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26
IN THE SUPREME COURT OF VICTORIA AT MELBOURNE
COMMERCIAL AND EQUITY DIVISION
COMMERCIAL COURT
CORPORATIONS LIST
s ct 2013 2095
lN THE MATTER OF GUNNS PLANTATTONS L|MTTED (rN LIQUIDATTONXRECEIVERS &
MANAGERS APPOINTEDXACN 091 232 209) in its capacity as the responsible entity of the
managed investment schemes listed in Schedule I
DANIEL MATHEW BRYANT, IAN MENZIES CARSON and CRAIG DAVID CROSBIE (in
their capacities as joint and several Liquidators of GUNNS PLANTATIONS LIMITED (lN
LTQUIDATIONXRECETVERS & MANAGERS APPOINTEDXACN 091 232 2091
First Plaintiffs
and
cUNNS PLANTATTONS LTMTTED (tN LTQUIDATIONXRECE¡VERS & MANAGERS
APPOINTEDXACN 091 232 209) in its capacity as the responsible entity of the managed
investment schemes listed in schedule 1
second praintiff
CERTIFICATE IDENTIFYING EXHIBIT
31 October 2014
the Plaintiffs
Date of document:
Filed on behalf of:
Prepared by:
ARNOLD BLOGH LEIBLER
Lawyers and Advisers
Level 21
333 Collins Street
MELBOURNE 3OOO
Solicitor's Code: 54
DX 38455 Melbourne
Tel: 9229 9999
Fax: 9229 9900
Ref: 01-1772953
(Kimberley MacKay - [email protected])
This is the exhibit marked "DMB-6" now produced and shown to DANIEL MATHEW BRYANT
at the time of affirming his affidavit on 31 October 2014.
Before me:
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Exh¡b¡t "DMB-6"
xm*'*rffiffiåffi'Eëtter to
g$Gdüne
rc¡el ?t,
Sfte€t
mdbotrlrðùm
¡trr nu*Írs¡ian Le6al Practltiorcr rrdürln $e
rnr¡an{'¡_r r.f f.h,: l..eBra.l pyohesåon Act æt}?.
G
rowers regard i n g Th
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ng
CUNNS PI*ANTATIONS LTD nsN
Registered Offic€;
PO
3ó 0e1 232 20e
AËSL No. 23S701
78 l^¡n<lsây St lauüceston TAS 7?50
A
8ox 588 Launceston TA5 7250
wholly owned subsidiary of Gunns Limited ABN 29 009 478
.l48
Telephone; (03) 6335 5290
lnt: +61 3 6335 5290
tacsimile: (03) 6333 0646
lnt: +61 3 6333 0646
2nd Morch 2012
Deor Grower,
GPL Woodlol Proiecls
Quorlerlv Grower Updole
Morkels ond Horvesls
Ploniino Ootions
I cnd
2
Mcrkets for export woodchips into the north Asio reg¡on from Tcsmonic continue to be very
light with prices continuing to be sofl os o result of the high Austrolion dollor, confinuing high
ovoilobility of plontotion fibre from clecr foll plcntotions in moinlond Austrolio ond increosed
competition from foreign, low cosi suppliers.
The thinning of the GPL Woodlof Projects remcins very problemotic.
As indicoted in Augusl, we hcve secured soles of o limited volume of wood from lhinning
operotions in GPL Woodlot Projects 2O0l ond 2002. This hos included o limited number of
plcntolions in most need urgent need of thinning. As previously mentioned priority is being
given lo the thinning of Plonting Option 2 plcntotions thol ore in need of thinning to reduce
competition from the unpruned stems on the pruned stems thot will be grown on unlil
cleorfoll.
lf thinning does not occur for Plcnting Option 2, this would hove o negotive impoct on the
long term silviculturcl objectives of growing veneer logs os set out in the relevont PDS for
eoch project.
Oplion ì will not suffer if lhinning is not performed. There is more flexibility
regcrding the monogemenl of Plonting Option I (lhe ì3 yeor pulp log regime), os thinnings
ccn be deloyed such thot horvesis ore performed when the wood con be sold into more
fovouroble markei condilions.
The trees in Plonting
Thinning operolions for Plonting Option 2 hod been progressing of o significonlly reduced
level bul hove now been deloyed os a result of exlended shutdowns of lhe Smortfibre
woodchip mill of Bell Bcy in Norihern Tosmonio due lo low woodchip export demond.
For further informofion, Growers should refer
to o
list
of Frequently Asked Questions (FAQs) on
the GPL web site ot:
The figures below outline lhe stolus of Auslrolion woodchip exporls in relotion
Jcponese ond Chinese woodchip morkets for the period Jon - Oct
201
to both the
l.
JAPAN:
The figures show the delivered cost on o Yen/kg bcsis from the vcrious suppliers os well os the
%
mcrkef shcre of thcl supplier.
Austrolio's morkel shore over the period Jon to Nov
storting morket shore of 35.7% down lo 25,8%.
201
I
hcs decrecsed by 2B%, from a
Supplier
Yen/kg
Austrolio
Chile
South Africo
20.14
25.8%
18.34
26.4%
18.7 4
13.7%
Vietnom
Thcilond
14.64
163%
1s.55
a
oø7
/.o/o
Shore
CHINA:
ihe delivered wood costs into Chino from vorious suppliers on o US$
per bone dry tonne bosis (Note: CFR is o delivered wood cost which includes lhe cost of
oceon freighi) bui excludes the cost of insuronce'
The figures below show
These costs demonstrcte how high Auslrclio's delivered
Supplier
Vieinom
lndonesio
Thoilond
Auslrolic
CFR
171.59
lBó.Bl
193.97
232.58
USD BDT
wood costs ore.
