sale of vic, page-8

The whole debt write of is a farce,

You have to love the irony in us forgiving debt to the tune of US$13.7 million for half of our tenements back. The mind boggles how that conversation went in the deal room.

Icarus: "So we will give you back half you tenements..."
ADY: "Oh ok, that sounds fair"
Icarus: "For 13.7 million"
ADY: "But Uhhh, that debt is owed to us by our subsidiary from a loan we made them. So that effectively means we are paying you $13.7 million for our own tenements?"
Icarus: "Exactly! Everybody wins."
ADY: "Ummm eh err, Ok I don't really understand this deal but lets go with it anyway! We can be seen to be doing nothing while get paid exorbitant salaries!"