Confidence Badly Shaken

Been a long term supporter of management but starting to question why?
Stock has lost well over 33% of its market cap in less than one month. Yep - understand the IOH merge and the Fe price, hedge fund abritrage etc etc etc but BCI has normally been one that has been less volitile than the others (AGO, MGX etc) in the sector. Especially with the significant cash backing behind it.
The recent 4-5% down days are really disturbing and the lack of any buying support is really concerning. Apart from the upcoming issue of shares (assuming the merge goes ahead), the stock would be looking at dropping outside the indices.
Not looking for any solutions but think that the market premium for good management and consistency has just been obliterated with the merge announcement - mind you - they had to do something with circa 6 years of mine life left BUT shareholders would have been better off at this stage letting the mine operations run down to depletion and returning all excess cash back to us.