trading halt ... capital raising ..., page-35

The last thing we want is a consolidation, this would be a disaster IMO. Historically most shares fall after consolidation and this volatility and action by traders should not be seen as a bad thing. Take DIO for one example, they were trading at .19c prior to a consolidation of 13/1 from memory with the stock re-opening at 2.47. It dropped to below .50c before being taken over at around $1.37. GDA was another example.
Now PEN has a lot more going for it than those two companies combined but the only time the stock should be consolidated IMO would be once mining has commenced and profits have been fully factored into the SP, any time sooner and we risk selling ourselves short.
At .05c there is not much chance of a fall much below .04c
At .50c there is more of a chance for the stock to slip below .40c without support from traders on any negative news.

I do hope though that the capital raising is to a cornerstone investor at a price higher than current. The Chinese or Koreans would be ideal.