per share value of sarco, page-9

DFS has NPV of $410m. The remainder from debt funding.

Using the above figure which is CAPEX you get 14c per share.

I have addded the debt funding in. Either way you get between 15 to 20cps.

Once built and nearer to production well thats a new ball game. The DFS has not included the debt due to market risk. I back NFC hands down to achieve this but it will take time.