Ann: Proposed Consolidation of Capital, page-53

Some good debates about the consolidation pros and cons. There are some success stories, I agree, but they are few and far between and there are far more consolidation disaster stories across the ASX. We are in a mugs game where the institutions are always shafting retail. The question is, will this share price demise continue post consolidation or will the institutions finally start being bullish about this company? We are in a record gold boom yet the share price is approaching fresh yearly lows. Not a good look for management imo! The consolidation hides this disaster of a share price initially but then what happens? I Hope this ends up being one of the rare post consolidation success stories but the odds are not in our favour Imo.
At the end of the day if management had confidence and belief that the share price would get a decent re rate with all the upcoming drilling results, likely resource upgrades and of course the DFS then they should have left it as it is! Very strange decision! The institutions have likely encouraged management to take this decision Imo. Which is a red flag in itself considering their recent form and manipulation.