This will not necessarily be the case, as the EFFECTIVE date for SHs to get their Diablo allocation was 7 September and that date has long passed.
The drop occurred soon after the 7th of September, down to 3.9c, and HWK has now recovered.
The HWK share price has already de-coupled itself from Diablo, and, for all practical purposes is a pure lithium play since that date.
I stand corrected if anyone has a better and more accurate understanding of this mini saga.
Ann: Letter to Shareholders regarding Diablo Priority Offer, page-68
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