We remain at a ridiculous valuation. Let me just lay out the...

We remain at a ridiculous valuation.
Let me just lay out the numbers again.

Current market cap - $1.5b

Amount of Spodumene to be produced a year - 190,000 tons per year

Cost of producing Spodumene - between USD364 (that was what our DFS was done on), lets double that to be conservative at USD800
(source: Microsoft Word - CRELI046 DFS Announcement Presentation v22.docx (markitdigital.com))

Price of Spodumene - USD5000 in the highly manipulated Chinese spot market, after taking into account recent falls.
(Spodumene Concentrate(6%,CIF China) today | New Energy | SMM - China Metal Market)
Remember PLS realised USD4993 per ton in their latest half year report.

190,000 tons per year, sold at USD5000 per ton, minus $800 per ton cost.

Convert it to AUD by multiplying it by 1.51

I'm getting just under AUD1.2b profit per annum.