AGM today - anyone out there?, page-182

Whatever the case consolidation or not focus on the mc. Historically companies consolidate for one main purpose - continue dilution. In the case of wfe whatever is the case with the asx, If consolidation is required it really will not make a difference as ultimately it is all about mc. However it means it minimises penny investors which are a large part of the retail as most inexperienced  retailers focus on the sp not mc. 

Wfe’s case is rather unique as within a few months of production there should be cashflow ( of course dependant on cobalt price which will follow thru to hydroxide). This will not prevent further raising but minimise the extent of the railings and also ensure exploration or speculative aspects can be funded by wfe. Putting money into a cashflow positive business is always a good thing - be it raising or debt. Putting money into speculative ventures like exploration whilst potential immensely rewarding most of the time is a failure and has minimal benefit unless the resource starts delivering. That is why I like this approach by wfe.