The way i see it this is just another way to raise capital...and consolidate the number of shares..first step.
Second step..I can see them going through this process again and this time diluting the shares on the second round of capital raising...long term plan..smart move..i dont think they have the money even with the current capital raising to fund all of their major projects.
Dont know whether this will add much value for existing shareholders....time will tell....see how market reacts tommorrow..
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