With due respect that kind of calculation is useless for PLS and for any company in a rapidly changing environment, especially in its early days. It is more suitable for a supermarket, bank, or fast food outlet, where there is a long history and stable environment.
For new industries the SP often reflects their potential. Most companies make losses in their first few years (or decade - see Amazon, Tesla), but people don't value them at zero because that is what your calculation would show.
PLS is a 40yr mine We have no idea where the Li price will be in 6 months, let alone 6 years. PLS has potential income from several yet untapped resources - Posco, CXL, P1000. How do we put a value on that?
On the other hand, other business are investing big money and building projects for the next decades. Battery makers, Car makers, etc. We can see their investments and their projections about what they expect the future holds. They have much more information than we do, plus they are putting money where their mouth is, so as a rule they should be more accurate than anybody else. They don't all get it right - the tricky thing is recognising which ones do. Toyota seems to be one that misread the future in a big way and is now trying to get back on course.
And of course there are those who lie. (Tobacco, sugar, asbestos ... ). The ones more likely to lie the most are those that have the most to lose - and clearly that is those who want to keep the status quo and are fearful of any change that impacts them. Plus these people often use unsavoury practices to spread false information - read these books: Kochland and The World For Sale for lots of examples.
So, now you decide - who do you trust the most? Where are you going to get the numbers for your calcs?
Be wary of "lies, lies and damned statistics" - I see many people, you included, who misinterpret data. It is not easy to get right. Some people point at individual weather events and say "look, there is no climate change". Similarly some people point to some changes in SP, Li price, sales of Fords, or whatever and draw long conclusions. No one has a long history of stable dividends for Li, so one cannot extrapolate from the little data we have. That is why your calcs are not relevant.
Cheers.
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