Well, I have said this after consulting with 5 real estate...

Well, I have said this after consulting with 5 real estate agents in the area and the prices quoted by me are based on today's reality not a myth. I am quoting post GFC prices P 87. I compared it with Mandur ah as that is the closest beach town. It requires a lot of development and time to reach to that point. That is why they are looking for a partner which may be the reason for recent volume.

P87, do you drive to the other side of the freeway? Way north, there is Yanchep. Similar distance from Perth.... From Jindalee to Yanchep, almost 4 new beach suburbs have got developed in no time. More are on the way. The property prices sky rocketed in last few years and the ever spreading north is still growing.... the freeway ends close to burns beach that is where I am building. 500k for a reasonable size block without even views. The rest of suburbs are further without any freeways and even decent shopping malls are 20 odd minutes drive. Train station ends in Clarkson now getting expanded to Butler but the property prices still high. I can understand south is cheap but the difference is getting thin with major developments. Well, let's leave it here. I have bought few thinking 2015-2016 could be good for PBD. Everything has its risks but it looks promising keeping in mind low market cap.
Market cap of 130m at 2c seems attractive as they have invested almost 80m.

Anyway, the average buying has been in large orders not like small HC punters. The stock is least hyped so let's keep it in that way. In my opinion, this has potential to make few coins.

All the best