SYA A NPV Valuation

Hi All,

I'm aiming to do a comparison of all upcoming hardrock lithium producers. For SYA I have used the PFS: https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02523963-2A1375128?access_token=83ff96335c2d45a094df02a206a39ff4 and the latest investor presentation: https://hotcopper.com.au/threads/ann-leo-lithium-africa-down-under-investor-presentation.6930901/ I'm sure I have made some mistakes however I'm more then happy to fix them providing the information is sourced:

Assumptions in model:
1) No Royalty (Can anyone confirm there are no royalties in Quebec for Lithium)
2) Tax rate of 30% (Again finding conflicting things for canada and Quebec)
3) Capex and Opex remain Constant and evenly distributed whereby SYA bears 75% of the costs for CAPEX and participates proportionally in the production and OPEX.
4) I have assumed A$716 OPEX for the life of the project
5) PLL Buys 50% of production until 2025 @ US$900/t
6) Nothing factored in for downstream CAPEX, OPEX, Revenue. (If anyone has info please feel free to share)
7) Other projects not factored in (if any production please feel free to share).



I'm sure there are mistakes so please let me know where they are and I will update accordingly. The aim is once I have a final model for each company I can do a comparison. All financial metrics are in AUD.