Gray says the board has plans in place to ensure the project will be funded, no matter what the bank’s decision.”
“I don’t think you’d need worry that we’ll have the finance in place to complete the mill.”
“We have been working on that for a long time, and will continue to do so and I’m sure the mill be built.”

ABC online 2007/10/08/2053099
“Mr Gray says Gunns has been working on funding for the venture for more than four years and will have no trouble funding the mill.”

6th MAY, 2008
ABC online 2008/05/06/2236587
“The Treasurer says the Government signed a tripartite deal with Gunns and Forestry Tasmania in January. It provides up to 15 million dollars compensation for Gunns if future legislation interferes with the supply of timber for its planned mill.”
“Gunns Executive Chairman, John Gay, said yesterday that the company’s financial backers had requested the deal.”

Which financial backers?

30th MAY, 2008
ABC online 2008/05/30/2259967
“He (John Gay) says there is strong international interest in providing finance and Gunns is close to finalizing a deal.”

Strong international interest by whom?

If this is all true why has Gunns needed an extension on their agreement to the Government, to the public?  They have had near on 5 years to secure funding.

And if it’s not true, shouldn’t the ASX (Australian Stock Exchange) be investigating this company and its actions on behalf of its shareholders? It is illegal to assure shareholders about an issue, which later proves to be incorrect. It is also illegal for a company board to cast doubt over its company and artificially cause the share price to fall then have private individuals snap up cheap shares just ahead of a good news announcement. Doesn’t Mr Gay like to snap up cheap shares? This is called insider trading. In other words if Gunns already has the financing why then do they need the extension from the government, why don’t they start building?

Are John Gay and some of its directors playing games with the ASX?

Gunns want ‘cast in stone promises’ from the government, such as access to a resource for 20 years, plus not to be held accountable if they destroy peoples livelihoods or affect their health, plus ‘special’ legislation to land grab. All the while expecting the government and the public to not only believe everything they say, but to bend over backwards to accommodate an out dated, environmentally destructive dream of a couple of old men, who won’t live to see the destruction their pulp dream will reek.

Trusting ones money in shares either to Gunns itself or to any financial institution that backs Gunns or the pulp mill is leaving one exposed to a financial down fall and the madness, of these greedy old men.

A kind and clever corporate run Tasmanian government indeed!