"There's no overall good, higher bid that would have sorted out all our problems and made it lovely," said colourful conservationist John Wamsley, who founded the group over 30 years ago.

"There are bids in for all of it, and there are bids in for all the bits," he added.

Floated at the tail-end of the dot.com boom in May 2000, Earth Sanctuaries raised A$12.1 million ($6.28 million) with the aim of buying up to one percent of Australia's land, restocking it with endangered native animals and raising cash from eco-tourism.

But the group has struggled to generate enough income to keep impatient investors happy and needs at least A$10 million to ensure its own survival.

Managing 90,000 hectares (220,000 acres) divided into 10 sanctuaries, the group values its collection of boodies, bandicoots and other animals on its balance sheet and says its assets are worth around A$15 million.

"The present net tangible asset per share is 40 cents and we would expect to get something around that," Wamsley said.

"(The bids) fit in pretty well with what the value is." Greg Follent, director of corporate finance, at Earth Sanctuary's corporate adviser Challenger, said all bidders were Australian, but declined to give further details.

Shares in Earth Sanctuaries, which issued stock at A$2.50 when it listed, were trading at 23 cents last week.

Frequently outraging cat lovers by wearing a feral feline pelt on his head, Wamsley remains cautiously optimistic Earth Sanctuaries' collection of weird and wonderful wildlife will be saved.

"It would seem the animals will be alright, but you never know," Wamsley said.

"People can be having you on when they tell you they want to buy this and look after the animals," he said.