Your gut feeling is correct and that's what they mentioned in...

Your gut feeling is correct and that's what they mentioned in the last quarterly. Both consolidation and upcoming demergers are to help financing.

"Events subsequent to the quarter
Following the September 2021 quarter, the Board initiated a review of Australian
Mines’ capital and corporate structure to ensure they will support securing the
financing to bring Sconi to full production and maximise shareholder value. As a
result of this review, the Board intends to seek shareholder approval at the 2021
Annual General Meeting, for a consolidation of the issued share capital in the
Company through the conversion of every ten existing shares on issue into one new
share.
The Board also intends to seek shareholder approval in early 2022 to demerge the
Company’s non-core exploration assets into a new copper-gold-nickel (sulphide)
exploration-focused company. It should be noted that the Board proposes to retain
the laterite-hosted cobalt, nickel, scandium mineral rights of the Flemington Project
(including the existing cobalt-scandium Mineral Resource15) within Australian Mines.
Similarly, the Board also intends to seek shareholder approval in early 2022 to
demerge the Company’s non-core research and development (R&D) assets into a
new battery/hydrogen R&D company.
Existing Australian Mines shareholders would hold the same percentage ownership
in both proposed demerged companies (being the exploration-focused company
and the separate battery/hydrogen R&D company) as they presently do in Australian
Mines.
The intention of demerging these non-core assets is to allow the Company to focus
on bringing Sconi to full production and optimising operation of the project
thereafter"