If there is a communication from BHP to Noront, I would expect a corresponding press release.

It's entirely possible that BHP responds with a completely new offer that the BOD would then need time to digest.

IMO, I think Wyloo made a mistake with the loan. They could have easily absorbed the $13M termination fee and remained in a favourable light for anyone wishing to continue with the "New Noront". As it stands, it appears (rightly or wrongly) that they plan to dilute existing shareholders into extinction.

BHP now has a real opportunity to swing shareholder sentiment in their favour with a solid bid. As someone else pointed out recently, if the bid is high enough, even Wyloo might find it attractive.

Hobbit.
(One Ring to rule them All)