GDXJAkiba’s main goal for the reverse split is to get listed on the GDXJ. See below for some of the GDXJ’s listing requirements. We meet all the requirements except for the average daily $ volume of $1M. I assume that is $US. Our current daily $ volume is less than $200K, so we need to increase our volume by approximately 600%.
Being marginable in both Canada and the USA will greatly help increasing volume. The marginable requirement on the OTC is $5.00 average bid price. That’s 15x the current price. I think we need a margin of error hence 20x. I gave this logic in a previous post, but at that time I didn’t know the goal was the GDXJ.
The 20 for 1 is a done deal. Get over it. No amount of whining on this forum will change anybody’s mind.
Listen to Akiba’s explanation at about 10:00 minutes here:
https://www.youtube.com/watch?v=RQHTwfaP-_I&t=12s “In order to be considered for inclusion in GDXJ, juniors must first meet some key requirements. They have to be smaller companies that generate at least 50% of their revenues from gold or silver mining, hold real property with the potential to produce 50%+ of their revenues from gold or silver mining once developed, or primarily invest in gold or silver. They need to have market caps exceeding $150m, with average daily capital trading volume over $1m.”