no increase today will be disappointing, page-12

I have a couple of facts, and a theory!

Fact: The director converted 500,000 options to fully paid shares, so although htey were sold to market, the company still gets $150,000 in their account for the option conversion. A positive, as it will fund admin expenses for a while.
Fact: Sheard is an experienced company maker.
Fact: $81 million is set to come in over the next few months.
Fact: Directors can sell if it's no NEW news coming out - so the upcoming funds injection from BMG is already known.
Fact: A substantial holder (Conglin Yue)with a good investment record has been buying up big in CAP.



Possible Theory: Sheard is entering into a lucrative farm in deal with BMG. A project of this magnitude, I am guessing could mean some changes to the board. I'd say that throwing $81 mill into the pot will give BMG the right to some board representation, so my THEORY is that perhaps some old CAP non exec directors want to see a bit of cash in for their time, and may not even be on the board in 12 months. Maybe we'll get some new directors appointed with more mining experience? Note: That is only some 'thinking outside the square' - nothing substantiated

Highlights from April 20th announcement

 Bonython Metals Group Pty Ltd (BMG) to farm-in to Carpentarias 100% owned tenements at the Hawsons Iron Project, Broken Hill, New South Wales
 This $81M deal represents a staged injection of cash to Carpentaria of $53M plus $28M for exploration costs
 Australian and Asian investor-backed BMG to make an initial $5m cash payment and a further $8.0m to fund exploration and resource definition staged over 3 months with future staged cash and other payments of up to $68 million to Carpentaria
 Carpentaria to retain a 20% free carried interest to the targeted production of 20 million tonnes per annum (tpa) iron ore concentrate
 Total Carpentaria exploration budget on this and other Carpentaria projects boosted to around $10 million for 2010, largely on drilling
 This transaction has the potential to transform Carpentaria into an iron ore mining company in the medium term, that has additional exposure to tin, gold, nickel and coal projects across eastern Australia