In my experience consolidations are simply done to later...

In my experience consolidations are simply done to later undertake a capital raising. Lots of companies that undertake consolidations end up scraping the barrel later so I hear the concerns. Perhaps this is a strategic move for what will be a potential major capital raising in future to help meet DRA's share of the stainless steel project? Consolidate shares, get some instos interested, dilute later? Buy back on the other hand is excellent news, showing the company currently has financial strength and confidence in its underlying share value. Have been looking to enter DRA but am sitting on the fence at the moment as the consolidation has caused me further contemplation.