There is no way they can run the mine at the current LME price of US$12.95/lb, @quickthinker. You appear to be working out the costs wrong. Also the US$7.95/lb is the cash cost, not the AISC.
Look at the BFS and check the sensitivity analysis for +/- 30% (on page 22). A -30% reduction in the assumed BFS cobalt price of US$25/lb down to US$17.5/lb drops the project NPV down to just US$8M. The current price is almost a 50% drop so the NPV would be negative (especially given the capex overruns).
There is no way they can run the mine at the current LME price...
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