I think BHP will offer once the FIRB is decided IMO. There is a chance - albeit small- that they may knock it back still and BHP can pick it up then cheaper.
If BHP waits, their offer may only have to be 75% of the MM bid.
So, once the FIRB give their decision, I think then BHP or some other interested party will arise as they will know then that it is now or never. MM I think will always want the PH mine as China will continue to be heavy users of Copper and gold is at record prices.
BHP will then have to pay top dollar to take them or miss out completely on most of the major assets. Bad business from BHP I think given how close PH is to their own infrastructure.
OZL stated that all but one mine is CF positive now, or at least not costing any further capital (According to their reports.) What do BHP have to lose????? They would get access to A$10b+ in mine value through OZL, albeit in good times for 1/9th the cost....or about 1 month of NET income.
OZL Price at posting:
$6.30 Sentiment: Hold Disclosure: Held
