An example of consolidation in the Rare Earths sphere is Lynas (LYC) who have a SP around the $5 mark and MC of around $4.4B, and look every inch a very serious player, as indeed they are. However, if they hadn't done a 10:1 consolidation a few years ago they'd be sitting at 50c with the same MC but with a whopping 9B SOI. Think about what looks more impressive; $5 with 900M SOI or 50c with 9B SOI?
Ann: Change of Director's Interest Notice, page-33
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