Ann: Change of Director's Interest Notice, page-32

No, can be done at any price. The whole idea normally is to escape the 'penny dreadful' look that stocks like VML have when they're trading at such a low SP, which tends to deter serious investors or instos from buying. At some point a 10:1 consolidation looks inevitable here to help wipe away the scars of being a failed gold explorer. In the short term it generally doesn't do current shareholders any favours as the SP often tends to fall. For instance, if done today we'd be more likely to fall percentage-wise from 44c than from 4.4c. However, in the long term it's normally beneficial if a company makes continual progress towards goals, as I expect VML to.