In its first public statement since Gunns told the market it had struck a $150 million deal with Singapore-based Richard Chandler Corporation, the corporation outlined its ``investment framework'' for Gunns.

Top of the list of its principles is ``social value creation'', including job creation, environmental sustainability and the establishment of a sustainable future for Tasmanian forestry. The corporation also states it will consider the ``degree of social licence and broad-based community support'' and it wants a strong corporate governance plan that establishes the company as ``an ethical and respected contributor to the economic vitality of Tasmania''.

The release makes no reference to the $3 billion Bell Bay pulp mill.

Wilderness Society spokesman Vica Bayley welcomed the principles set out by the corporation and urged the corporation to steer Gunns away from building the mill.

``We take some element of heart from it. If he runs this investment framework, as they term it, over the Tamar Valley pulp mill it will reveal that it fails on a number of different levels,'' Mr Bayley said.

``If they stuck to it people should have some confidence the pulp mill would not go ahead.''

TG Financial's Tony Gray said that the meaning of the ``investment framework'' was open to interpretation and doubted the corporation would not pursue the pulp mill.

``The numbers before Christmas indicated the pulp mill would be very profitable,'' Mr Gray said.

The Richard Chandler Corporation is undertaking its due diligence process which it expects to finalise next month.

Mr Gray said the corporation would be using this time to test the basis of those profit estimates and check details of Gunns' contracts and asset sale processes.

``They'd want to have a look at the full analysis done by the company in terms of the pulp mill, not just what has been put out to the market,'' Mr Gray said.

Shareholders must approve the sale at an extraordinary general meeting in April.