I wouldn't be surprised to see some short term weakness, but not...

I wouldn't be surprised to see some short term weakness, but not to 40 cents. Drop on Friday was on low volumes, so doesn't tell you much IMO. Takeover speculation IMO may put a floor under the sp in the 50's.

Re ST weakness, Maui is now at 19.9% via put-call deal with Grandlodge, thus can't buy any more without launching a bid for the company. Thus, this takes away some of the support.

So, IMO, there could be ST weakness. The put-call exercise period is the month of July from memory, so unless MND steps up to the plate in the interim, then the stock may drift a little lower until the options are exercised, or lapsed.

What would you do if you were MND.
Do you wait till end July to see if the option lapses? If it lapsed, then you can play two substantial holders off against each other.
Do you launch a bid immediately?