You're missing the point. ENZR will most likely have to finance the construction of the mine through company shares considering how the world economy looks like it's tanking again. In fact I can see ENZR going higher than 650 million if they so desire. As for the reverse split scenario, it might seem a bit naive for anybody to think a company would not go that route considering the huge number of shares that we may end up with.
P.S. You don't really believe everything they tell you do you?