Fabricate question

[ArtenDaelus]

So i was thinking about how fabricate works,and i wanted to ask if i buy 5 Mithril chainmails that weight 10 pounds each i could fabricate them into a mithril full plate and cut the cost of buying a mithril full plate by almost 4k gold.

[Deophaun]

Material Component
The original material, which costs the same amount as the raw materials required to craft the item to be created.

Pay one-third of the item’s price for the cost of raw materials.
You should be able to make a set of mithril fullplate for 3,500 gp, or 7,000 gp less than the list price.