IMO if the consolidation goes ahead will offer alot better value to shareholders on opening and will be worthwhile taking up addition shares... As simply less shares in total = less value attributed to current assets held (Half)= smaller market cap = Greater value to new shares.
Is it just me who see's this value for small shareholders? They have Gold which can be on poduction soon, and Iron Ore which looks pretty promising (30% currently optioned to 50%)
Market Cap (Non-Consolidation)
120.7 Million Shares 75 Mil shares Issued Value @.20c = $39.14 Mil
Market Cap (After Consolidation) 60.35 Mil 75 Mil Issues Value @ 20c = $27.07 Mil
So after consolidation value attributed to the assets less cash raised ($15mil) is $12.07million (originally purchased for $18.494 million + $1 million spent by Japanese Investment Group)
Very rough but hopefully provides some insight... Whats the price for 3 good pre development assests???
CBH Price at posting:
9.9¢ Sentiment: None Disclosure: Held
