ron,
You may be right about unwinding of some of the blocks bought during the proxy fight. It's interesting to note that Columbus Gold (the chief instigator of the proxy fight) has no more ER shares as of 31 May 2016.
Also Robinson and his wife (Butella) may have unwound their holdings as well. Time to collect the marbles (2.8M +0.6M = 3.4Ms = over $2M) and play elsewhere.
Thanks for the SOI link. If you got in earlier, i.e. at the time the bottom fisher gave the interview, then you are sitting pretty. So, we are now waiting for a second run of SOI?
GH