SLR's reason was that it would make it more attractive for institutional investors so that a Binding Off-take for their nickel mine could be achieved...
to their credit they did the CR before the consolidation.
I feel that whenever consolidation is attached to a reason such as "funding from banks etc" or "attracting insto's" and then this does not appear....the SP drift back downwards occurs until the BOD's realise that a new CR better happen sooner than later.
Ann: Nova Majority owned Snow Lake Resources Prices IPO, page-490
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