That will never happen. They'll wait until VA then pick up the pieces then. It will be an awfully lot cheaper because they'll cut out all the existing shareholders.
Yeah, I noticed that. There isn't a price low enough to put on a buy order. The ASX should allow a buy price of zero so at least holders can realise their losses. Then the buyers could buy a $20 lottery ticket (brokerage)
If CDE needs to raise capital it's going to need a CR and will only be able to do that after a consolidation. It was ridiculous that last time the consolidation was only 25 to 1 and increased the stock price to only 2.5c, from which it didn't take long for it fall back to the depths of where it was before. At the time I suggested, that at least a 1,000 to 1 consolidation was appropriate, because at least the share price would have been a $1 and have a reasonable spread on it. The same applies here.
Though personally, I think Codefail needs a bit of romance to gain some interest, so I'd go 40,000 to 1 and make each share $40 (well, $40 at the beginning at least). That way every million shares that had originally been issued would then have been consolidated to one share. Wouldn't that make a good dinner party story and get people taking about the stock?
CDE Price at posting:
0.1¢ Sentiment: Sell Disclosure: Not Held
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