RE:RE:RE:RE:RE:1 for 3 stock consolidation needed ! The last time we had a consolidation we were trading @ .02 ,,, after a 1 for 10 the shares went from .20 up to .80 with a total of 33,421,471 common shares issued and outstanding,,market cap of about $6,684 million.
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Integra has spent $22 to $25 million on advancing Lamaque. We are now trading at .22 but with 134.2 Shares Outstanding, 166.6 Fully Diluted,, with a market cap of about $30 million !
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Remember when we had 33 million shares and we did trade from .20 to .80 just starting exploration,,
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,,now we have put in $25 million, have a million oz high grade resource,, a PEA that states a better then 50 % ROI and close to putting in 2 ramps to start mining .
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Now if we had 55 million out could we see a $1.00 to $1.25 stock price ?
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All I know is the market / institutional investors do not like junior exploration companies with over 200 million shares out,, only ones who lots of shares out is the short sellers !!
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Dec 21, 2010
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CONSOLIDATION
At the Company's Annual General and Special Meeting held on December 16, 2010, shareholders approved a consolidation of its share capital on the basis of one (1) new common share for every existing ten (10) common shares (the "Consolidation").. The Consolidation will enhance the marketability of the common share as an investment and facilitate additional financings to fund future operations. Shareholder and Exchange approval of the Consolidation has been received with the record date set as December 22, 2010. The Company now has a total of 33,421,471 common shares issued and outstanding. As part of the Consolidation, the name of the Company was changed to Integra Gold Corp.