Ann: Exercise of Options and Investment by Directors, page-44

Sorry, think you have this one wrong for a number of reasons.

The options were an incentive for delivering a higher share price, which he did, and being so far in the money their exercise was never in question. Whether or not the drilling was delivering free gold in panned RC chips or not even any alteration to log, Dean was going to exercise so it doesn;t matter what he knows about current drilling.

Current drilling only started last week and Dean would have had to have meetings last week to finalise the Shaws private placement for the 20M shares sold. Really, this must have been set in motion before any material gold indications were available imo.

If anything looks questionable, it's the selling of 20M shares to fund oppie exercise. The only accusation that could be levelled was that Dean new of unreleased bad news and thus decided to sell shares to cover oppies instead of investing fresh equity. That seems absurd in relation to a just started gold programme, where the implication realistically won;t be known until assays come back, because unlike base metals there isn;t a great read from logging or handXRF (unless very high grades).

It is reasonable to assume Dean selling shares to cover the oppies instead of investing fresh equity shows low confidence in the company's basket of projects and future share price performance, but that is a possibility almost irrelevant to one small infill drill program of old projects already fairly well tested and valued by the market at very little anyway imo. It's also quite reasonable to assume Dean doesn;t have the horsepower and circumstances to risk another $150k into a company his job and financial future is already heavily exposed to.

I honestly think there is nothing to see here either way. Nothing for the bulls and really nothing for the bears. The lesson is hand out free PR's not oppies that require conversion and explanation... like DRE and pretty much the entire junior market has moved to now anyway.