I would envisage that if they thought they were going to lose...

I would envisage that if they thought they were going to lose their seat, they'd be trying to defeat the resolution by gaining the support of majority holders / institutions. Notwithstanding, you don't know how this will shake out unless you try. I'm not trying to discourage folks, just pointing out the challenges.

Full disclosure, I sold out yesterday for a considerable loss, albeit it wasn't a huge position in my portfolio. It's frustrating to exit at what may in time become an attractive entry price, because the market cap. looks relatively cheap (although that doesn't mean it can't get significantly cheaper, despite the cash in the bank). Indeed, I probably should have been more focused on the performance of this company and exited sooner. However, I was preoccupied with the performance of other holdings, most notably FYI. I think EGR has plenty of potential, but I just don't have faith in management's ability to deliver on that anytime soon. And there is an opportunity cost in holding to see if management can actually deliver anything tangible. I just think that I'm likely to get a better short term return on those funds by redirecting them elsewhere. FYI looks to have found a bottom at circa 15 cents, so I used the funds to do a top up on that holding. Their market cap. is ridiculously cheap and there looks to be a lot less risk to making it to full production i.e. they are fully funded by Alcoa. By the by, it is noted that Spinks has a considerable holding in FYI. However, to my knowledge, Rolland Hill is not a substantial holder in EGR.

These punishing sell offs are very painful for shareholders, but you can't change the past. Investors just have to look forward and decide where the best place for their funds is.

GLTAH!