Brightstar Acquires Linden Gold Alliance, page-23

Theres a proposed 50 to 1 share consolidation which will clean up the total shares on issue.

As for share holder value the company is in the the process of merging and growing to be one of the few mid-tier gold miners. Both entities merging had conducted their own M&A recently. The merge-co will emerge debt free and cashed up.

On top of this management is active and showing a lot of potential, theres plenty of lifestyle directors in the small cap space and not so long ago BTR had the same issue.

i think shareholder value creation is there, but its seems like your point is more when will share price reflect (who knows!). I just hope that Menzies is as good as expected, the laverton tenements have amazing potential IMO, be a shame to waste capital. Although the way all you old KWR shareholders carried on, im sure its the making of the next Northernstar.