Ann: Update - Consolidation/Split - WBT, page-156

yes, it is non sensical.  However it is the markets full of nefarious activity.  There is no doubt consolidations allow the next rounds of dilution,  but they also disguise poor company performance.  Being that wbt took over a poorly run company there is no choice but to have typical price action until otherwise is proven. 
Sure we have a decent product which is being risk reduced but if we were to assimilate it with the mine lifecycle sp chart we have hit resource and now in the throws of validating a mc of which atm is high,  from a fundamental standpoint.  
This and the consolidation should see us test lows. 
37.5 may be a good area if it comes by. 
All the best.