Ann: Share Purchase Plan Offer Document, page-75

You are quite right, that was the point of my post
The placement was done prior to the SPP so the sp had dropped to the placement & SPP price.
That price spike up to an intraday high of 24c, closing that day at 20c, was the lead up to the DFS, the spike with the news, then sell the news.
It went back to the SPP price & traded sidewards 14-16c till the end of the year. They had just doubled their shares on issue at 16c - you have to expect that after such a big raise.

This time we're looking at 5% of issued shares, not 100%

The point of that post was companies generally don't like doing SPPs because it gets sold down to the SPP price very quickly.
In the 2020 16c SPP case they had the sweetener of the Goulamina DFS announced prior to the SPP closure - that got it over the line.

My post was asking the question (as @@ozblue pointed out) What do they have up their sleeve this time to get it over the line. Management would not have expected our present share price (68c) after announcing the SPP, they'd expect it to be around the 58c mark with no announcements. Like last time, I tend to think there will be an announcement prior to the SPP closure. (mind you at 68c they don't need any sweeteners now)

It is interesting Mike was going to Mali a few days after the 25th Oct, then on the interview on the 27th he said in a few weeks time. Something happened for him to defer that trip 2 weeks. I might be jumping at shadows, it might have been something personal etc etc.