Is it fair to assume that the BOD do not see a recovery in the...

Is it fair to assume that the BOD do not see a recovery in the cobalt price to >70k/t in the next few years? Let’s face it the price stinks atm but are we not planning on a industry shortage therefore making these types of “strategic” deposits viable. Obviously with plant and mine construction any sort of developing would be min 18months in the making. 
Perhaps the met results are unfavourable too. I get stalling and reserving cashflow but to what end? When does this get going again? Say if cobat rises back to 80-90k or 100k do we then start development? After 18months construction what is the price then?

Any logical thoughts on this? Or are we to assume that this project is dead in the water and BB along with shareholders are left holding the worthless paper? I say assume coz that announcement has outlined what the future direction is at all.