Major Australian Gold Deposit, page-108

I rarely invest all or nothing.  My typical investment style is to get to a free-carried state and ride the rest into the future.  Unfortunately my entry point for AAJ hasn't allowed that just yet so my first goal is to get to a free-carried state.  Since my average buy in is in the mid 1s there's a fair way to run before I'd consider selling.  As with all my speculative investments I am willing to lose the whole investment if it goes pear-shaped.  I only invest in these types of stocks what I am prepared to lose.  So to summarise an answer there is no black and white answer as to what I am prepared to sell out at, it all depends on the progress of the company which I will always regularly re-evaluate.