I found some interesting info on the net here. Check this chart out very interesting from Kaiser Bottom Fish. This is assuming only 50% interest of Nyngan and prices up to $3,000 for scandium oxide. 

http://www.kaiserbottomfish.com/s/Trackers.asp?ReportID=488208&_Type=Trackers&_Title=Tracker-2011-06-Recommendation-Strategy-for-EMC-Metals-Corp

If we can confirm the price of Scandium which one source here has said could be over $7,000 per kg

This thing could be worth over $3.50 NPV per share at least

 

Another quote I found intersting ''I have also run the DCF model at a "fantasy" 3N scandium oxide price of $3,000/kg on the premise that if this price was supportable 20 years ago when there was more ample supply than today, it might be supportable today if EMC and Jervois can deliver a 26 tpa supply. At $3,000/kg the 200 tpd scenario yields an NPV of $313 million with a 97% IRR which gives EMC a $0.94/share NPV and Jervois $0.04/share, and at 1,000 tpd the NPV jumps to $1.4 billion with an IRR of 155% for $4.12/share for EMC and $0.19/share for Jervois. Obviously annual demand for 118 tonnes cannot evolve from 5 tpa overnight, which is why I am only presenting the larger mining scenario as an example of the impact scaling Nyngan larger from its proposed 200 tpd "pilot plant" operation would have on the bottom-line.'''

A 200tpd at $3,000 with only 50% interest is worth NPV $313m and now we have 100% so that would equal $626m not even including cxurrent prices of Scandium which is $7,000?