In my opinion based on the available facts I would say that the SP was intentionally pumped up to achieve a higher 5 day VWAP for the credit raising to allow "mates" in.
You will notice it is exactly 5 days on increased volume and SP before the TH has been called. The announcement on the 20th was a "nothing" announcement which provided no new information to the market that wasn't previously known but would allow the company to have a "get out" if they got a speeding ticket from the ASX. A company doesnt wake up one morning and go "lets do a 3.5m credit raising because the SP is up for exactly the last 5 days".
The above is all in my own opinion based on SP performance over the past 5 days, timing of credit raising and announcements released.
RLE Price at posting:
13.5¢ Sentiment: Hold Disclosure: Held