I did some math.In 2019 they had a margin of A$13.2Let's assume...

I did some math.
In 2019 they had a margin of A$13.2Let's assume that this year the margin increases to A$27.
With 4 million tonnes, the profit is about 108 million.For this, there is a market capitalisation of 96 mio.This results in a pe of 0.9But that is even better.With the profit from 2021, the debt can be reduced significantly and a lot of cash can be set aside.The money for expansion to 6 million tonnes would basically be in the bag.At the end of 2021, we could be left with 0 debt and cash in the order of magnitude.
You pay a dividend or buy up somewhere in the raw materials sector.
If 6 million tonnes are then extracted from 2023 onwardsand the margin falls back to 13, the pe would still remain at 0.9.
So, to my eyes, this is a very very very cheap producer.
How do you see it? Have you done any calculations or have you developed a model?