Ann: Bidder's Statement, page-6

I think the bid will be increased to around 60c before 10th Aug.

They soaked up as much as they could at 51c before people wised up.

Wouldn't surprise me if they are acquiring at market through a "non-related" 3rd party now ...to accumulate as much below 60c as possible without being too obvious. Although this might contravene some ASX take-over by-law (so maybe just my cynicism showing).
without prejudice.