I think youll find that there are more sellers than buyers at...

I think youll find that there are more sellers than buyers at the moment, as all the buying money is with the company facilitating the SPP, not on market.

However,

Pending the results and decisions from management (scale back / accepting a higher raise etc) we will likely see some movement, I am forecasting appreciation.

With roughly 4% share dilution from the raise (25M/620M) if it is scaled back that's a great sign, and you will likely see share price appreciation, due to the show of confidence support (if people do not get as much as they thought they would, or sold, thinking they would get a higher allocation, they often buy on market... a bit of a FOMO effect) money will move from the company facilitating the raise, to market and there will be a consolidation of buyers vs sellers.

If the company accepts a higher raise, it would likely be not much higher, as they would be weary of dilution.

Some people will sell immediately, for an easy ~10%, or to reduce their holding to balance their portfolio. This will form some of the SP consolidation following the results of the raise, and issue of shares. This may cause a small dip in SP.

Note the math though.
To get to 58c from here, we would need $62M to leave the stock.
The company is raising $25M. If you assume all of the shares issued in the SPP, or all applicants trade their current holdings for what they pick up in the raise to balance their portfolio, $25M only should leave the stock, Dropping the SP to around 62c.

More than $25M could leave if the shares are dumped on issue on the 29th Nov, and people panic sell, which is irrational (unless their market sentiment has changed)

I expect the SPP to be well supported, and there to be a scale back which should support the current SP.
with roughly 960,000 shares on issue, and the fact we only need 834 holders to apply for the $30k max to exceed the $25M limit, i fully expect it to be over subscribed.

Patiently waiting for the results, and more importantly, looking forward to the DFS & 2022.

Not financial advice,
My opinion only,
DYOR & MYOD
Happy Trading
- Leezy