Yeah, this is a textbook execution of how to wipe out shareholder wealth. It's every investor's worst nightmare. In fact, I've brought this issue up on many threads on HC over the years to the scorn of others. Next time one of those nuffy's tries to tell me SP consolidations don't matter, I'll send them here to the CLZ threads & use it as a prime example.
Not many investors on the ASX understand the concept of dilution & consolidations, to their own detriment, I guess. I knew the dilution here would be bad, but I didn't think it would be like this.
The only this that could save this company is a gold pour.
It might be too late for most investors.
Good luck to all holders.
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