Correct me if I'm wrong but the company can't just consolidate...

Correct me if I'm wrong but the company can't just consolidate if they don't have money to pay out all of the SH if they don't want to take the newly issued shares.
Even if they consolidate at 1.5 to take 33% of the shares on issue off the table, how does the company's current MC and prospects warrant the higher SP. Obtaining drilling approval in no way derisks the company without proving up the resource and further metallurgy to make sure it is cost effective and viable.

My understanding is that a SP increase mid-term would be more likely met with a CR to expedite the process to production, as it will be the juniors who are quick off the mark that will make the strongest returns.
Not downramping by mentioning a CR but that's how a company gets money for further exploration and cost covering unless they end up in a JV.
I hold.