'Leaving the door open' could also be a clever hint to any other...

'Leaving the door open' could also be a clever hint to any other suitors that this project may not be available at their leisure and at any time Sandfire could lock this down.
Even if the board are very reluctant to part with this project.

From everything I have seen of JH and his close team, they are hugely passionate about this region and the land they have, and I have big doubts that they would exit this opportunity unless a very appealing offer came forth that at least began to take into account some of the upside.
An offer well under base case NPV of an outdated and soon to be surpassed PFS wouldn't have got anyone at MOD excited, but rather than close the door on discussions, MOD confirms they are in play and will consider appropriate offers.

I would be absolutely shocked if they let this go on the cheap.