Surprising Development : Whats the Play?

So Ruane is out and now Ruane is back in.

Recap
1) Ruane led group 249D EK and lost
2) ANother group 249D EK and lost due to Ruane voting with EK.
3) Transpires that Ruane voted against due to clause in contract for him selling all his shares to AXF Resources.
4) Shares sale of 17% of company to AXF goes through. (@15c per share)
5) Less than 4 weeks latter Ruane takes a new 10% stake in the company. (@9.5c average) obviously through off market because that much stock hasn't gone through.

Seems that something is going on...