with 40-50 million shares held by management of avenira, they...

with 40-50 million shares held by management of avenira, they certainly have a significant holding collectively in the company. The past twelve months has seen progressive steps in building the business. with a stated dso all in operating cost of 181 australian dollars a tonne, they can still make a
significant profit over the 23 weeks if they get a premium on the morrocan phosphate price of 152.50. Lets say 170 us dollars a tonne. 800,000 tonnes over 23 weeks. Cash on hand would be roughly 60 million dollars. Not a super man size profit, but pretty good.

Now, they have had quite some time to consider the 3 million dollar loan, and with theiir significant collective holding, would be strange to resolve the repayment by issuing au xingao shares. even un-australian to do so.

Considering their significant progressive milestones over the last 12 months, it would be a surprise if they couldn't solve the loan repayment by refinancing via bank debt or an extension. also surprised the debt is due now when the au xingao didn't have a director nominated until july to serve on avenira board, after share holder meeting and the then assumed date of confirming loan availability.

Happy with management and their progressive steps to reward share holders with progress to date. ie. yellow phosphate progress, dfs on lfp plant with alees. and dso progress and partnerships.

All in my opiinion.