Buyback WILL NOT happen. It's ridiculous to suggest it. Buybacks happen when a company has no idea what to do with all the profits it is making, come on seriously, we have heaps of things to do with whatever money we bring in (new developments, new discoveries, takeovers etc.) How will something generic like buying its own shares give share holders more value, then finding and developing more/new projects that will then add to the profits coming in.
Does anyone actually think about what they are saying when they are pro-buyback?!
As for share consolidation, again this is another generic option that DOES NOTHING to the value of the company or the VALUE of your shares, only the PERCEPTION of the company might change in the eyes of the beholder. Those that are against consolidation saying it will push share price down, this is a common 'misconception' as the market doesn't value a share based on share price per se, instead the worth of the company (market capital).
So, Share buyback = waste of money Share consolidation = doesn't matter, either way nothing really changes.
Personally i feel like there will be a consolidation of shares (most likely 10-1 or 20-1) just to change the perception of FML from a penny stock, to one that actually looks like its a gold producer that's making profits with a $ sign in front of it.
FML Price at posting:
6.4¢ Sentiment: LT Buy Disclosure: Held
