Actually, the shares being cancelled are all unmarketable so the...

Actually, the shares being cancelled are all unmarketable so the amount of shares removed from the market will probably be small.
It will create a much tighter register though with 3/4 of shareholders being forced off the register. I guess the biggest shareholders will be the directors who have probably done well rewarding themselves with rights, option,shares over the years.

IMO, the only reason this stock is rising is because they are jumping back on the gold bandwagon. Late comers but gold is where it's at....today anyway.