Why?
Because LJ, BS, and Windarra have a collective estimated (published) rehab. cost >$62m, along with ongoing C&M costs for LJ & BS.
So, unless a potential suitor has deep pockets (to fund ongoing C&M) and is willing to asset-bank the projects for many years -- esp. BS & W (re- Ni), then it's not terribly difficult to see why anyone might be hesitant in putting themselves on the hook for the lot -- or any of it, for that matter.
It really would be nice to know what scared MIN off, but I doubt it will ever see the light of day.
PS. I had a quiet chuckle at the mention of POS having, "...received interest in the project from a number of parties" in today's announcement. it's the kind of non-descript statement that, although most likely technically not untrue, is unlikely to amount to anything except plant the seed of continued hope without really saying much at all.
It reminded me of something that BS mentioned to me, directly, during a sit-down meeting I had with the full cast of management in early Q4 last year. It was something along the lines that over the preceding couple of years, or so, POS had been approached by no less than 100 interested parties wrt the BS project (yep, he used that exact number!). No context around whether it related to purchase of the project, potential JVs, offtakes, or whatever else; just a large number thrown out there -- presumably promotional marketing for my benefit. And look where BS is at right now ~7 months later.
So, when I read "... a number of parties..." this morning I had a good liitle chuckle.
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