Red is correct in saying that the Company is aware of dilusion;...

Red is correct in saying that the Company is aware of dilusion; there is a table in the explanatory notes indicating the possible scenarios.
The important resolutions at the AGM are 15 and 16.
S 15 allows for the placement of 10 mil shares over a 12 month period at: "not less than 75% of the VWAP of Equity Securities in the same class calculated over the 15 Trading Days on which trades in that class were recorded immediately before: (i) the date on which the price at which the Equity Securities are to be issued is agreed; or (ii) if the Equity Securities are not issued within 5 Trading Days of the date in paragraph (i) above, the date on which the Equity Securities are issued."
S 16 allows for an issue of 15 mil shares: "no later than 3 months after the date of the meeting (or such later date to the extent permitted by any ASX waiver or modification of the Listing Rules) and it is intended that issue will occur on the same date. (c) The Shares will be issued at an issue price of not less than 80% of the 5 day volume weighted average price (VWAP) at the time of issue."

Whether or not existing shareholders will be significantly diluted would seem to be dependent on the circumstances and the timing.
S 15 allows for significant flexibility ; S 16 is quite restrictive.
But both raisings face similar issues. Can the Company wait until after contracts have been signed and there is pressure to have the funding in place? Will the signing of deals raise the share price? Is the 15 mil raising able (under the rules) to be deferred until the sp has improved? Can the sp be held down by potential participants in the issues? Etc, etc.
Management might well have things all sorted, but if institutional and sophisticated investors decide to play hard ball, retail holders may be the colateral damage. As is not unheard of*.

[*recently, in my experience]