Ann: Bawdwin - A World Class Silver Project Presentation, page-150

Just had a quick glance...you are taxing us twice.

The PSA is the tax.

Don't be offended but your method has a number of holes. Including, MYL have already stated that the plant will be larger for the DFS.
Also, you can't just attribute a % of EBITDA as operating costs. Op costs will be relatively constant but metal prices will fluctuate. You need to establish operating costs IMO. Obviously they will be refined as more info comes to hand.