For me this is not just about every other company that I have made losses on in consolidation it’s also looking at the bigger picture here.
I personally have more options than heads even if the new BOD gives us an extension on the conversion date I cannot see them ever being worth a conversion of 40c at 2c they are a big cash raise for the company if our tenements are explored properly and actually moved forward and our share price rises.
Looking outside of my personal reasons, I ask why would they want such an extreme consolidation when we are canceling over 900m+ shares already from the Vendors at a guess I would assume it would be to reduce the voting power of those who dared to stand up to a rogue board who were wasting the money of shareholders and everything else that was going on.
They then come along and do the inevitable cash raise to ‘Sophisticated Investors’ code for shares for mates and our voting power is diluted again. Conspiracy theory or not take a look at the past cash raises, on spec companies so many are not offered to the existing shareholders.
The consolidation may have been put in place by the interim board but were they working for shareholders or the old BOD?
Our best chance of moving forward is having the numbers we have now where we can actually band together to force a change if needed not be consolidated to where we have no say, and we all know there will have to be a cash raise in the future to fund further exploration don’t assume we will be offered more shares.
Vote No for Consolidation protect your voting power!
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