Ann: Application for quotation of securities - CNJ, page-10

If they sold enough to cover the conversion (if it was management conversion) that would not worry me at all especially in light of the on market buying previous.

One thing is certain we have a crapload more money in the bank at a very useful time, a time we can convert that money via the drill bit into significant new discoveries.

This will be why the options have been converted now IMO, either management have done it to put money into the companies coffers or they have requested the holders of the options do just that for the same reason.

If it had been management selling some even to cover conversion I would have expected that to have come out in the Friday announcement or Monday at the latest. Management buying or selling is usually reported very quickly.

Anyway it goes we have over half a mill more in the bank..pretty handy at this particular time IMO.