Which ship is PLS's 1st ?, page-25

I like the look of those numbers from a conservative earnings perspective without consideration of DSO, exceeding nameplate or big shifts from currently experienced pricing. Assuming the monthly earnings hit that target of circa $31M earnings from stage 1 production and extrapolating just that rate across a full year, that makes around $370M earnings per year and with 1.7B shares it gives around $0.22 EPS. Of course this also ignores tax and production costs. For production costs I think the general estimate for PLS is around $200-$300pt. If that’s right then costs are something like $0.06 per share taking earnings per share before tax to about $0.14. What’s considered a reasonable multiple from those values to SP? Happy to hear critical feedback on these quick calculations.