Ann: Quarterly Activities Report and Appendix 4C, page-4

I am really interested to know if anyone has crunched the numbers on this business and its long term prospects compared to its current valuation. It has an MC of some 650mil, generates revenue of about $4mil Aus (most likely will double to say 8m - 10mil this CY), and burns through about 16 - 20mil a year... what type of growth are people reasonably expecting in order for this to be profitable and justify its MC? Even if they doubled their revenue year on year they would still most likely make a loss 2 years down the track.