The general feeling was the directors wanted to give some money...

The general feeling was the directors wanted to give some money back to shareholders so there is a IMO a good chance of getting some coin back in the form of a cheque. If that happens, what that amount is will IMO encourage some buying back in so we may see some green there. There is the possibility of another offer which may lift the SP as well. The advice given to the directors was not to hang onto the money but return some so.....maybe. The general feeling was to look for acquisitions in a tough market with what is remaining.
I too am not that happy with the chance of $1.60 slipping away - I still don't see why we can't continue down the path to production but as you say the 27mill votes carried sway and the ink is dry on the agreement in lieu of a counter offer.
Good luck all