Why did Directors sell shares?, page-17

Morning @Neshekh ...... Just to clear up your somewhat words of misinformation, lets have a look at Rob Watkins brilliant and very timely conversion of his 3M Options.

The cost of his timely conversion calculated like this;

2M Ops @ $0.09 = $180,000
1M Ops @ $010 = $100,000
---------------------------------------
Total Cost $280,000

Total proceeds of his ON MARKET sale $$1,080,000

Current Surplus Revenue from Sale $800,000

However, he still has another 1M Options to convert @ $0.45 when he so chooses, Cost $450,000

So if we add up his Recent Liability Conversion Cost on top of his Non-Current Liability of another 1M Options which he has, it looks like this below:

Recent Liability Conversion Cost $280,000
Non-Current Liability Conversion Cost $450,000
--------------------------------------------------------------------------------------------
Total Conversion Cost Current & Non-Current $730,000


So subtracting both his Current & Non-Current Liabilities From his recent sale:

$1,080,000 - $730,000 = $350,000 Surplus

Please do Not ask me what he is going to do with that Surplus, it is none of my business.

However, having been through a similar situation as a Founding Director of my own Private Co, and them creating a Farm In Agreement with a ASX listed Co, there were many hidden costs for me, especially on the Legal & ASIC formation side, let alone my Exploration Costs over approximately 5 years, just too many to name, but they were significant.

Having said that in the above paragraph, then perhaps you can imagine Rob Watkins Costs too? What about his Tax Liabilities, none of us have a clue and it is his private business and not ours.

So well done Rob Watkins, you have created and continue to contribute enormously to ASX:CNB which is now lighting up the Mt Isa Inlier !

I for one am not complaining about that ! LOL

So below are the Transaction that Watkins completed, Oh, in addition, have a look at the dates which he sold into, yes from the 4th Feb to 7th Feb, look at the chart, time frames and SP, did no damage to me !


Below are the Transactions that took place for Watkins, both before & after.

And the changes after, and note On Market from what is posted in the Announcement, and I dont think After Market as has been previously posted by another poster earlier.

And yes, I have pointed out that he still has 1M Options to Convert @ $0.45 ..... and we do not know as to when he may convert them, maybe next week, maybe next year, who cares, its his No-Current Liability, NOT Mine ! LOL

So Rob Watkins has some cash in his pocket to pay some of those expenses that have accumulated over the years.

Sorry, but I dont have time to go into you misunderstanding of the very Economic Ore being very deep, as it is just not the case in this formation.

I am looking forward to the initial Exploration Targets of the currently known combined formation, even better their first JORC revealing an Inferred Resource !

GLTAH ......... I too like Madam woops, I mean Lady Fanny.

P.S. Any discrepancies please dont hesitate to correct me, as old exploration/miners dont always have have all their fingers to get things correct. LOL