FBR General Discussion, page-3577

$350 mill to fund 100 HX (based on current 3.5 mill per unit) - this would also deliver a bulk cash injection covering operational costs.

Total buildings per year 25 k - 30 k homes - only a fraction of current market (Operating 250-300 days per year each unit with days off and, maintenance) -

$1000 AUD per house earnings (estimate FBR share after currency conversion $ 700 USD in a JV / royalty / IP earnings per house approx.) -

At a 20 -25 PE that would put FBR at mid to high teens 0.15 - 0.18. with Zero factored in for further growth in additional Markets

Very back of envelope and rounded numbers but not too unreasonable to either get that level of funding in the US or maintain that level of construction demand year on year.