Rabbit I agree with you 100%. Another theory which came into my...

Rabbit I agree with you 100%.

Another theory which came into my mind is:

As we are all expecting drilling results sooner or later which might be a company maker and see the SP rocketing, as Directors, they cannot buy or sell 2 weeks before or after a major announcement (I think this is a general rule with ASX).

So taking that into consideration, 2 weeks from now onwards or some time in May we might see a rather massive ann and the SP shoot UP.

Since the options expire in June, I don't think it will look good if the Directors sell then and that can jeopardise lot of things. So the best option was what they exactly did and exercise the options and come June 30 the SP should be $1 + (my prediction only) and every single of the options in the market will be exercised and we all are in a win win situation.

There are 42,642,344 Options exercisable by payment of 7 cents each on or before 30 June 2011. Now do the numbers, its almost $3 Mil to the company.
Also remember " Less than 1% of Yamarna Belt explored so far " and they already have a 1m ounce resource.

My wicked conspiracy theory only and I am gonna LOAD UP MORE.

Please DYOR