Ann: Company Update-XPE.AX, page-169

I was banging on about a consolidation last November when XPE was RYG and the RTO was in it's infancy. Obviously MC is the key driver, but a small tightly held register has greater chance of % gains than a loose register full of free float.

For example. If XPE had a MC of $1Bn with 2 billion SOI, then you're looking at a SP of 50c. Now if they consolidated 10:1 and ended up with 200 Million SOI and maintained a MC of $1Bn the SP would be $5.00

Share consolidations can be painful to current holders, so IMO the time to consolidate was upon relisting (as many RTO's have done) with a free option sweetener for existing holders.

Some say the reason XPE didn't was to avoid a TO, however I don't agree with this concept.

When we're talking MC and % gains it's all relative, but I wouldn't be expecting $1.00 by Xmas anytime soon. LOL