Not only that, it would appear according to the announcement...

Not only that, it would appear according to the announcement that no consideration was provided for the transfer.

Now given that these things were worth approx. 32c each (say 40c - 8c), or $640,000, something doesn't quite look/feel/smell right.

Either the form is wrong and some consideration was received, or something fishy is going on.

Either way, you could speculate about the competency of the Director.

AND recent claims about delivering the JORC estimate "early" are a joke. The ASX/ASIC should seriously look at the actions of the AND directors making recommendations and see whether they are appropriately disclosing to the market, whether their statements are true and fair, and whether they are possibly creating a misleading market through their statements.

Also, I wonder how much AND is paying their financial advisor. This hasn't been disclosed and we may find out in the June Quarterly.

Any Joint Venture will dilute existing AND shareholders, without compensating them with picking up a share of an operating mine and diversifying their risk. May also require shareholder approval, who may not actually give it (may require a special resolution) as KCN has a significant stake.

Regards
Marvin