I've been thinking along the same lines, buying and selling a 100k shares while KRY is range bound between .14-.17 (CDN on the TSX) which could generate $1000 for every cent change. My problem is the average volume on the TSX for KRY is about 100k the last while. Volume was 157k today.

Your volume on the AMEX is much higher (903.2k today) and would work better. I would guess your commission is lower too, I am paying $9.99 a trade.

I've done this frequently the last 2 years to cover my nut (commissions, interest charges, etc) and netted $10-11k and I can recommend it if the volume is good so you can get in and out the same day. For me this is important as I feel the permit might be granted anytime and with my luck it would happen before I replaced my 100k shares

On the long term I've been using a worse case (post permit) share price of $2.00, and I mean worse case, ie economic and political instability, construction delays, law suits...

I still think 5-6 dollar range is possible long-term once production commences or there is a buyout offer, again this is on the pessimistic side.

My core holding is +- 300k @ $0.92 CDN at present and I would love to get in the +$1.00 range again. I'm very lucky, others are in a much tighter situation.

I am interested to hear other opinions on their 'worse case' post permit share price.