Spot on.
A 13:1 share consolidation happened in one of its previous incarnation’s as WMN. Since then around a billion shares have been issued (more than they previously had) and the price has dropped drastically. Which means as you correctly point out, massive dilution in the not to distant future capital raise and a further consolidation to make the share price attractive to any fund managers should this catastrophe amount to anything.
I await eagerly for the resident ramper to put his positive spin on this debacle.
Ann: Shallow infill program confirms sulphide mineralisation, page-21
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