Ann: Share Purchase Plan to accelerate work programs, page-28

I think you'd be crazy not to raise funds after the share price has doubled over a month or so. Kudos to the management for using no underwriter which would have meant 10-15% less funds received. As for the amount.. seems very low relative to Market Cap and will not be very dilutive at all, 5m shares aren't going to capsize any holding given there are 200m on issue.
Very conservative and well timed. They could have easily hit up a big bank and found $5m+ from placement type holders.

Clearly they have a very firm plan to use that money for, $5m+ probably would have seemed like wishful thinking but only $3m lends itself to being within the grounds of being useful for a specific purpose. I Like it.