NEW figures on the financial situation of Gunns' proposed $3 billion Bell Bay pulp mill project will be released next Monday, managing director Greg L'Estrange said yesterday.
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Mr L'Estrange told the Australian Securities Exchange that investors should disregard previous financial information about the proposed mill in favour of Monday's update.
Gunns sought a further extension of its share trading halt yesterday. It first sought the halt late last month to give it time to work on an equity-raising prospectus.
The move came after the Singapore-based Richard Chandler Corporation decided not to proceed with a $130 million investment in the company on March 9.
Gunns had intended to use the investment to eliminate debt and prepare for a start on the proposed mill.
Major onsite earthworks were completed by Hazell Bros at the end of last month.
But since the start of this month Gunns' long-time media adviser Matthew Horan has resigned and Mr L'Estrange has been spending more time interstate amid speculation of a company name change and a move of its headquarters to Melbourne.
Monday's market update is expected to include the timing of the proposed equity raising.
Gunns reported yesterday that it was reviewing its next move on legal action by the Tasmanian Conservation Trust challenging its pulp mill permits. Gunns had unsuccessfully sought an order from the court that the conservation trust provide security for the company's court costs in the event the trust's action is unsuccessful.
