I myself have only been on-board briefly - So someone else by all means correct me if I am wrong.
But by my understanding the QLD tenements were obtained by the promise of issuing JAT shares in conjunction with a profit sharing arrangement for the seller of the QLD tenements to gain access to the Indonesian Coal.
Thus the need to consolidate so the new party gets shares without the possibility of dilution.
Ann: JAT to Acquire Queensland Coal Assets , page-17
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