CVA doesn't mean it's dead in the short term sadly, it means they're offering their creditors a chance to take pennies on the pound, and allow them to keep trading... The alternative is that the company is liquidated, which could leave creditors with nothing. Therefore creditors may well vote the CVA through and then this drags on for a few more years, having written off (or converted to shares) 80% of the money they owe so far.
In fact that very article suggests that many of the creditors are happy to vote for the CVA on the basis that some of the money owed is converted into shares, so clearly they're planning to / hoping to carry on with the pipe dream.
Actually, thinking about it, depending 'who' the creditors are, this could leave the project with some very interesting share holders. I'm worried that this might actually breathe another 5-10 years of misplaced hope into this project... :/
tl;dr This project should be dead by now, realistically they should have been going for a CVL (liquidation.) But I fear the CVA has been chosen as just another way for them to drag it out for a few more years to come.