So, Wyloo quietly targeted Noront for takeover as a high quality, low price target. Grabbed the Loan and shares from RCF for control.  With a seat on the board, and somehow they didnt do any due diligence before their first offer? 

Noront enacted the poison pill and found other buyers.

BHP steps in with some encouragement from Noront BOD and side deals. 

Now Wyloo is butt hurt because they didnt get the same deal as BHP and thought they could just get the Ring for an absolute steal. Now they hate Noront BOD. 

Wyloo comes in with a higher offer just to mess up the BHP proposal. They dont need due diligence because they have all the info they need from their inside board member and the fact that they never really needed it in the first place. They have already done it. 

Now we see if BHP is serious or was just kicking some tires.

I now expect a written proposal/offer from wyloo shortly.

Does that seem about right?