RE:RE:RE:RE:AKG reported Q2 $1,280 AISCBeing a penny stock is no indication of how good a company is. Hugely successful companies originally started out as penny stocks. A penny stock can just as well go up as down. Many gold penny stocks have already been multi baggers this year.
You are fooling yourself with the consolidations and rollbacks. Many non-producing miners coincidently have rollbacks because they need to raise cash. Rollbacks and penny prices don't cause a company to go bad. It is not a causal relation.
NMI and EDV are examples of companies that had rollback consolidation 5 to 1, and 10 to 1 and they continued to rise in share price. They were penny stocks that you so hate that became multi baggers.
Consolidation and splits are neutral to the value of a company. Coincidence is not cause.