Norm wasn't too busy to talk to the media when the "project" was launched and we all got sucked in big time. But on a more positive note, my gut feel is that Mac Bank will hang in there. They don't have a lot of choice really if they want to maximise their return. WDR is probably stepping up efforts to find a partner to help offset the repayments. If they find one then we might get out if it, but any hope of recouping the bulk of investments for those who participated in both issues, is now gone IMO. Another one down to experience: just steer well clear of any junior in mining or resources. The only ones who win are management and directors through inflated salaries. Fingers crossed folks, we deserve a change of luck with this joke of a company.
WDR Price at posting:
14.5¢ Sentiment: None Disclosure: Held
