I respect your opinion Bob and you are one of the most insightful and well-researched here.
I'm just not sure that you have reflected on the importance of timing in this decision.
The consolidation would be taking place at a moment of excellent exposure.
Post AGM, and with the likelihood of a few new pieces of information delivered to market and just as the true impact of Contract 2's pricing is being made.
I see it as a great opportunity to get out of the current sp rut and lift the status of the company into the same price range as other established mining companies.
This is not a consolidation to rescue a share price by a clapped-out explorer that has drifted sub 1c , it will be done on the back of requests by instos that are keen to get in, but the sub $1 price tag makes it impossible.
HK listing is a natural second step.
Put that together with Objective 1 of the BoD - a sustained price in the $3 range.
We could wait for the market to regain its sense of value and recognition for Galaxy's achievements over the past 12 months, or we can shake it up, welcome in new bigger players and force a revaluation at the moment where Galaxy's future is shown in its best light ($905USD/t pricing, solid market fundamentals with demand and a failure to make adequate progress by the competition).
If there is a brief tumble in the GXY share price you may need to be very fast to pick up on the arbitrage as there will be many others waiting for this moment.
But selling now? At the bottom? This is the price point for strategic purchasing.
The fundamentals are about to do a major change as the profitability of Mt Cattlin swings into a higher gear.
Even technically we are posting higher lows, double bottom and seeing some serious support, particularly in the light of failures and delays in the sector elsewhere.
We'll see. I guess this will be hotly debated for a few weeks and it will be interesting to hear more perspectives.
Good luck to you Bob.
