It might not be in the interest of Carnaby (CNB) directors,...

It might not be in the interest of Carnaby (CNB) directors, MAJOR or MINOR HOLDERS
to give free carried 17.5 % of the major asset Greater Duchess to Russell Delroy and friends.

There would be very lucrative official and board member positions and possibilities
to get branches of the business into the own pockets like Delroy is doing
for Capricorn/Nero Resource fund assets in DCX

Free carried 17.5 % is more than 17.5 % shares depending on the amount of investments
and dilution needed until decision to mine.

The deal with CNB would likely comprise its shares and cash.
Compared to Hammer deal of 20 million, the DCX rights are central of the most well studied resources.
https://hotcopper.com.au/threads/ann-hmx-hammer-to-sell-70-of-mt-hope-sub-blocks-to-cnb-for-20m.7928828/

If you sell 5 % of Duchess DCX would 5 million AUD + 5 million in shares be suitable,
the price should be higher after the scoping study in May

DCX property could be used for take over as the ownership has been spread

Largest CNB owner is at level of 4.7 % and 20 largest holders have less than 35%




https://carnabyresources.com.au/wp-content/uploads/TopHoldersReportApr24.pdf