The proposed mill
Timber company Gunns has admitted for the first time its planned Tamar Valley pulp mill may never be built.
The troubled company announced its annual results on the Australian Stock Exchange on August 28, reporting a net profit after tax of $64.5m for the 2008 financial year.
That represents a drop of about 27 per cent on last year’s result.
The result is also lower than a recent downgraded profit forecast of $67m.
Gunns statement says it is still pursuing finance for its planned $2b pulp mill, but has for the first time admitted it may never be built.
Shares in the company recently slumped by 25 per cent in three days and its price closed at $1.67 before a trading halt was announced last week.
[from ABC News]
Our man on the spot, Paul County, captured a winning smile from Tasmania’s own ‘royalty’ when Princess Mary took her children for a stroll through town.
Missing in action was Crown Prince Frederik of Denmark, who was probably still in recovery mode after a wild last night in Beijing, dancing and drinking at a nightclub where the theme was Hugh Hefner’s raunchy magazine and mansion.
A few days later, and Mt Wellington glows in a clear sky. Squatting stoutly in the path of the Roaring Forties ‘our mountain’ provides a constantly changing tapestry of colour and texture.
Falling snow at noon today hides Mt Wellington
Much of southern Tasmania is isolated this morning after wintry conditions forced road closures around the state.
The Midlands Highway was closed after three accidents involving double-B trucks.
Hobart’s Southern Outlet also iced up and roads further south were also closed to traffic.
West Coast roads are also closed indefinitely.
Dangerous Banks is a large shifting sandbar about 35 kilometres off the tip of north-west Tasmania.
Raging currents, winds and giant swells have kept humans at bay, but on June 27 three surfers finally conquered Dangerous Banks, it was revealed this week.
Australian veteran surfers Ross Clarke-Jones and Tom Carroll and young Hawaiian Ian Walsh were towed on to 10-metre waves as part of their odyssey to surf giant winter swells around Australia for a pay television special Storm Riders, which is expected to be released next summer.
Clarke-Jones, regarded as Australia’s most renowned big-wave rider, said: “It was more than wild, it was complete chaos. I’ve never seen an ocean so angry and confused in all my surfing days.
“We managed to catch a few each but must admit that the ocean beat us to a pulp that day.
“We were lucky to have all made it to shore, to tell you the truth.”
The team gathered in Smithton on Tasmania’s north-west coast, and, guided by local abalone diver Paul Critchlow, put to sea equipped with two powerful powerboats, six power-skis and a helicopter.
[From theage.com.au]
