Personally i felt this latest announcement was very positive indeed from the company, and that consolidation in this case will be a good thing. Sure i expect the share price to trade around 4c untill this is all completed, but i`m betting that after that, it will head up and not down.
I`m the first to get my back up about directors and free options, but in this case there is no free options being handed out to anyone. Directors are going to participate in the capital raising by spending $100,000 of their own money to buy 500,000 shares at 20c. This to me shows support that they feel the share price will trade higher than 20c after the consolidation and into the future.
I also feel that when trading begins after the consolidation, that is when we will hear of new acquisitions relating to further bolt on mines.
For those that can sit back and wait for the next couple of months, i think your patience will be rewarded. I will be looking to buy a few more under 4c if the opportunity presents itself,
Regards The Tinhopper
NSL Price at posting:
18.5¢ Sentiment: Buy Disclosure: Held