For the uninitiated a share consolidation is not necessarily bad news.
Currently there are about 3,210,297,112 shares on issue and the 5:1 consolidation will reduce that number to about 642,059,422
The decision to consolidate shares is often driven by market considerations. By reducing the number of issued shares, an increase in per-share value can create greater market certainty during times of trading volatility. It can also improve liquidity and make shares more marketable and appealing to new investors.
As I pointed out in an earlier post early stage explorers such as RR1 need cash to continue and the cash burn can be eye watering, so those who cannot accept that should bail out.
RR1 Price at posting:
0.2¢ Sentiment: Hold Disclosure: Held
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