"written off" you say Neil?? Seems a lot gets "written off" but it would be good to know why I think? Wasn't there something similar in the case of the $1.2M owing to CGB by Volcon (Pnina and Sholom) - was "impaired" or "written off"?
What about the tenements held once by CGB in South Queensland, were they "written off" as well? Surrendered? Why was that?
You know the ones I mean, the ones that cost shareholders 105,000,000 shares in QBL (now CGB). The vendor was Volcan Queensland Bauxite Pty Ltd and Volcan South Queensland Bauxite Pty Ltd. The shares at the time were worth $0.215 that's about $22.5M worth! Shareholders approved the transaction of course...
DYOR
What Happened Bauxite Tenement EL 7301 NSW, page-4
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