General Discussions, page-360

Here is my basic share valuation technique, I am not a finance expert so please do your own research this is not financial advise. Using the May presentation
Avg annual LOM production of PSG - 28000 Tons
Sale price of PSG = 4312
Cost per ton = 1398
Profit per ton = 2916
Now forecast annual profit is 28000 x 2916 = 81,648,000
Thats PSG only
Total number of shares outstanding = 1,880,000,000
Profit per share = 0.0434297....
PE Ratio 10 = 43.4c
PE Ratio 16 = 69.5c
Need to add a factor graphite concentrate - I don't have the numbers for that.
This is what I'd expect in 2023 onwards, I also expect capital raising to get the plant up and running which may dilute this.
If anyone can add to this would be appreciated, am I missing any potential profit.
How much are people expecting shares to up by between now and 2023? This is my basic mental math on how I value a company anyway.
As I said earlier Its got potential and worth investing, outstanding shares is whats hampering the valuation, profits appear good if they deliver. People won't buy something that hasn't made money so expect it to be a fraction of the valuation