Shares in Tasmanian timber company Gunns have plunged more than 15 per cent in early trade today despite a general rise in the stock market. This morning the company’s shares were down 17 cents to just 88 cents.
Yesterday former Tasmanian Premier Paul Lennon conceded Gunns’ proposed $2 billion pulp mill appears to have been shelved. Mr Lennon told a parliamentary committee the project “may not be alive”.
UPDATE: November 21, they’re down to 75 cents.
UPDATE: November 24, now 64 cents …
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