Honestly speaking, what options do they have left?
Ideally, some sort of deal with the USG to create a strategic cobalt reserve at a fixed floor price (a "number with a 2 in front of it"). That way, they could bring the ICO back online & generate some much needed cash flow.
Alternatively, the USG agrees to provide some funding, so Jervois can sub out the looming bond.
Lastly, the bondholders agree to a debt for equity swap, but imagine the implications of that? And wouldn't the bondholders simply take Kokkola in the event of a default?
Honestly speaking, what options do they have left? Ideally, some...
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