I don't think it's impatient or frightened shareholders that...

I don't think it's impatient or frightened shareholders that selling their shares. There's clearly lack of retail interest here due to uncertainty but I think it's some entity carefully maintaining the share price at 16.5c by Selly into buy side and buying when shares available at low price. Lack of retail interest making it even easier for them.
I also don't think our strategic consultant engaged for the sale are doing a good job. They hardly managed a coveted low ball offer out of 12 interested parties. They don't deserve the amount they will get if the sale actually go through. I think it would've been far better if we had a European or North American base strategic consultant.
The project is in an European country, a first class jurisdiction and with the gold price is red hot, this project deserve a lot higher price then the current offer.
From the last quarterly, we know that we had only 1.63 quarter with of funding which should take us to mid May before money run out completely. So don't have much time. In my personal opinion, company should seriously think about a CR by way of SPP or Right Share offering to benefit current shareholder and delay the sale process until a suitable offer received.
I sincerely hope, management is not sitting there and hoping for a miracle offer come towards their way. They actually doing something that is good for the company and good for the SH.

All my personal opinion only.