I would have thought that Minres has put in a final binding...

I would have thought that Minres has put in a final binding offer to the liquidators at the Court hearing. Whatever the sum offered ('several hundred millions'), it would have to be a FIXED sum not a variable figure over and above $123million otherwise how would the Judge be able to ascertain if it is a fair deal.

It is only subject to change if the IER valuation is above the bid amount in which case the Minres offer would be raised. If the IER valuation is below the Minres offer then the Minres offer stands; because Minres having done its homework is willing to pay a higher premium so as to exclude/discourage other bidders.

Considering the recent frenzy to get hold of lithium assets nearby, the liquidators would have failed in its duty if the assets are sold cheaply. It would be seen to be unduely favouring the buyer.