I'm currently enrolled for a master's degree in pure mathematics. My supervisor agrees with me that I discovered a new and noteworthy branch of mathematics (and rigorously proved the results).
We both also agree that discovering a new branch of mathematics is not a trivial task. I asked him about the possibility of upgrading my master's thesis to a PhD thesis. He says it is theoretically possible to upgrade a Master's to a PhD at our university, but he reckons my thesis does not have enough sustenance for the upgrade. (At our university there is an option to do a thesis-only masters and a thesis-only PhD, without formal coursework.)
He reckons that I would only be able to publish one paper with my current thesis. He also says that he would normally expect at least three publications to come from a PhD thesis in pure mathematics, but because my discovery required a greater than normal amount of creativity, he reckons an upgrade would still be possible if two publications came from my thesis.
Is this reasonable? Is discovering a new and noteworthy branch of Mathematics not necessarily worth a PhD (regardless of the quantity of papers that get published from it)?