This is Mr Burton thinks of his shareholders, page-31

I got the impression it was doing the rounds to the various TO groups rather than just needing a single signature from the CLC. Maybe some of them are out fishing? Who knows.

I get the feeling the sp will be stuck around 11c-11.5c until after the spp deadline passes. After that, there will be no incentive for traders to sell above 11c in order to buy back lower on the plan. If it stays near 11c, not too many will buy on the plan and so there won't be too many that will sell new shares bought on the spp for a quick profit.
So it would make sense that if the price stays flat at 11c up to the expiry of the plan, then it may be able to rally easily after that date. I'd rather see the plan flop. It's not like the company needs the cash and the less raised down here, the less dilution and less short term sellers after the plan expiry date. If there are no underlying issues with the project then all this might be creating the last big low for this stock ahead of ML, financing news etc.