I think interpreting this news as a big vote of confidence in...

I think interpreting this news as a big vote of confidence in the ATR/UUUU deal is stretching it, CSAM have elected to convert the interest due on the con notes to equity (1,851,852 new CDIs) while extending the maturity date for the $5m principle for 2 years to 2026 instead of converting it all to equity at a premium of about 13% at today's SP of .61c price, which would have been a big show of support for ATR/Donald. So CSAM are having two bob each way IMHO.

On the plus side they aren't demanding the $6m be repaid immediately which may have triggered a default as ATR had only $1.232m available cash and credit at the end of the Dec23 Q. and had received $3m from the Tan Riuqingu placement in Jan 24 with the balance of $4 due in March...maybe a director or major shareholder could have ridden to the rescue and ponied up the balance, but IMO con note funding can be very dangerous, particularly when secured by the principle assets of the business, so it would have been good to either have CSAM fully convert to equity or the debt refinanced and the notes paid out.

Of interest is that CSAM have agreed to exclude the MIN5532 and RL2002 tenements from their security for the con notes to allow those tenements to be transferred unencumbered to a J.V. entity, I suspect UUUU must have raised this as an issue during their due diligence. According to the ATR 4th March J.V. update, UUUU should have completed their due diligence by now so lets hope we have a positive outcome soon. GLTAH!