FBR Chart, page-3315

No, I didn't post a excel share price calc tool.

Why only 35 houses per annum?
FBR are aiming at 2 to 3 days to build all the walls of each 3 BR house.
35 houses would mean the HX is only active for 70 to 100 days per year.
My thoughts are that target customer of the HX will be large scale sub divisions, not single infill blocks.
Therefore travel distance between building sites would be perhaps 15 to 30 meters as it works its way up a street.
(BTW: this poses a problem for the HX to be a EV with regenerative braking).
My pick is that 70 houses per machine per year would be the target quantity, and in some markets/locations get to 100 houses per machine per year.

I see the SP drifting a bit till we get some announcements to firmly indicate that the HX will definitely be finished testing this CY. I would like to think it is possible to have a 50 cent SP before Xmas 2018....if HX is completed, testing complete and first house built.
But that isn't based on any analysis. Simply a feeling based on watching for a long time and me trying not to get too carried away.
I do not see a SP a lot higher than 50cents without sales and revenue.