"they are planning their next moves as well....what's it all worth to them?"
Many juniors are going for 30 to 50% above current trading price But most of the properties and companies of the Ring are a special and distinctive case.

We have FWR of the past as an indicator of what could be, they went for four times their then trading price. I think the companies of the Ring could easily be bought for 4 to 10 times their present trading price. I consider KWG and Noront a bit more special than the rest, I mean closer to 10 x.

Some of you seem to think that Baosteel is a saver. I do not give that much thought.
I also believe that they are mostly interested in secure source of supply so to me that means that they could easily flip IF the buyer were to guarantee them that supply safety. Couple that if the buyer converts Bao's hold of shares in bought company into the buyer's. Probably then Bao would have enough shares to be granted a seat at the Board of the buyer and thus that would be an additional guarantee.

RCF is a tougher nut to crack. They are in for profit above all else. They are not likely to flipunless there is, in their opinion, a fair price. With RCF getting a fair deal, Bao could/would not sell for a lower price on their own so in effect they are a tagged team.

I am talking about BAO and RCF because they have a vested interest in Noront.
But perhaps one or both have their feet (unofficially) in the door of some other companies of the Ring. That would not be a surprise to me. However Noront is a prime candidate because of the nickel ore and earliest time to market.
Chromite being much delayed due to lack of railway, a stake in that from any interested party may be on hold for now.

Just my answer with my musings. Ed.