Ann: FUNDING OF UP TO A$8M SECURED VIA CONVERTIBLE NOTE ISSUE, page-9

The odds on this ever happening are extremely low IMO. As are the odds of them getting rivers of gold from sertao.
They’re not even close to production at Sertao and it will cost them more than $8 million to get there.

But it does give them money to keep paying back Cartesian. And as long as they remain solvent the con note holder can trickle out their stock at 10% discount to VWAP to get their return. (Doubt they’ll ever see them redeemed)