haem,
as a prempt, if the answers to those questions is YES, then as much as the share price might drop in the short term, long term you know that with the resource that we have, we could mine and mine profitably so much so $2.80 would look cheap.
there are 2 propositions, vote Yes and take short term gain and move on OR vote No and take a long term view on the stock - mine and make money and see further capital growth. I am happy to take the long term view and see a new board develop the deposit. Further, there are many competent people out there that can get it to mining stage - I know a few of them.
You know better than anyone, that THIS IS A ONCE IN A LIFETIME PILBARA RESOURCE FOR A JUNIOR - why not exploit it rather than "warehousing" it.
Problem is IMO, if the hedge funds are buying to make 4c arbitrage, then they will be voting YES. The more stock that goes to them, the more likelihood that even if we all on HC voted NO, that the deal would be passed.
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