read the announcement guys - it states that Kim Robinson sold his CNX "to assist in funding a substantial capital requirement in Kagara". He retains 2m options which will cost him $300k to exercise - I would suggest he still has a little bit of an interest in the future of CNX...
let's just hope his trading luck is like mine... if I sell a stock to fund another purchase, the one I'm long goes left and the one I'm short goes right... a reverse double whammy!
it is just a shame that Opes Prime isn't still around, he could have gone to them, pledged his CNX and got a loan for his KZL... Opes could have charged some fees, ANZ could have charged more, and some sleazy hedge-fund could have borrowed the CNX to short... ch-ching! everyone's a winner!
CNX Price at posting:
36.4¢ Sentiment: LT Buy Disclosure: Held