If sp doubles from here, i.e. 1.7c, mc is ~$25M
Assuming NPAT milestones achieved within first five years of venture, that's $60M.
$55M of upfront capital costs
Like i said, reckon if you're buying this LT, it would be based on expected upside to the project and expansion of the business.
As it stands, it's like a gold mine with a 3-yr LOM.