bruham, have you got it back to front. These spin outs and...

bruham, have you got it back to front. These spin outs and mergers have taken place since Adam. Management fully realize that it is very expensive, if not impossible, for a minor explorer to raise cash to reach development stage without MASSIVE dilution, if they are lucky to get any help, and they have done the bleeding obvious.
Take a look at around 600 ASX listed zombie companies, sitting on billions of dollars of undeveloped leases, screaming out for funds to develop and will sit there indefinitely. It's either spin out excess leases and concentrate on what they CAN fund, be taken over, or just sit there drilling holes until the cash FINALLY is exhausted. Welcome to the 600 zombie club.

This has been an excellent, logical and very realistic, decision and all shareholders should be delighted. A company with a vital, robust and profitable developed project, sure beats one sitting on several dead ones doomed for the zombie heap.
I can name several and if people did their research of the penny dreadfuls, you would agree.