Not all directors have exercised their options, only directors who might be leaving perhaps,

Tie up and locked in positions related to BHP bid @ .55 cents (feeler bid)

I believe BHP does not have the 50.1 %, accumulated,

Wyloo .70 bid did away with that price.  

Therefore BHP  must increase their bid, for all stock

I'm OK with 3rd party staying out until bids get into $4-$5 dollar range,

Coutts did good with present 2 bidders , BHP and Wyloo ,who have billion dollar bank rolls to spend,

War rooms being set up in 2 maybe 3 bidders 

BHP like a dog on a T-bone steak, won't give up this prize

Forrest will need to get down and dirty, like a good game of Aussie Rules Football

But in the end, the highest bid will win, 

Spot