True 60/70% is not possible given what is allowed by ASX under...

True 60/70% is not possible given what is allowed by ASX under rule 7 which limits it to 75%, so in essence he is partly correct at 80%. If they were to do it I would think it would work the same way as any other offer to new/existing investors such as an information memo or prospectus. Personally, I would be looking at the underlying factor for the consolidation, is it only to make a possible CR easier, or could there be other reasons, given it is the market value which seems to be the main concern. In any case it still possible to make at offer at 75/80% below the current SP. I think however, our friend here is not the only one who is making slightly exaggerated claims on here. Even you have you have possibly been guilty of hyperbole when you said to our friend "They have just made a great deal so they can move forward" at this stage, and correct me if I am wrong, all they have done is ask that Shareholders approve a deal to acquire a tenement, raise some capital, consolidate the shares and of course the forgotten one change it's name. Whether it is “a great deal” as you claim is yet to be established.