Shares in Gunns Limited (ASX:GNS) jumped almost 15 per cent at the end of last week following the dismissal of legal action against its Bell Bay pulp mill in Tasmania.
Anti-mill group Pulp The Mill Inc claimed Gunns was proceeding with earthworks on the Bell Bay pulp mill without appropriate development approvals.
The forestry company has welcomed the dismissal and says the complainant and their legal representatives unnecessarily wasted the company and court resources.
Gunns says earthworks on the Bell Bay project continue on schedule and budget and are expected to be completed in March.
Shares in Gunns jumped 14.58 per cent on Friday, closing at $0.11.
Gunns booked a net loss of $355.5 million in the 2011 financial year.
