Gunns Limited (GNS) said it was unaware of information that could explain the recent volatility in its share price. Yesterday, GNS shares fell more than 17% on rumours that its Bell Bay pulp mill project in Tasmania would not proceed.
The company dismissed the rumours and said the pulp mill remained on track to begin construction once financing was secure.
"The company does not have any information which provides an explanation for recent changes in the price of its securities," the company said.
In response to the ASX query, GNS also reiterated prior guidance for the full year to 30 June 2009.
The company noted it has not provided guidance for the half year ended 31 December 2008, but said it does not expect to record any material, abnormal or extraordinary items in its results over the period.
Yesterday, Gunns shares fell 18.5c, or 17% to 86.5c.