Ann: Notice of Extraordinary General Meeting/Proxy Form, page-29

The problem with the do nothing approach is we would still be sitting on a 2.5Moz resource instead of 10Moz's. Everyone knows explorers issue shares to fund themselves, we trust management to do that efficiently while progressing the project. If the project stops, everyone sells anyways, end result is the same shitty share price history.
I think they have done reasonably well to date with dilution, we have 10Moz's and a really good chance at producing, but when we're talking upwards of 40% - 50% dilution just for a US listing, one needs to question that.

The buyers have been drying up over the last week, so if there is any decent on market sells this could well end up in the teens prior to the IPO.