I couldn't participate because of work committments which I'm gutted about. I listened to the replay as soon as I could. What a performance from Jim O'Neil!  His lack of knoweldge about financial arrangements he'd negotiated was astonishing and his general arrogance and lack of respect for shareholders was striking.


They basically re-read the press release and then defended accusations about the deal. What wasn't discussed or challenged was the viability or feasibility of the deal and how it's even possible for them to repay the loan. There was no real, good information about operations and I didn't catch the permit being mentioned.


I wasn't sure what the situation was. I was left with the distinct impression that O'Neil was brought in as Waterton's man on the inside. I'm holding because at these levels it's hardly worth selling... and I think we're gonna see developments; the level of righteous anger by shareholders was heartening. I suspect the deal could be overturned but what bothers me greatly is that even a positive outcome could be done over by the time it'll take to get it. Who pays the upkeep of the mine?


Either way, it seems to me that the viability comes down to their performance over the next 6-12 months and whether they survive or "fail" to meet payments. Other than providing cash, have Waterton got any operational obligations whatsoever?  If not, and it certainly looks that way, the deal could never be justified as being in shareholder interests - what an enormous conflict of interest. What a predicament...