I am sure @mailpal know MIN has multiple business segments...

@mailpal
your calculation is correct.

MIN together with other businesses doesn't have a high profit margin like LTR. Therefore it was rumoured couple of months ago that MIN was planning to demerge its lithium business but they denied it.

What Elon Musk said was true. He said that the lithium miners would have the similar profit margin with software companies. And we can see that it is true that PLS has just piled up billions of cash in just about a year.

I am sure @mailpal know MIN has multiple business segments generating revenue from other industry sectors; iron ore and mining services. MIN's profit margin comes down because of them. @mailpal gave you the numbers and facts. MIN's turnover is $3.4 and it's quite good. But it's obvious that the profit margin of their iron ore and mining services businesses are not that good because their net profit is only $340m.

MIN is not selling much lithium like PLS either. Their fully working resource is Mt Marion and it's 50-50 JV with Ganfeng. Wodgina JV with Albemarle is not working in full capacity yet.

Also, you said "and plus.... who will wait till SP is $26... definitely not me"

I know @mailpal is waiting since he bought (a lot of) LTR shares at 2.1c in April 2019, four years ago, because he is my friend .

He is waiting despite he made 130 bagger like many of us here.

He doesn't want to sell because he wants to go to production and get dividends. That's why he loves making those calculations. All he interested in is dividends.