QBL Facebook page open, page-107

Yup - that's been my point all the way along on this - not sure why you have mentioned that but yes I do know.

The issue is;

The QBL loan (consideration) of $1.2m made to Volcan by the Directors of QBL (being one and the same as VAC or Volcan) for ML1492 - that being a sapphire mining project - has not been repaid to QBL holders and will probably never be repaid.

The underlying issue must be the fact that the Directors of QBL approved a loan to a company (VAC) in which they also have fiduciary duties. They then move to impair that loan.

The only people losing here, in my view, are the shareholders of QBL. Effectively, they have had a $1.2m asset stripped from their asset sheet for ... well ... nothing.

That was my main point along with the fact that I think that the loan and subsequent impairment has deprived QBL holders of a $1.2m asset.