RE: The bottom line is 10 for 1 reverse splitHi McLucas;
Do you own still own any EGX? Are you interested in joining a concerted effort to block the consolidation.
I agree that consolidations are usually a bad move and now EGX is caught between a rock and a hard place. If they are indeed serious about improving their exploration resources and their exposure they will have to get their share price up.
The easiest way to do that is to consolidate. They claim that a prerequisite for the acquisition is the consoldation. Probably because once they consolidate they exchange Charaltyn at 22/1 and they are excluded form any votig. They expect to open post acquisition and consoldation at .71 which is still up from the existing .055.
I also believe the share price will fall back to half of its value if the company does nothing to gain exposure.
If you can trust the management to do the right things consolidation at this point can be a good thing. If they fail this stock is doomed.
Maybe we can get them to not accept any PP for less that $1.00 if they go for financing to reduce the chance of dilution and secure a .10 pre consolidation price.
ps check out CLKTF. there is some interesting information around Calcitech. (not a resource stock)