Annual general meeting resolutions

I have just received my copy of the resolutions set for the Annual general meeting
And it makes me sick to see how the SH will be robbed of their equity at the stroke of the pen at the meeting
I do not agree with this type of behavour IMO

if the resolutions proposed are accepted by the SH and allows the company to proceed with resolution 4
Then the dilution of the share price will be devastating
For those waiting for the gold pour to happen they will be sadly disapointed after the resolution 4 is accepted
The SP is down the drain far enough now without further 10%!dilution helping it down further

With the financial,position of ERL being in such a poor state it appears to me that the SH are being used to cover this bad handling of the finances
The only people who will bennifit IMO is the lenders and the directors not the SH

I would like others opinion if I am so wrong with my judgement