Based on the above math it is indeed possible to manufacture relic.
However, it aint cheap, and in fact would be reosurce/cost prohibitive to mass produce relics in this fashion. It could be useful to make 5-10 relics allowing you to imbue a particular stat on a "keeper" weapon.
For example:
I've created a Scimitar
40 DI
40 LL
40 ML
40 SL
12 Fire
Valorite
So I get
80 + 80 + 80 + 80 + 80 = 400
400 * 1.2 for valorite = 480
480 + 50 for race/forge bonus = 531
530 * .8 for imbuing penalty = 424 => No Frag
So Lets Bump up Fire to Max and burn 10 pelts
80+80+80+80+100 => 420 * 1.2 => 504 + 50 => 554 *.8 => 443.1 => No Frag
Continuing - Lets bump up SL and ML to 44 and burn some orbs also
80+80+88+88+100=> 436 * 1.2 => 523 + 50 => 573 * .8 => 458 => Frag
Woops - Too High...lets go lower
80+80+84+88+100=> 432 * 1.2 => 518 + 50 => 568 * .8 => 454 => Frag
Trying Lower
80+80+84+84+100=> 428 * 1.2 => 514 + 50 => 564* .8 => 451 => Frag
However, to get this frag I wound up using 10 Boura Pelts, and I think 4 Void Orbs. Plus gems, essances, and residue.
You might try DI-40, SL-40, Resist-13(Pelt), Dispel-42(Slith Tounge) and Luck-100(Muchroom) in valorite as a gargoyle at the queens forge on there.
But to be honest, in my opinion it would be quicker to just hunt monsters and get an item, enhance with valorite and get the frags that way. It would be faster and more economical.
Q