Reason for share consolidation Just in case some are not aware, TSX has a rule that basically states that a company's shares must be trading above
.05 before they can do a PP.
Add to that the substantial money needed to hire the IDMH vessel & crew (will it be the world class Explorer?) so that AFA can embark on exploration of EPL3403, and one starts to see the reason for share consolidation.
What some seem to be missing - or just choosing to ignore - is the very good news contained in the April 12th NR. That is that money was secured via: "it has entered into a financing agreement ("The Agreement") with Trinity Assets Management International Ltd. ("Trinity") of Mauritius. Trinity agrees to subscribe in a private placement of $3 million in Afri-Can"
EPL3403 is a far better investment than Block J was - do yr own DD to see why - if only for the fact that it lies North of Atlantic 1 and the millions of carats in resources that ATL 1 holds.
So I fully expect this upcoming phase in AFA to be the kick start we all have been waiting for. At same time, don't forget HAIB dividend that is awaiting on the wings to be released.
So cut our AFA management some slack, will you???