RE: RE: share consolidation Don't get me wrong, I didn't wake up this morning hoping for a reverse split. There's lots of bad stories about this type of maneuver, that all occur when done at the wrong time for the wrong reason. However, there are also positive results out there; when do people discuss good news?
I agree that this decision was made long ago, no matter what you or I might prefer. But, I didn't get the impression that the reverse split was going to be anytime soon.
I'm just saying there's more upside than down, if the timing is right.
For what it's worth, here's the timing that makes sense to me: Keep on doing what they're doing until the turnaround is verified and consistent. We're talking 2 quarters at least. By that point, the SP should be over .50. Do the consolidation then, when it's based on consistent good news. That way, the SP will also be well above the $3 needed to trade on Amex.
Do we need Amex? I don't know. Do we need day traders playing the stock like a yoyo either? Personally, I'd rather be co-owned by mutual funds than Fairway Louie who also finances third mortgages out of his basement.
They were talking about mining for 20 years with more exploration; they've got proven reserves now for 7, so with the extra years of drilling, orphan muckpiles, etc, twenty years is do-able. I know of mines in Northern Ontario still going after 100 years just by varying methods and acquiring nearby properties, so 20 isn't that long.
Side note: they have to promote longevity, so we can all sell at $1.20 before the split, tripling our dough at least!
Lots of possibilities, yet. Could be that they had to consolidate shares and raise the price as a qualifier to a merger/joint venture.
Yes, Baldock did sound a little harried when talking about the "distress" mention in the media (Ecclestone), but he had to address the issue. Unnecessary and unwarranted "analyst" negativity!
Negativity breeds negativity. Let's accentuate the positive.