Ann: Unmarketable Parcels Sale Facility Update, page-4

There's an argument to be made that BOL doesn't necessarily need consolidation considering their current share structure. A significant portion (around 50% based on https://www.marketindex.com.au/asx/bol) is already held by the top 20 shareholders, including the board's 65 million shares.

Here's a possible growth strategy for BOL to consider:

Focus on Debt Reduction: Prioritize paying down debt, similar to VYS or MVS approach. This would improve their financial health and position them for a potential re-rating by the market.

Debt Reduction Target & Transparency: In their next quarterly update, BOL could emphasize a clear target for debt reduction or achieving a positive cash balance position. This demonstrates a commitment to financial stability.