Consolidation1 Jun 2018 11:50
Consolidations don't raise any new money Bobby, they just change the nominal value of the ordinary shares and thus the number of shares in issue and the share price. I take yor point about the higher SP being vulnerable to the MM's dropping it though.
It shudn't be necessary, but decent Institutions just wont touch companies with Micro, Micro share prices, such as FCR, at the moment. They like to see at least a 10p /share price. it's not logical , but that's wot happens. The Yanks regard any share under US$1.0 as a penny share , and won't invest, as they think that these are Sh*t companies. FCR, at some point needs some decent Instit Investors on the Share Register, because , at present, apart from CB, there are none, zilch, niente, - and hence the need for an eventual consolidation. They don't have to cost that much if you have a cheap Nomad and Registrar, either.
I think that the general turnaround in Management has given decent impetus to getting things going again at Toral, and good luck to them.
The new name change enables the Company to take on potential future projects in Europe and dusnt mislead Investors into thinking that the Company is still involved in Iron Ore, in South Africa, which it isn't. I understand that the SA listing is likely to continue for a while, as it's simply too costly to close it - a bit like ASX, which, with hindsight, was another Ed Nealon mistake, when he originally set the company up, in 2010.
Onward & upward, I say , and well done LR, MC & CB for clearing up the stinking mess that JT left behind.
IMHO. DYOR. GLA.