My read and opinion is that the bidding war is over and a sale price has been established at least as it pertains to Wyloo and BHP.  Appears during the discussion between Wyloo and BHP a partnership was never going to result.  Wyloo put a sell value on their shares of Noront and BHP couldn't/wouldn't agree on it.  The only process forward imo is BHP comes back with the price Wyloo valued it at or they simply bow out.  Wyloo is clear that anything less than that they will beat up to the value they placed on it.  BHP therefore would be wasting their time by offering incremental increases. 

I reference this by the following statements by Wyloo...

“We’ve got a view on the value of these assets and

 if we don’t think BHP is going to pay that price, we’re not going to sell it."

“They’ll have to go back to the desk and

form a view of what they think it’s worth, but we’ve got a very strong view of what we think it’s worth and that’s why we made the bid today.”

64,000 question is.... what does Wyloo think it's worth.