I am thinking a possible scenario going forward might be as follows:
1. Get through the consolidation 2. Hopefully, announce some good news with the reactivation program or announce production from the 2 new wells, with the hope to increase the share price. 3.Then do a capital raising.
Our market cap is now getting extremely low, around $3m at $0.001 cents per share. When the 10:1 consolidation occurs, that equates to approx 1 cent/share (but 10 times less shares). In my experience, consolidations usually start bad, as the market seems to get confused, but then corrects over 2-3 weeks. So I do hope that post consolidation they are ready to drop some good news.
Maybe they should offer to buy SGC's Canadian operations? Probably with mainly debt to limit dilution. That would be a quick way to double production, even without the reactivation program, since SGC's and XST's production is very similar. And it looks like SGC needs money to fund their Phillipines drilling?
Anyway, the consolidation is not far away now, so good luck to all holders and I hope it goes well.
IMHO / DYOR
XST Price at posting:
0.2¢ Sentiment: Hold Disclosure: Held
