Mercator Gold - another 10X bagger in the making ?

I would be grateful if someone could explain to me what the following paragraph actually means. Thanks in anticipation, PWWPS222

DETAILS OF THE SHARE CONSOLIDATION

At the Extraordinary General Meeting it is intended to propose a resolution
consolidating the entire issued and the authorised but unissued Ordinary Shares
of 1p each into New Ordinary Shares of 10p each in the capital of the Company on the basis of every 10 Ordinary Shares being consolidated into one New Ordinary Share. Full details of this resolution are set out in the notice of
Extraordinary General Meeting.