If they have given up on the possibility of funding the new mine...

If they have given up on the possibility of funding the new mine development, which sounds likely, then cash burn won't be huge as it is a straightforward liquidation. May look to sell mining rights and existing infrastructure which could take a few months.

best outcome would be to get $50M mine rehab provision back in a potential mineral rights sale. Someone could bend Sierra Lions over a barrel for future mining royalties if they agree to restart the mine.

Also, with other rutile suppliers suspending production (Illuka) , and customers knowing supply might be restrained they may get a good price for inventory.