It is a good move and will bring the SP back to 2011 levels....

It is a good move and will bring the SP back to 2011 levels.
This is the nature of exploratory companies. We are so close to $0.001 cents that equity raising becomes very difficult, the SP cannot go lower than that, and if it does the liquidity of the stock will reduce to zero.

Aside from continuing the exploration and potential development of gold assets, this is the best thing the company can do and is in my opinion prudent. Many miners who ought to do the same, haven't. Although equity raising will not be needed for some time (unless management decide on acquisitions), the consolidation makes it a more feasible venture in the future.

In addition, liquidating lithium assets for a sizeable profit was wise. They now have one of the best balance sheets for an exploratory miner that I have seen on the ASX, and I have gone through all of them. Open pit mining remains viable for the tenements they hold, more drilling will reveal more of the unknown.