Ann: Notice of Extraordinary General Meeting, page-13

...not even that...
Nic sp dropped mainly because one London investment fund sold millions of shares, for whatever reason. Among the many institutional investors with large holding, this was the only fund selling, during the TD saga with the LME.
If was not for that IMO the sp would have dropped, yes, but much less. That was one opportunity for some to average down or get in at 40% discount.
$1.37 is coming for sure, TD will be glad to get in at a discount, and why not, I has a shareholder am happy to be invested with the same entity that buys all the nickel we produce, they will never sell out of speculation, like a hedge fund.