The purpose of the share consolidation is to increase the liquidity of shares, as under the current price there is no room for other investors to come in even if there is positive news. The market cap doesn't change, have a look MLS and it's price action after share consolidation and you will understand. Both BAS and MLS has Peak Asset Management as corporate advisor and they know how to run a micro cap to get market attention. The key is oil price remains high and there will be a series of positive news flows after the consolidation.
BAS Price at posting:
0.2¢ Sentiment: Buy Disclosure: Held
