No. That’s the NPV if you assume year 33 of production replicates year 32 for all materials, which is actually at least 35 years off so you’d need to discount that for three more years.
I get what you’re saying though, and yes, I am still saying it’s insignificant. No analyst, institution, or reasonable mind is attempting to value a non funded junior mine based purely on their NPV. Right now Niocorp is less than 10% of NPV, so your nickel is now less than half a cent.
These numbers only come into play after the risk of funding, construction, and ramp up have been removed. If all three of those things are successful, then a nickel is insignificant at ~1-2% of share price.