Chart, page-67

Been in XPE and seeing the impact of a CN I wouldn't be so conclusive. The CN here seems to be at a10% discount and has the following features as taken from the Prospectus in italics :

1. There is no interest payable on the Convertible Notes. However, the Convertible Notes are issued at a 10% discount to the Face Value.
2. Conversion Price means the Conversion price being the lower of A$0.015 or, if the Company has issued Shares to any other person during the term of the Convertible Notes for a price below A$0.015 per Share, the lowest price at which any such Shares were issued; or a price equal to 90% of the average of the four (4) lowest daily VWAPs over the ten (10) trading day period on which trading in Shares occurred on ASX immediately prior to the relevant conversion date, provided that, in relation to Tranche A Convertible Notes, unless and until Shareholder Approval has been obtained in relation to the Tranche A Convertible Notes, the Conversion price applicable to Tranche A Convertible Notes will be no less than A$0.005

So not only is there are 10% discount but if the price is below 1.5c but say 4 days at 0.6c and 6 days at 0.8c, the conversion is done at 0.6c. Combined this could means quick dumping to lock in profit which causes SP drift down, especially if an announcement comes at the same time that allows the increased volumes to be dumped (which was happening on XPE). Who is the CN holder and their history will determine whether the CN becomes a hold on SP as the case with XPE in the drift down in SP (or whether games are played to drift down the SP as the CN holder appears to profit mostly from the arrangement as was the case in XPE). I hope your CN holder is better than XPEs.

I intend to sit on the sidelines and if see no manipulation by CN holder - meaning you have a good one - certainly what is in the pipeworks with a new team makes this one a worthwhile re-entry punt IMO but I'll wait a little bit first before dipping my toes back in.

All IMO