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Just in case anyone has an issue with consolidation, it does not increase or decrease the value the of the company. It aims to avoid conversations about telephone numbers in stocks, though there are some cultural issues here too in the sense that the USA is a jurisdiction that prefers high value share prices and a small number of shares. Warren Buffett's Berkshire Hathaway stock price, for example, is in the hundreds of thousands of dollars. At the other extreme is Lexington with approximately 1,108, 172,890 shares priced at 0.338p and a market capitalisation of around 3.7mn pounds. If we consolidate:
10:1 there are 110.817,289 shares
But the market capitalisation stays the same as each share is now worth 3.38p and so on. Consolidate 100 to 1 and it will be 33.8p. Easier to count, less phone numbers involved.
My bet is that they will consolidate 10 to one and we'll end up with a nice penny stock at around 3.38p /share. A good start for a new mining exploration stock.
I'm sure they are quietly chatting to potential investors right now and sounding them out on price and demand concerning the upcoming placement... With gold as hot as it is, my guess is that this will be a easy exercise.
grappa / O/T - are you invested in GWMO ? - I think I saw you post there a while back?
Apologies if not
Lexington Gold - right time - right choice for the RTO - looks like it will be exciting
GL
Angel, I've been invested in EUZ for ages. The consolidation of 500 to 1 didn't increase the SP as it stayed at 5p until things started to happen on JSE where EUZ shares are available. It steadied around 15p and has increased to 21p based on RNS releases. No Doubt it will continue to rise after further MET results RNS's are released. It was my worst performing share but now my best and we all think its going places, especially if European grants are obtained.
I've not fully comprehended consolidation and how it works.. euz Europa metals did that and I think their share price went up many fold.
Thanks as always yes it does
Cheers
GL
Its worth trying to get shares in the placement. However, no guarantee you will get any. If you are the company and you want to keep costs down, you place the stock in big blocks to HNWs. What I am saying is that given the track record of the current management in identifying historic opportunities, there will be lots of demand for this stock. Don't for get the MMs will be crawling over each other to cover their position. If I were management, I would be trying to place the stock in strong hands, fewer bigger holders who are less likely to dump the stock they buy in placement if it moves up 5%.
If they consolidate, and it seems to make sense to do so, your number of shares will drop by 10-100 times depending on the consolidation factor, and the new shares will be issued accordingly. HOpe this helps....
Hi munchlet
Good to read your posts.
Sounds great - I'm a bit confused (as usual) - are you saying that there will be a chance for PI's to get in to a placing for Lexington Gold - what is it they are trying to do re: gold price rises.
Sorry to be a numpty
- what happens to our shares in that placement ? - consolidation and re-issue?
Sorry to be a ...
TIA if you get 5
GL
Hey Munchlet,
Premium, now that would be a site to behold.
For those interested in the placing, just state that your long term shareholders, who have suffered but have held and deserve to be in the placing NO MATTER WHAT. Along those lines, it's not a guarantee they will say yes but try your luck.
Good idea Jim - and the best email address.
TIA
any chance you could post a template so that i can copy and paste into a similar email. i also know a couple of other investors that would appreciate this. would be much appreciated
Hi
I just e mailed Mike Allardice
Struggling to fully understand buying more shares directly /Just about understand RTO concept/ Learning as I go!! Quite
therapeutic after day's psychiatric nursing.
Munchlet, which email address did you use?
How was the response?
Thanks for the advice. I will email them too.
Are you all just fair weather friends? Where is the camaraderie on this chat room? Are we not missing each other? I am amazed that no one has posted since the 29th, and that was me. Maybe I have verbal diarrhoea!! Hahaha.
Well then so what is new. Given that I do a bit of natural resources stuff, interesting I had a mate call me the other day about yours truly suggesting that they really are looking to do a deal at more than the price we went off the boards at based on the fact that the gold price is up by around 10% since suspension. Can we really doubt this? All I can say for now, is that I am going to e-mail them at the address on the website and apply for some shares in the placement, suggest you all do the same. By now while stocks last, if you don't you'll regret it. How can they refuse long suffering shareholders........ Join me if you will.