Ann: Atlas and Aurox enter into Port Cooperation , page-8

re: Ann: AGO: Atlas and Aurox enter into Port... I'm expecting not-a chat to the company the other week highlighted the challenges the note structure throws up, but they believed a debt subordinated to the notes would not be an issue. As the notes fall due before this interest free loan (note the interest free -prob a key point I guess), I expect the trustee would be happy-this does not compromise the repayment of the notes.
In terms of crystallising the AXOG option I raised previously, it appears less likely now. If they can get all $ they need from Chinese sources, why bother with another ASX-listed convertible note, esp when this one has given them such grief. They could of course structure it in a different way, but I think it is on the bottom of their 'options' list.
AXOG only.