chinese offer , page-18

Is anyone else wondering why this new investor is offering an amount LESS THAN what the mystery investor did last year, (pre-JORC), at 3.5c, who then disappeared?

Wouldn't it be reasonable to expect a serious initial post-JORC offer to be more than a pre-JORC offer?

What am I missing here?
If this is a low-ball offer, I would vote against it. (Assuming I still have the patience to hold and see how this China_v2.00 pans out!)

And how do these proposed options at 5c work?
If that is the price to convert, then what is the initial price of the options?
Or will they just have the ability to buy more shares at an agreed price of 5c at that point in time, irrespective of what the prevailing SP is at the time?