Brilliant, thanks for your thoughts. I agree with your comments...

Brilliant, thanks for your thoughts. I agree with your comments regarding valuation being very hard to pull out at this point but as you also say, there are far too many variables in the wind to accurately model any financials on which to base a NPAT multiple and project those out with any confidence.

Far less viable / well progressed companies have been rewarded with a far greater price to sales multiple based on some stupidly heroic assumptions so I’m happy to risk some capital here but with my usual risk mitigation strategies to preserve that capital.