anz to save gunns bacon, page-11

Gunns have been appointed as the RE for 1998 to 2005 timber projects and will probably be appointed as RE for the 2006 timber project at a meeting to be held on 4th Jan.

The timber projects will now go ahead and provide returns to investors as and when the trees are harvested.

Providing your trees are not in the Tiwi Islands you are not screwed. The Tiwi Land Council has taken possession of trees on their land due to failure by Grt Sthn to pay lease expense. There have been repossessions on other lands where the rent has not been paid but so far as I know such details have not been disclosed.

The grape and olive projects are being wound up so you have done your dough in those projects.