share consolidation - not a good idea!

Now that the Company is well funded, the Board believe it is appropriate to conduct a capital restructure (share consolidation) at or before the next general meeting of Shareholders." P2

As a long time EGO holder and reader of these threads, I think this share consolidation needs serious discussion amongst the many and varied commentators on this stock.

As a long time observer of the effects of share consolidation on sub 10c speculative stocks, it turns out most times to be a complete and utter disaster for long holding and suffering share holders. In my opinion there should be no talk of a share consolidation or the attempt to have one anywhere below 5c. If one is to be at all contemplated, it needs to be in the 5-10c range before it's even discussed.

I think we shareholders must make it very clear to management that we are fully supportive and appreciative of their work so far, but if they down this path they will lose our support and confidence completely to the point that the shareholders will boycott any involvement or participation in the up coming rights issue.

I am fully in favour of some structured process within the capital flows of EGO to mop up all the small unmarketable parcels. This is a completely different problem of the share register and doesn't need the all out annihilation of shareholder value that a share consolidation will afflict on share holders.

I personally hold a very large shareholding, not far out of the top 20. This needs discussion and articulation in the most serious way, maybe even some sort of voting system on this forum. I just hope that the new board and management team still cast the occasional eye over these threads because without the hard work and diligence of the few, and their many readers of these threads, management and especially ERM wouldn't be in the very beneficial position they are currently in.

Yours sincerely
TooMuchTime