Black MountainResources Ltd. said July 18 it plans to consolidate its shares on a1-for-10 basis.

Without elaborating, the company said in a statement that theconsolidation forms part of its plans for restructuring.

If approved, the total number of shares will be reduced from410,515,820 to 41,051,582.

The company's newly consolidated shares would then starttrading Aug. 23.