Good point about why a company might want to consolidate but ABU...

Good point about why a company might want to consolidate but ABU had wisely raised a fair amount of funds a couple of years ago (with a similar number of shares on issue and at a similar sp) - enough to see them through to production. Why would they need to raise funds any time in the next few years?
They have the very low interest rate ANZ facility as a back up in case they want to expand ahead of schedule (before the cash flow of stage two would otherwise allow).
The only other likely reason might be to get Buccaneer going as a larger scale bulk mine but that's very unlikely over the next few years (especially at current POG) and more likely to be considered after OP is mined out. OP underground mining is likely to keep OP going for many years.
Why would they need to raise cash? Look at the head grades so far. OP will be a cash cow at any realistic POG.