Given you seem to have your finger on the pulse regarding Colinton's potential percentage of the float I wont doubt you on that score .
My take though is before Colinton had by default been able to convert its loan to shares , now the ball is in AJXs court (providing it is cash flow positive ) as it has the option to be able to pay off the Colinton loan so to prevent Colinton from diluting the shares on issue .
If my take is the case then your statement "Conversion rate from 7.5c per share now down to just 3c per share, with that "option" to convert extended out to Dec 2025." is not correct as the option to convert is firstly AJX's option not Colinton's ?
Thank you for picking up the lower conversion price is on all of the loan , I had assumed incorrectly it was on just the portion of the loan that was added on , AJX should have been more transparent about that in the announcement IMHO .
AJX Price at posting:
1.9¢ Sentiment: None Disclosure: Held
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