General Discussion, page-242

I like the discussion about the marketcap. If I trust the Lassonde Curve for explorers we should reach the max market cap from the exploration phase after the various JORC are out. Surely DRE has a potential advantage due to HAS next door who's already developing the infrastructure or fast JV's on other projects. I understand normal company valuations which all derive from profits which are being forecasted. But what drives the valuation (marketcap in this case) of an explorer such as DRE who has no revenue yet, is it purely the JORC and then compared to other firms or pruely demand and interest in DRE shares? I guess from a JORC one can based on current market prices make an revenue estimate, would that be the valuation driver for DRE?
I'm asking all these question as I keep reading here marketcaps estimate from 300m to 2bn, quite a spread And I wonder how big can I really dream with all my shars

cheers