In short my opinion is No it is too early in this campaign to consider a consolidation just yet and sp too low. I would think with with 2B shares on issue at least a 1:5 consolidation to bring it to 400mil shares on issue.
Once the company has defined a decent resource and we have some idea what the project might be worth in terms of tonnage, then I think a consolidation would be beneficial. In my past experience it has been more beneficial for Sh to have a sp above 10c after the consolidation. So if it were a 1:5, then let's get this drill program near done and dusted and get the sp above 2c.
Loved the way this has settled in this range after the move from .05 recently. Another week of churn at these levels will set us up nicely to move again if all goes to plan with positive news.
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ICG Price at posting:
1.1¢ Sentiment: Hold Disclosure: Held
