icarus, page-33

Hi Hagar1

Your questions and lack of answers is very informative.With a $4mill guarnteed up front payment and a agreement for $50 mill in future years to me this is totally unacceptable,this company Icarus derivates from my investigations appears not to exist.
The reply from Ady states offers have been lodged in which we have nil information so my point is as a share holder is.
Have we received any offers from the Australian interested parties as stated in ADY announcement October 2009.

I am assumming we would prefer a jv with a solid and well known company rather than something untraceble overseas.

If anybody can prove to us they are a well respected and asset backed company i will be pleased to hear from them,otherwise we should demand ADY to make full disclosure to its share holders all previous offers received so a comparison can reached.

Or do we simply accept ADY views and accept an offer from a totally unknown company with a guarnteed $4mill payment and carrot dangled under our noses of an (agreed hahaha) royality of $50 mill.Surely this must be guarnteed to carry any weight.Otherwise we are giving away a major asset for a fire sale price of $4mill in my estimations it should be more like 30 to 40 million.Once this deal is done Icarus can simply walk away with the asset and sell it for a huge mark up price,Without spending $1 dollar towards production.

I am voicing my opinion because it just all doesnt add up.

These comments are my opinion only.DYOR