Opto,Don't have to wait for 2 years to the time when the saw...

Opto,

Don't have to wait for 2 years to the time when the saw mill will be useful to GNS, FEA may not be able to survive any more. Just think how FEA can survive with $23m MIS revenue to service $200m debt plus tens of $millions company running cost?

Yes, FEA said its NTA=66c/s, but didn't GTP also said its NTA=$1.80/s just a few months before its collapse? Have forgot?

The only hope for FEA seems to be waiting GNS to rescue it.

Last year GNS paid $350m for Auspine. As a result, banks refused to finance the whole mill any more and GNS had to find a 50:50 joint venture partner - GNS had thus lost 1/2 of the mill for good.

This time if GNS would be stupid enough to takeover FEA with its $200m debt, then GNS would lose the remaining 1/2 of the mill - the whole pulp mill dream would be gone!

So the hope for FEA is very slim, even if GNS would indeed abandon the dream of pulp mill, as many have said for a long time that the mill would not be financially viable.