Just for some context, near on 1/5th of the now issued shares...

Just for some context, near on 1/5th of the now issued shares were purchased by Sophisticated Investors at 16.5c at the start of July. I don't think these people wouldn't invest this close to a financing announcement that would see that equity investment fall. The SPP saw 40m shares purchased by the likes of us at 16.5c.
Over the last 3 weeks we've seen 8mn shares rolled over (1/70th of the register) at below this amount, which while affecting everyone's position, is being influenced by a pretty small amount of share movements.

I'm still supportive of the SPP, as I'd prefer me purchasing shares to contribute equity to the project than to have to raise the money at a lower price and further dilute my holding. I appreciate if everyone contribute's it's zero sum, and there's also a free-rider problem at play, but for me investing is about applying capital to the business need and seeking the EV growth and dividends. The secondary market we're in is important in determining the current estimate of EV, but it doesn't actually help the underling companies operations.

Apologies to jgroenheide for my part in him naysaying the fall. I guess it comes from being surprised at what the uncertainty will do to some holders (which at this stage seems like a relatively small number). For the life of me I can't imagine it's sophisticated investors, and it does seem like there's a wall to stop the share price going on a ride before we get the financing information, so guess will see who will hold on and how far it dips.

FWIW, i'll now take your advice jgroenheide on and wait to see how low it takes before some buying support and seller reduction appears before upping my stake again.