The acquisition cost payable to POPL is $300,000 in Trek Metals...

The acquisition cost payable to POPL is $300,000 in Trek Metals ordinary fully- paid shares
based on a deemed issue price of the lesser of:
(i) the 20 trading days volume weighed average price for Trek’s shares the day
immediately prior to the date of execution of the Agreement; and
(ii) the 20 trading days volume weighted average price for Trek’s shares three (3) days
prior to the Settlement Date

So assuming they still are doing due diligence, the price will still go sideways for atleast 20 days.
I would assume pilbara would want the price to be as low as possible. The second line is even scarier because who knows the settlement date might even be 3 months out and that means the price is going to languish a bit.