There is an incorrect perception out there that consolidation reduces value. It is the only reason I can think of why the SP has fallen rather than risen after this most promising announcement.
The research on consolidation suggests overall it is positive and I think many potential investors will have this confirmed by their brokers/ financial advisors.
I expect a share price rise in a couple of days after advisers have run the slide rule over the features of the announcement. As King Kev says, quite a lot to digest.
http://www.portfoliodirect.com.au/MiningJournal/MJ110915_consolidate.pdf
There is an incorrect perception out there that consolidation...
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