you're talking kak - in q1 the sp tested 18 a couple of times. So 20c wasn't out of reach.
its been 6 months since. 6 months ago, a resource upgrade was announce for march, then april, then q2. now we have a resource upgrade over half the data - ie half an upgrade.
if they were to raise at at 20, 25 or 30 I'd seriously be calling insider trading on this and ASIC should really be investigating it. I would personally take the case up.
I don't think the directors have a right to look after a subset of the shareholders.
CDS Price at posting:
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