I agree, it's best to sit this out once we get to the target price before the consolidation, and then buy in on the newly issued shares, we might get better deals, especially if there is a bit of a drop, and hence a bigger part of the pie.
We have a choice to make, end up with a smaller part of a bigger pie, or sell and re-buy the new pie, at potentially lower prices post consolidation (History shows that consolidations initially tank the SP before any gain is seen, GXY might be an exception, but I'm not going to play the odds, since the risk to lose more money is always there.) The other thing that is concerning, is that options are being offered to AT and Mr. Rowley, post-consolidation, this in effect, to protect and increase the percentage that they own post-consolidation. It's meant to protect management from dilution. They and the instos are aware of this, and hence designed this in that way.
Bullish on GXY, post-consolidation.
GXY Price at posting:
42.5¢ Sentiment: Sell Disclosure: Held
