East Coast Research: Analyst Report for Impact Minerals - HPA Lake Hope Project, page-57

In normal circumstances the end of day auction is to allow the brokers to tidy up outstanding orders.
In a larger market cap share, funds like ETFs and index managers use either end of day prices, or sometimes volume weighted average prices, to initiate or quit positions. You will see it often on ASX rebalance days once a quarter, when the end of day auction is for massive volume and frequently different from when the normal market closed, dependent on whether the buy side or the sell side is bigger.
You can put in a bid before the market opens at .05c and it will get filled at whatever the price happens to be based off the volume of sellers, so if there is a seller for 1m at .02c and you want to buy 100k, you get filled at .02
If you wanted to buy 20m then all of the offers would get paid until your order was filled, be it at .021 or all the way up to .05

Forget about the prices, focus on the price where the volume is being matched. Thats all that really counts.
Good day at the office. May need new news to push on much from here.