I doubt they will raise their bid before the quarterly as...

I doubt they will raise their bid before the quarterly as it's not far off.
My guess is if it's good news in April , Job done ... Maybe they retract the offer or they raise it just enough to raise the floor price without accumulating much volume.

If the ramp up is still experiencing hurdles my guess is the offer stands until expiry.

It's possible looking at this from a ramp up to a year's full production perspective how ever long that was to take.
That the whole take over offer bid was only to avoid being shorted from let's say 0.35c with no floor to 0.58c with a floor ?

With the lack of positive news to date out of TIE I'm not sure the SP would be at 0.60c ish without the T/O offer if the shorts had this amount of time to manipulate it from 0.30c