The terms of the contract were never fully disclosed so it's anyone's guess what the consequences of discontinuing the process are, but if I were to paraphrase the agreement you suggest is in place it would be along the lines of;
"Here have our Karoo assets for $5million. If you ever get financing to mine it, give us another $50million. If you decide you don't want it anymore just sell it and if you can't just walk away without giving it back to us or paying anything further."
That just doesn't seem to make sense to me from a business perspective.
Karoo sale, page-6
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