Ive been a shareholder, back since the Metex days, I believed in this stock and still do, Ive seen 80c Ive seen 1.3 cents and in this time believing that I was doing the right thing, with ... Australian First ... Clean Energy ... Clean Coal ... Inovative Technology ... I continued to stock pile the shares, I now, you could say I have quite a few, never believing that we would be in this situation.
However, with consolidation in this case I believe if you had 1 million shares then they would convert to ten thousand shares, the value as I believe would still be the same (prior to opening back on ASX)
1000000 at 1.3c = $13000
10000 at $1.30 = $13000
Personally I see a less chance for major drop in price if it is at $1.30 than 1.3c as at 1.3c the sell or buy is at increments of a tenth of a cent, if at $1.30 then the sell or buy is at increments 1 cent
therefore Example:
if the stock at 1.3c dropped 7 trading increments it would trade at .06c (a 6th of a cent)
1.3c increased 7 trading increments it would trade at 2.1c
then at $1.30 it can take a lot longer to fall or increase at increments of 1 cent . (In my view, time will tell)
Looking at the announcement with the loan taken care of, the major shareholder now owning nearly all the company, I feel they wouldnt have invested these millions without a strong vision forward.
If the consolidation of shares brings the share total around 18 million shares, this is a much more desirable figure for investors to buy into .. moving forward
Lets hope with the vision of the Chinese at the helm ... It will be continue to build confidence.
I believe in 10 years from now, we will look back at what could have been another "Australian First", and regret that we didnt have the foresight to trust in our many many years of research and believe ..
CNX Price at posting:
1.3¢ Sentiment: Hold Disclosure: Held