Updated Valuation and SWOT - RSG, page-38

Basically you are multiplying the EV by the overall Mining Cost and dividing by the square of the Production. What you call $1000 is really just a constant that you use to bring the result into an easier range to view. This seems a pretty meaningless measure of value to me but if you like it, then who am I to argue.
As mining costs increase and production is static then your measure becomes greater unless the EV diminishes, which I guess is what tends to happen in practice. Equally, when production increases and EV and mining costs are steady your measure decreases rapidly, thereby requiring the EV to increase rapidly to maintain the measure. However, rapid increase in EV matching the square of production is unlikely to be the case in the real world.
Effectively you have an inverse measure of "value". Increasing production lowers the value, as does decreasing mining cost.