With the 30 to 1 consolidation, 1 million will convert to 33,333 shares and the SP which is currently .002c would convert to 6 cents.
Certainly removes some pip traders but as I found out on CZL the share price converted to 6 cents and then dropped down to 2.1c. Consolidations can be good as it allows them to raise at higher prices and will get the attention of another group of investors. The negative though at one stage it dropped a further 65% from the consolidation price.
Just some further food for thought as my losses extended.
Having said that after being trapped in losses for quite some period we did see it trade above the consolidation price with a high of 7.3c.
It will be interesting to watch this as I wonder if it might be a ROG type play.
Watching with interest.
Good luck holders
BAS Price at posting:
0.2¢ Sentiment: Buy Disclosure: Not Held
