Ann: Capital Raise - Placement and Security Purchase Plan, page-32

You don't need to keep the share price above 5.7c as no one in their right mind would sell below 5.8c in any case.

1. There is no arbitrage below 5.8c.
2. There is no guarantee that they would be able to get back in through SPP.
3. At 5.8c the company is valued at about $55mln including $10mln in cash, profitable operation of 240kt per annum and guaranteed expansion to 625 kt per annum.

Those bids and the traded 6mln shares today represent the brokers scooping up cheap shares from those who believe they would be able to get back in at 5.7c.

Funny how all the selling pressure of the past six months suddenly disappeared once those who wanted in suddenly got what they wanted.