Ann: MBN Q2 Investor Presentation, page-153

As expected, from the VA report there was nothing mention that they have high production cost (unlike last time when KM tried to sell the mine and MBN had very high production cost), that's because they don't as stated by the CFO multiple times!!!!!.
The highly conditional bid was from the Note holders insulting bid.
And this is a dozzy, "The Receivers consider it highly improbable that any offers by a creditable third party would be made in the current market and in excess of the current debt owed to the SCSN. The Receivers obtained a confidential independent valuation that supported this outcome."