Shore
51.32%
15.31%
19,5%
10.1%
ln oddition, soles ore increosingly hoving to be mode in $US in order to meet the morket, wilh
Auslrolio being the lcst supplier in which soles were denominoted in the supplier's domestic
currency.
Growers in Plcnting Option I will hove received nolificotion from GPL lhct il (cs cgent for
Growers) hos signed o Wood Sole Agreemenl with Gunns Limited for the wood grown in
Plcnting Option l, on substontiolly similor terms to those conloined in ihe Droft Wood Scle
Agreement. Refer to the following Grower updote:
Mill%2O -%2OP
I
anlin ç%20
O
pI io n%20 1 %20 only%2O-%2]F lN At. o df
The GPL Boord is currently considering whct further guidcnce if con provide Growers in the
GPL Woodlot Projects with regords lo lhe future vclue of their woodlols.
Plcniing Option 3
The originol silviculiurol regime outlined in the Woodlot Project 2001 prospectus for Plonting
Oplion 3 (Rcdioto Pine - Veneer ond Sowlogs) wos lo corry oul o non-commerciol thinning
cost ct opproximotely oge 9. This would hove reduced the
thinnings would hcve followed of oge l4 ond oge 20
ond
commerciol
to
5OO
stems
stond
ond finol horvesi os o cleorfell of oge 25. The cost of this operciion (the non commerciol
(i.e fo woste) of the Growers'
ihinning of oge 9) to growers would hcve been opprox $1390 per woodlot.
GPL's lndependent Foresler hos previously recommended thot the plonned non-commerciol
lhinning be reploced by o commerciolthinning of oge
11 if possible.
We hove secured c morket for the commerciol lhinning of oll of the plonlolions in Woodlot
Project 2OO1 Plonting Opiion 3 (Rodioto Pine - Veneer ond Sowlogs). This commerciol
thinning will give o benefit of o smoll cosh return os well os reducing the competition on the
pruned slems cnd iherefore enhcncing their growth'
Risk
Monoqemenl
Firebreok mointenonce hos been ongoing throughout summer. Tosmonio cnd NSW (Plonting
Option 3 only) hove hcd c quiet fire seoson, up unlil mid Februory due to obove overoge
spring ond eorly summer roinfolls; however this roinfoll hos leod fo increosed gross growth
which hos now dried off.
- Februory condilions hove dried out significontly ond severol lorge fires hcve
ploce
in Tosmonio including one fire (Meodowbonk fire) thct burnt in excess of 5,000
tcken
ho of scrub, formlcnd ond some eucclypt ond pine plonlolions. The fire burnt through
opprox 50 ho in o Ploniing Option 1 plontoiion in the GPL Woodlot Project 2008, which
correlotes to opproximotely 0.35% of Plonting opiion I for thot project.
Since mid
Pleose refer
lo our Fire Updote on the
GPL website
ot
Gunns Limiled Pulp Mill Proiecl
We cre odvised thot negoticf ions to secure cn equily investmenl pcrlner for the Bell Boy pulp
mill ore continuing. Site eorthworks for ihe project ore proceeding on schedule cnd on
budget cnd ore expecled to complete in Morch 2012'
For more
informotion refer to the ASX (ASX Code: GNS) ond Gunns Limiled Pulp Millwebsite
of:
h l1
o
:
//wwv'4.
g-u n
nseu p mjll o m*P u
-c
I
Roinfoll
.
.
Tosmonio: cbove overoge roinfoll for spring. Ocfober hod cool weother wif h some very
cold nighis ond overcge rainfoll, November hod obove overoge rcinfollwith worm doys
onO nignts ond December hod well cbove overoge roinfollwifh worm doys ond nights'
Jonuory wos on inieresting month with bolh record worm ond cold temperolures, overcll
the month wos wormer thon overoge with roinfoll neor overoge.
Sou'th West slopes region of New Souih Woles: overoge roinfoll for spring ond overoge
minimum temperotures.
The overoll high roin ond worm lemperotures hos resulted in good conditions for tree
growth fhroughout spring ond summer'
Forest Heollh
We ore continuing f o monitor f he plontctions cffected by the leof spot fungi onnounced to
growers in lhe Qucrlerly updote of the l'1 November 2011. The offected plontolions cre
õeing monitored closely ond thus fcr the weother conditions hcve been conducive to lheir
ru.oúery. A further inspection of ihe plontotions will be corried out ot lhe end of Ihe growing
seoson to ossess recovery,
pleose do nol hesitote to visit the GPL website on www.ounns.com.ou/plontotion5' This
website is full of moieriols ovciloble to Growers such os lolest newsletters, grower updotes,
onnuol reports ond lolest compony onnouncements. lf you ore unoble lo occess these
updotes ond would like c copy of lhese moteriols, or if you hove ony furlher questions,
pleose phone us freeccll on lB00 015 023.
Yours sincerely
Gunns Plontotions Ltd
lon Blonden
Chief Execulive Officer
-
GPL
Thinning operotions (commerciql hqrvesting)
Woodlot Project 2001 Oplion 3 D00lTl3óF Thinning, North West Tosmonio
Woodlol Project 2001 Option 2 Thinning DOOlTl3BC, Norih West Tosmonia
.'lr
*
Woodlol Project 2002 Oplion 2 Thinning D03PK2304, Norih Eost Tosmonio
Woodlot Project 2002 Option
1
Thinning D02SQl39J North Eost Tosmonio
.$