I think that you just need to look at how lithium stocks have...

I think that you just need to look at how lithium stocks have performed in the past few years to see that market pricing is often not rational and management has no direct influence on the share price in the short term. Who says Pilbara and Allkem are now valued equally correct in relations to their intrinsic value? Comparing one stock to another and taking an underperformance to say where are the synergies is to oversimplify.
The synergies could already be reflected in Allkem moving forward with Sal de Vida without major delays. Also who says that there will further delays to Naraha?

"what poxy excuse do you think they will conjure up for further delays?"

Do you really call covid-19 travel restrictions to "conjure" "poxy excuse"? It wasn't just about moving people but also parts for the plant and I am pretty sure Allkem isn't responsible for covid-19.