Thanks for sharing that. I had wondered if they would consider...

Thanks for sharing that. I had wondered if they would consider the option of consolidation.

To answer @pickagoodone yes, less shares at a higher price.

The only thing that concerns me (and it is only a little) is that this is already an incredibly illiquid stock, especially on the ASX. The past couple of days demonstrates just how rapidly this can move. A good thing when things are rosy, but the past year has shown just how significantly even low volume days can damage the stock.

I guess the other thing to consider is that the SP valuations for phase 2 were $7-42 if I recall correctly. So 10:1 would mean $70 to $420 per share. The market depth sure will look interesting!

None of this affects the underlying fundamentals or valuation via MC or EV and so. More just interesting to see how it plays out. We should be multiples from here if debt funding comes first. ~$750m US will certainly be a massive catalyst.

cheers
kk