News: COB Broken Hill Prospecting Updates On Thackaringa Cobalt Project, page-8

Of course they do.
You'll also note that they also put out an announcement prior to the meeting stating that they refuse pay for drilling because COB wasn't manager.
They just don't want to pay.

BPL has also been forced to concede that "if the cash call is valid" they will be diluted.

My point was whether disputing a resolution would be enough to prevent dilution, or whether they will be diluted and the courts will decide if the dilution is valid (should they choose to fight it).

IMO they've put out a number of misleading announcements. As a result, many BPL shareholders have been under the impression that they were still to free carry the project after the end of the earn-in.
No mention of the risk of dilution until today? I can't understand why BPL shareholders aren't more upset at the balls-up that's happening before their eyes.