Exit price, page-5

when trying to work out a Market Capitalisation for these small gold explorers i like to work on a percentage of the spot price of the underlying commodity. In the case of GBR we have an inferred resource of about 670k oz and for a price percentage of 5% would be a nice target about 70 million MC . If we move to indicated resource then 10% would be my next target which would bring us to 130 Million MC. As the resource grows or the nature of the resource changes then your price thesis changes also. Whilst the company is trading well below your target MC dollar cost average into your position. You also have to understand that investing in these small companies can take incredible patience with plenty of pain along the way. And you need to have a strict strategy in place. If your going to survive a potentially long hold in a small company.