Something is up, page-6

News just out on A40. Pay particular attention to the middle paragraph (highlighted section)

UPDATE ON LOAN FACILITY

Alita Resources Limited (ASX: A40; SGX: 40F) (Company or Alita) refers to its announcement on 18 August 2019, regarding the Standstill with the consortium of lenders led by Tribeca Investment Partners Pty Ltd (Lenders) in respect of certain asserted events of default under the secured A$40 million loan facility (Facility).
The Company and the Lenders agreed on 20 August 2019 to extend the Standstill period until 7pm (AEST) on 23 August 2019 to allow additional time to progress discussions with various parties regarding the Facility refinancing options and recapitalisation proposals.
The Company will make further announcements on the above matters as and when there are material developments.

OK, so we have:
1. an extension of time
2. various parties involved
3. refinancing options AND recapitalisation proposals

Looks, smells and feels like a bid will have to come from GXY as they have played themselves into a strong hand over the past few months.