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Combine honey, cayenne, cinnamon, and sherry, then add 100 ml water. Bring to a boil, then cool.
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Slice duck (approximately 5 mm wide), then place into marinade for 10 minutes (or overnight).
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Remove duck before adding peanut butter to the marinade. Cook on low heat until it bubbles (5 minutes). Add water if it begins to dry out.
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Place duck strips onto wooden skewers that have been soaked in water. On a grill pan, cook duck for 10 minutes, turning until brown. Cook in batches and serve with sauce.