Haha tough questions, not sure i completely understand what...

Haha tough questions, not sure i completely understand what you're after but...

Given the accompanying raise to the acquisition will be 3c post consolidation which represents 1.5c now i think 1.5c should provide strong support as punters wrestle to get in at as close to the pros as possible. It looked pretty strong in the arvo after the initial profit taking from people that have likely held this for over a year and were over it (or bought high at the start of the year). Given todays vol id expext most thst wanted out are out. If the demand is there it should move away from 1.5c pretty easily. As i said before i doubt retail will get a look in on the 3c raise so buying on market is the only chance we have.

This shell had a strong register/backers but i think a quite a few people hadnt taken positions because they didnt know if it would deal (vend in an acquisition) or not given the likelihood of having to recomply with chapters 1&2. Now that we know its done a deal the chance to get in at base price is pretty good IMO

The broker data suggests hartleys were buying leading up to this so that's a strength too.

The consolidation doesnt really affect SH, other than youll have half as many shares but theyll be worth twice as much. The consol is just so that they can raise above 2c which is the ASX ruling.

You just have to look at it like the raise is being done at 1.5c effectively in todays price.

Providing the acquistion is approved by SH the consol will become a reality but i cant really see it having an influence on the share price itself. Demand from buyers wanting in on the project potential and the team behind it will drive the SP.

Ive only skimmed the project side of things but i think given the backers and the project potential IMO it should justify a $20m MC post acq pre drilling which is about 2c at the moment. Just my opinion and napkin valuation.

Maybe @Anton Chigurh might be able to provide more info on the raise and recompliance etc. Also i know @john435 was on this and picked up on hartleys buying.