Ann: Major extensions to Eagle and Diucon, page-46

north of $3 a share
Why not?
14 September 2020 / Placement of approximately 83.4 million shares priced at A$1.20
22 October 2021 / Placement of approximately 113.6 million shares priced at A$1.10
6 October 2022 / Placement of 130 million shares at A$1.00
2 October 2023 / Placement of approximately 285.7 million shares at a price of $1.05

= 612.7 million shares

Did the buyers want price gains?
Or did these buyers want to secure a share of a future producer?

I suspect the buyers are playing in the long run.
It would have to be a convincing offer.