PLH - my NPV calculation

An interesting Li company with a substantial Li2CO3 resource in Spain which is not currently factored into SP. The Li2CO3 R&R is 1.3mtns which has a product market value of around US$13b or A$16b. A scoping study is due soon and prior to its release I have prepared a rough NPV to gain an understanding of what the potential is here A similar company is EMH which also based in Europe.

	Column 1	Column 2	Column 3
0		Units	2020
1	Total Resources - Li2CO3	mts	1.3
2	Indicated Resources - Li2CO3	mts	0.4
3	Annual Production - Li2CO3	kts pa	15
4	Mine Life	yrs	15
5	Li2CO3 Market Price	US$/t FOB	10000
6	AUDUSD		0.78
7	C1 Cash Cost	US$/t FOB	5000
8	Spain Tax Rate		25%
9	Development Cost	US$m	150
10	Sustaining Capital	US$m pa	3
11	Equity/Debt		33%/67%
12	NPV (10%)	A$m	427
13	NPV (10%)[/B]	Per fully diluted share A$	1.61

So a rough NPV calculation using numbers from EMH's scoping study gives an NPV(10%) = A$427m or A$1.61 per fully diluted share. The current PLH SP = A$0.21 and MC = A$32m which suggests there is substantial upside yet to come. I suspect once the SS is released the SP might start to move.
These are my numbers only so please DYOR