$20 is coming more into play as they drill deeper. It always comes down to resource valuation for explorers. Right now $10 is looking very promising. Eagle 1 was already worth $3 if it was mined, so if you triple the deposit, voila, you have $9.

I think it is too early to consider an exit strategy. Until we see how big this deposit is, I'm holding. I don't see the price going down in the near term. My worst case scenario is that it gets mired somewhere above $5 and below $8. I say worst, because I want at least $10. And if the drills keep hitting, who knows?

One thing everyone needs to be leery of is the economy. I have been researching the future since 1989, and I have a pretty good idea what is going to happen. The next few years look pretty bleak (forget about global growth). The US dollar is going to be devalued sometime in the next 12-24 months. I don't think the US economy, nor the global economy, will respond well to that event. While gold and silver are heading higher, I think base metals are going to collapse (back to their recent lows).

I don't think everyone realizes the underlying weakness of the global economy (the export markets have nearly collapsed and energy prices are on the verge of heading much higher). Right now the only thing keeping the global economy growing is excess borrowing and stimulus. The US economy is insolvent and trying to borrow $2 trillion this year from foreigners. That money is not available, so they will be forced to monetize it (print it). The US Govt cannot reflate the economy, and thus they are going to run out of time before the dollar collapses. That event will likely spell the end to base metals for some time, as growth grinds to a halt.

Sorry for the bad news, but perhaps helpful for your exit strategy. P.S. I own 30+ gold and silver mining stocks. After I sell Noront, that total will increase. Load up. Gold is going to $2000+ and silver to $50+. 2010 looks like the year the train leaves the station for PM stocks.

Newager