I note the following from the original prospectus: 'Issuer...

I note the following from the original prospectus:

'Issuer undertaking: No new bank or structural debt until the major equity raising other than the $2m overdraft facility and in addition any other debt (excluding any structural debt) incurred in the ordinary course of business'

I bet this has been a millstone around their necks - they can't get the finance until they redeem/get rid of the notes. Is this the first step in the process to get mine funding?

As at the last annual report, the top 6 AXOG holders have 75% of the notes - They have the ability to drive a pretty sharp bargain I think. AXO goes nowhere without their approval.

Maybe Schauss has been keeping quiet positive news re funding, in order to get rid of the notes as cheaply as posssible - once the notes are gone, then the good news begins.

AXO need this big time - which bodes well for a good deal for noteholders.

DYOR