VotingThe outcome of the vote is not something I would be betting on. I very much hope the F&M attempt at control fails, but I expect that they did not launch this attempt without assurance that it stood some chance of success.
There are times that change in control is in the interests of the ordinary shareholder. This would be the case if the company was to change from ineffective management to the control of a group whose interest was the financial interests of the company and shareholders as a whole, with rewards to the management group based on company success - not Board Room rewards to a select few, regardless of their contributions to the Company. Conversely, the change in control will be to the detriment of the ordinary shareholder, if the ultimate goal of the new group is to benefit the new management group and a select few, while ignoring the well being of the company and its shareholders. As has been pointed out, there is, at least, one rotten egg on the F&M slate whose track record puts him in the latter camp.
I have no idea what the ultimate goal of F&M may be, although I do have suspicions. I am pleased that most on this forum seem to have the low opinion of Randy Miller and Company, that is so richly deserved. However, his pathetic track record could be unknown to many of those voting on the two slates. By using funds provided by investors in his own failed mining operation, he has acquired a position of influence in this deal that was purchased, not earned. F&M have tarnished their standing, in my opinion, by associating with Miller. They are proposing that he become a Director and participate in management of URSA, they will be beholden to him in some way for the shares he controls [acquired with funds provided by ISM shareholders, many of whom have seen their investment decimated under his charge].
Market activity since announcement of the F&M option does not seem to be a wild stampede to jump on the coattails of this self proclaimed group of mining company wizards. I suspect that if they are successful in gaining Board control, there will be no huge upward swing in share price in the near future. To make the F&M approach function, there has to be a fairly prompt pay back to the wizards, in some form or other. I don't see them as a patient participant who can wait around as URSA cautiously grows from its own modest cash flows. The F&M solution will likely involve arrangement of equity financing or reorganization ventures that grease the wheels of the F&M wizards and facilitators in no risk fees. This will involve dilution, and unless it is very well executed, downward pressure on the share price. It will be managed by financiers and a few mining advisors that may be brilliant, or may be available because they were bounced from other mining companies. The mining man with a history of developing URSA will be gone, and Randy Miller will be present. I can't imagine a bigger backwards step!
Any shareholder that hasn't voted still has time in the coming week. This isn't something that should be lost by default.