Asteorider - while your comments make sense I'd just point out...

Asteorider - while your comments make sense I'd just point out something from the opposite view.

It would be in Keys interest to maximise the share value prior to placement because it means more fund in their pocket i.e.
70m shares at 10c = $7m
70m shares at 20c = $14m

I would agree with you if the way it was couched was in $ terms i.e. $7m worth of shares - lower price would mean dilution even further i.e.
$7m shares at 10c = 70m shares
$7m shares at 20c = 35m shares.

As they are coming from the former - I'd say its in their interest to get the SP up. Therefore again in their interest to have the potential purchase increasing value, or an announcement out to raise the price.

It may stink of conspiracy, but hopefully the board being in a position where they would dilute their shares would want their value to improve over the medium term as well.

Again just my view