Imo the share consolidation could in part be to prepare for US dual (or even primary) listing. Any company in the US that trades below $5 is considered a penny stock there and they will likely want clear of that stigma to commence US trade.
1:20 here at the moment at 28c is an ~AU$5.80 stock. If in just under three months they can give enough market confidence to get this up to ~39c at current exchange rates, it’s a AU$7.80, which then sits above the US$5 mark.
IS SHARE CONSOLIDATION SIGNALLING SOME THING BIG?, page-19
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