Robin Gray purchased 100,000 new shares in the Launceston timber company at a cost of $55,000 to take his shareholding to 488,901.

The purchase was made indirectly via superannuation funds and RT Gray and Associates, of which he is a director.

Richard Millar also made an indirect purchase via Viann Investments Pty Ltd, of which he is a director, of 33,644 shares at $18,672 to increase his portfolio to 4,899,997 shares.

Gunns' stock is trading at 60 cents.

It had been trading as high as 65 cents at the start of the week but still has much ground to gain after suffering a 30 per cent drop in worth on the back of a 98 per cent profit

drop for the half-year, announced late last month.