The size of the resource is not as relevant as the passion for the asset of competing bidders ... Ericson, likely you are not from Australia, but trust me when I say a small 1 bedroom unit in Bondi sells for a lot more than a 5 bedroom mansion in Penrith ... despite how many times the Penrith owner points out how many bedrooms he has. If it's for sale, the market decides what price to pay, and no single bidder without competition will ever pay 6 x current market value. the problem being that if only the Chinese are interested, does this allow competing bidders ... likely not. And it would seem that even if there is a likely bidder, they have the patience to wait it out.
For any bidder wishing to take over this project, the few hundred million for taking over AVZ is not going to be the biggest cost ... CAPEX for site establishment, infrastructure, power (and transport), and the time taken to get to production will be a bigger burden ... so even though AVZ is cheap, a takeoff with established miners that have already travelled the path to mining is cheaper
