Ann: Strategic Applications Increase Makuutu RE Project Scale, page-51

LCL worked out quite well for me recently. just as an example. there's a few out there.

I think the reason why most consolidations aren't favourable is because typically I means a company has repeatedly raised cash and yet to get an asset off the ground. generally this is maybe more a reflection of the management or at times the project.

IXR before securing makuutu already had a number of SOI and so the couple CR's here to get it to the development required have been very good.

Consolidation doesn't change that much really. still own x percent of company and value is still worth x amount. typically it just allows more liquidity imo. whereby it's not 10% a pip. a 10:1 consolidation having 300m SOI would render the S/P per share around 14-15c. for the same MC.

IMO unless something left field occurs I think they will need one more CR in around mid next year. this would be to fund the final drilling program for the new tenement as well as infill drilling to existing and additionally enough funding to build a pilot plant. theres no shortage of interest and I feel it could easily be a professional or large entity placement

from there I think with BFS complete and a pilot plant, they will easily secure finance via offtake for debt/equity. whether the do or don't consolidate is kind of a mute point, but it does make it usually more attractive to outside investors when there's less SOI. the only time I think it's absolutely required is if you're trading at .1c-.2c like ANL or something. market cap needs to double for a pip and it's already like 10m so it's just silly.

personally don't mind either way on a consolidation. but that's just me.

SF2TH