Agreed that BB has a lot of shares still, although worth noting...

Agreed that BB has a lot of shares still, although worth noting he is effectively free carried after his FFX/LLL sales and director fees.

On looking at the annual reports and director notices, he's up around $4.65m realised profit before tax making some assumptions and inferences about which parcels he sold. I figure on those same assumptions and inferences he's around $3m realised profit after tax.

Now on top of that, and again assuming particular parcels, he's still carrying a cost base of around $3m ($2.5m invested, $457k performance rights), so his net realised position (total sold/earned - total invested) is around $2.1m before taxes, and around $500k after taxes. The latter would be around half what you'd want for how long he's had the money tied up (e.g. at 10% p.a. opportunity cost) but as you note he still has a lot of shares he can sell. I'd also note here that his selling LLL shares for tax reasons is consistent with the tax debt he'd have incurred from his timely FFX sale, so I'm willing to accept that it was done so on that basis, even if in hindsight it appears remarkably fortunate timing for the second time round.

In terms of his unrealised holdings, before halt he had around $11.5m of FFX/LLL shares against a cost base of around $3m, which I figure after tax to around $9.35m. The value of the LLL portion of that, assuming he's still holding, has dropped $5m since we've resumed trading and now sits lower than his most recent purchase at $0.53, as have his (in the scheme of things relatively minor) director performance rights. I don't know how I'd handle losing $5m in a few weeks, even if it was paper profits beforehand.

But even assuming FFX never returns anything, and LLL doesn't get back to where it was, if he sold his remaining holdings he's going to be sitting around $6.2m up after taxes for his time on this journey.

He still has a lot of shares he could sell as you've noted, and accordingly skin in the game, but he's not in any way completely at risk and/or under water like I suspect a lot of us invested here are.

I don't know where I sit on him staying or going. He always invested here for the Lithium, and we have Goulamina progressing. At least we sort of get made aware of his trades with him on the Board.