Ann: Optimised Seymour Project PEA Highlights Robust Economics, page-4

Really - I expected better than misinformation to try and discredit this PEA.

An NPV already incorporates capex so you don't need to subtract capex to get back to a net result. Some will sensibly assume projects under-estimate capex and provide a haircut to the stated NPV in relation to a probable higher capex but if that is what you are suggesting, a "haircut" of doubling the proposed capital expenditure to adjust for optimism - IMO that's excessive.