Pls ($16B) Vs MIN($16B) PE PLS total revenue is$1.18B and net...

Pls ($16B) Vs MIN($16B) PE
PLS total revenue is$1.18B and net profit $568m with PE ratio of 24x multiple
MIN total revenue is$3.4B and net profit $340m with PE ratio of 46x multiple

Both company hassimilar quarterly Operating income circa $300m.
By looking at thefigure, it tells me that MIN net profit margin is around 12% vs 48% PLS, whichwhen you drilled down further,
You will realizethat the massive P/E difference or profit margin are attributed by their highemployment cost, i.e MIN 3800 employees vs PLS 446employees

This brings me backto Sayona and it's valuation in 1 year time.

If Sayona candelivery 226k of spodumene concentrate, in which half will go to PLL @ 900 andthe other half will be selling at market circa @$6500,
We should get anrevenue which equate to around $836m and OPEX of around $92m. After taking intoconsideration of $25m (100 staff salary), operational Expenses ($200m), wewill looking at a NET PROFIT of around $500m.
If we than apply anindustry standard of around 15x multiple brings us to a MC of $7.5B.

However ifwe use PLS multiple (which I can't see why not) that willEquates to 12B whichis about $1.19 per share