South32, page-14

Right now is the worse possible time to be doing any share consolidation. But those wish to see the company trashed and value evaporate would certainly love to see consolidation done now. To me it's as bad as a swear word. The company should keep it's focus on proving up a resource and NOT worry about the SOI for the time being. Consolidation now will simply make it easier to short sellers and other parasites to trash it further.

Prove up a resource first. Let's worry about consolidation a few years after the company have turned a healthy profit. S32 and BHP have far more SOI than ICG and it's NOT a problem. So let's concentrate on finding and proving up the goods. Any messing around with the SOI will be received very negatively, and it's stupid!