3 simple questions on sale to shandong

1) Why does Shandong Gold require 51% if they are only interested in holding FML for investment value of future dividends? 30-45% would provide a similar investment return with less chance of issue with existing holders.

2) Who paid more than 5 cents a share for holdings, and if so why do you think it is only worth 5 cents now to sell a controlling interest?

3) Who has been selling the price down so much, and why have the larger shareholders not bought in if it is such a good deal? In fact why are not all supports of this deal buying up big now, do they expect the price to go even lower?

PS hold sentiment only because I bought in to price drop last week hoping for a bounce.