There's more to a share price than just a flat-out P/E ratio.
PLS commands a premium because it's not going to go bankrupt anytime soon, does not require any debt or equity raising like most other Lithium plays out there, has a proven management team, a proven stable operation, a proven 30+ year resource, has organic and fully funded growth plans and yes the market is factoring in that when Lithium prices bounce (and they will) that PLS will be in the strongest position of all the players.
The market should and does pay a premium for quality assets and companies.
Your constant bickering over a PE ratio not going beyond 6 or 8 for a mining or commodity company is complete garbage, just look at Cameco CCJ on the TSX/NYSE. It has a P/E ratio beyond 60 and that was also the case when the Uranium price was in the pits and they were cutting production, because it's a quality company and one of the largest Uranium miners in the world.
In saying this i am not discounting that the SP cant go below $3, but to say straight out earnings only determine the share price is outright wrong.
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