Ann: Conditional Non-Binding Proposal to Acquire All MYL Shares, page-45

Agree that this announcement doesn't rule much out. Perilya may have just been waiting to see who blinked first before making their own offer. Now they have an idea of what they could get a way with.
Its easy to forget this asset was looking to be worth 20-30 c not long ago. Its still worth a good part of that valuation if the Junta are serious about showing they can deal normally with investments such as this. God knows they have said they will many many times. Thats not likely any time soon but it may happen within12-24 months.
Hope the board stays patient and doesn't give it away out of fear.