Interesting math and assumptions.
However where I think you are off base is in the current SP.
I suspect the current SP has already got the Chromite factored into it. That's likely why it rose from 10 cents to where it is today,
I own Probe as well and would love to see a price over $1.00.
My bet is that it will go over $1.00 but that will have more to do with the nickel at Eagle 1 than with the very prospective chromite targets on the NOT jv.
Also it may be influenced by the recent results in Timmins.
SN