Hmm. I should be embarrassed to find this out after I've bought...

Hmm. I should be embarrassed to find this out after I've bought some ARD months ago. But I stumbled on this just now.

http://www.*.com.au/sponsors/743/argent-minerals-0743.html
http://www.goldencross.com.au/corporate-information/company-directors/

In Argent Minerals, Kerry McHugh, Stephen Gemell, and David Timms are either part of the current management or used to be involved in Golden Cross Resources. Naturally as directors, they all hold shares in ARD, in the low millions, 1-5% each.

"Argent has entered into Farm-in and Joint Venture Agreements with Golden Cross Operations Pty Ltd a wholly owned subsidiary of Golden Cross Resources Limited (ASX:GCO) under which Argent may earn up to a 70% interest in each tenement-see the description of each project for details."

As far as I can understand, so what's been happening is, whenever ARD spends some money drilling a tenement, GCR gives ARD more ownership of that tenement. Someone confirm!