So one group of banks wants the projects wound up, BAB want them to keep going. Investors want a return and have 43000 different opinions on the best way to do that.
There are 3 main offers with a comment there are more coming, along with 43000 combinations of reasons on which one is better.
It's fine to have your opinion, it's your investment. My opinion will cease to matter by Christmas unless MN decide to stop the vote. Either PPPL will get 50% before MN's meeting, or Gunns will / won't get 50% at MN's meeting. But by Christmas the existence of the projects will have been decided. Either the big banks or BAB will be happy.
This process is happening and our 43000 opinions are pretty much irrelevant now. There are only 3 choices, PPPL, Gunns, or nothing. We can choose to ignore or deny this but we'd still wake up Christmas morning to find our investments are GONE, with NO HOPE OF ANY RETURN. Objections after MN's meeting won't matter when the banks have sold of everything for what they can get.
We all want more. I want to find my financial advisor at the time and demonstrate just what I think of him putting his commission before good advice.
My own reasons for voting for Gunns are simple: more likely to succeed and save my investment since recommended by the receivers, Gunns fee is lower, and PPPL has an unholy association with GTP staff and I'll never trust them to achieve anything. Both offers want money from the harvest and so from investors, we'll never make what GTP said we would, but we've still got to maximise chances of a return at all and minimise losses as much as possible.
Blacktree are out of the decision, be it fair or not, but that is the fact. Those defaulted lease woodlot holders have been disenfranchised through no fault of their own, and no it isn't fair to them. some of them may nnot even know who they are. I have no power to change this situation.
Investors have much less power than some think they do, and anyone who thinks this process is messy now should try to imagine what trying to save your investment will be like if it's been handed to the banks and they've sold it for what they could get. There are only about 100 readers of this forum, so that might be 0.2% of investors. Not much coverage but a good example of investors' lack of power, even with themselves. Anything said in this forum means very little overall and won't affect the vote results.
But to those reading, I don't know how I can say this any clearer:
DESPITE ANY AND ALL OBJECTIONS, WISHES, DEMANDS AND OPINIONS, IF PPPL OR GUNNS DON'T GET IN YOUR INVESTMENT IS LOST.
All other considerations are secondary (or less).
GTP Price at posting:
12.0¢ Sentiment: None Disclosure: Not Held