I too am struggling to see why you're receiving so many...

I too am struggling to see why you're receiving so many arguments against this comment. In spite of the anticipated-by-some hit to the SP from consolidation, it seemed to be collectively understood as a shrewd move for the reasons stated by management.

Personally have no beef with the rights issue and agree with you that a post-CR consolidation should still be in consideration.

As for the separate debate (by others) on whether or not to participate in the rights issue vs just getting cheap shares later on, so many "holders" have complained previously that holders have not been asked to participate and these have just been offered to "their mates", now it comes up that this is only on offer to Aus/NZ holders and there's complaints about it. If you're a ST holder or DT, by all means, wait for whatever price you want. If you're an LT holder, make your own decision on whether the funds requested are for the betterment of the company in the long term, which will therefore have a bearing on the long term SP/MC. The company is raising funds, it gets none if you buy on market at 4.9 c. It gets them if you participate in the rights offer at 5.0 c. This is obviously not financial advice, just opinion....