Few Things1. Total number of shares voted is quite low. Did the big boys dissent? They did not sell on open market. We'd have felt Harrington or K2 dumping millions of shares.
2. Either KA is going to mine the stuff with the limited amount of $ available, or there is a plan B which I speculated about in previous posts basically entailing a foreign injection to restart mines and the person putting in the $ does the mining and ELR does the distribution or biz side of things. Look to the Alderon/Hebei deal which happened a few years back as a reference (and coincidentally we've got David Li from Alderon as CFO)
3. Or, KA has a buyer for assets.
In any case, the options issued is bad.
Count it as a sell signal if they are restarting production.