From BHP's news release it's clear that the discussions are around Wyloo tendering THEIR shares to BHP.    If the discussion were as simple as only being about the dollar amount I can't imagine that they would need to extend the date again.   So it's obviously more complex than just $/share.

I'm leaning to the discussions being around amending the offer and setting up a NewCo with shareholders being given the choice of $/sh or participation (eg. 1/10th NewCo per current NOT).   That would open up negotiation opportunities around how BHP would fund the NewCo, First Nation participation, government(s) commitments, and for all we know Tesla's direct involvement.  

In just a few months we have seen the focus on NOT shift totally from Chromite to Nickel and to FirstNations infrastructure which allows both the Provincial and Federal governments to openly support a 'Green and First Nations friendly project' and navigate the environment agenda.  

Twiggy's involvement helps with selling the green agenda.  He has spent most of the past year pushing high profile green initiatives including during his participation at COP26 (and for Babjak ---- I wonder if Twiggy had time to chat with Trudeau when they were there).

Its also hard to ignore how quiet the First Nations have been and the recent volume of political capital that Ontario/Ford has been expending lately on the ROF.  

If all these parties are in on the discussion it would account for the need for extra time to pull together a deal.  

The final challenge will be to get enough shareholders on board to push through a 100% ownership of NOT so they can pull off the 'deal'.  Both BHP and Wyloo may have been surprised by retails resistance to their generous offers but they certainly know what the expectations are now and with all the parties now involved/commited(?) it's time to bring retail on board.

... Been There