I agree, the crappy name change is a complete waste of money -...

I agree, the crappy name change is a complete waste of money - what is the benefit (other than to eliminate the stigma of QOL) ???

As per the consolidation

After buying this company for "nothing" and being able to put a ruler over the books and the minesite(s) for an additional few months they are now going to consolidate the shares.

A capital raising is difficult when the shares are 1.4c a share (less discount for the capital raising).

So consolidate the shares up to 14c then you are able to issue shares at a discount.

This means that MLM can buy more shares with the money that they should have invested in the first place.

Possibly they can move their shareholding above 76%?
(for a full takeover??) and get the remaining (suffering) shareholders to plough even more money into MLM's business.

Just my thoughts...and remember DYOR !!! :)