G'day Dugsab. Have just run over a few numbers as a result of...

G'day Dugsab. Have just run over a few numbers as a result of this CR and looks a bit like this.
First, re governance, this would surely apply.
Trading is not permitted under the law in any circumstances if the person trading knows unannounced, price-sensitive information. Prior to trading, directors need to consider whether the market is fully informed of all material price-sensitive information. Such a decision is often complex, and based on the particular circumstances at the time of trading. Where the decision is a difficult one, best practice is to err on the side of caution and consider not only the law but how the trading could be perceived by the market.

I think that it is fair to say that negotiating for a TO agreement towards getting a ML , which in the company's own words, are an "integral milestone" in the company's progress to mining Agate Creek, would represent "un-announced price sensitive information".
So, with the CR, one would have to say that the Directors would have to be taking up CNs and not ordinary shares.
The full issue of ordinary shares, presuming, from regular past experience, that they will get it filled
@ .003, so another 333,333,333 shares goes on to the Issued Capital.
Let's just make it simple, on a prima facie basis, there will be 400m CNs issued @ .005 and the Directors will be contributing $1 million and they convert to the equivalent of 200 million shares between them.
With all CNs being converted to shares, the overall issued capital will go to something like 4 .1 billion.
If the above occurs, and not taking into consideration that they will take shares in lieu of interest payments, the Directors alone will then hold around 40% of the issued capital.
And that's not including (very) close friends and associates, already in the Top 20, so, it's easy to see how they will and have been doing things entirely to suit their own circumstances with scant concern for ordinary shareholders.

This announcement is as close as we will get to management actually telling us that they have settled the TO agreement and awaiting the ML decision and, as usual, we have to try to read between the lines.

But, when your using 15% money, you'd reckon that professional financial experts wouldn't think that that's too far off and I'd like to quote you "Interest will reignite once updates reignite."