I think that is a great synopsis. $5 is not impossible at $20 silver, but I'm thinking around the $3 range would make me happy. Not too fast though, as I'm still selfishly accumulating :)

I think you are right that when the silver prices starts running it'll be less to do with fundamentals, and more to do with the macro picture. Heck, we're at $15 silver today already, so it's quite healthy.

The earnings today were good, and their costs are going down while their grades/concentration are increasing, all good developments. This is a very healthy investment at these levels I think.

Good luck to all.