a different point of view, page-8

there are too many factors involved to answer that question.
Valuation wise it should be a lot higher, and I suspect that it will be if progress is made as is planned by the company. But if the international economies cause havoc before then, it is anyones guess.
If a takeover bid lobs before then, it will be a question as to what the acquirer thinks that they can get steal the assets for (because they will not be developed by then)!