Deals being done?

Some interesting developments over at CNJ. Looks like some kind of small placement in Conico. Ignore the confusion from Si Joe.

From @cobaltblue:

[The directors have] transferred the shares as an off-market transaction at 6 cents. They then used the money to exercise options and presto 300k in the bank for cnj. So the question is, who did they place the shares to at 6 cents? I'm hoping maybe a insto or maybe Mt Thirstys next door neighbour. Fact is they were able to get 6 cents and the price is under that at the moment.

Anyone have a better guess at what's going on?