$20 is probably unrealistic but.........I would think a buy-out at $7 is more likely.....and that could happen as early as next spring. By then you would have upgraded resources at both Clearwater and Eau Claire as well as the first pass evaluation of a deposit shaping up at Eleonore South - which I believe they have.
The calculation i read earlier referring to yards of sand at 1 oz/ton is a bit wacky. The grades at Eleonore South are not likely to approach that range. I would be quite happy with overall grades of 7-8 grams/tonne over widths of 10-15 meters along a strike of 1 kilometer to depths of 500 meters. That in itself would make a nice size orebody available to truck to GoldCorp's mill. Of course we are getting ahead of ourselves here a bit since the first drill holes haven't been released yet! lol
Never-the-less, they do have a very large gold-in-soil imprint (suggested to be 10 kilometers long) and already have some impressive numbers from trenching on one of the discovered showings (8 meters of 5.3 g/t Au and 3 meters of 10.9 g/t Au). If you look at the presentations on the Eastmain site you will note that this trenching is at the edge of a 2.5 kilometer long highly anomalous Au/As soil anomaly that continues onto the ground joint-ventured by SOI/GZZ. It is this section of the overall 10 km long anomaly that several trenches have been put down and is surely the focus of their current drill program. The potential for multiple stacked and parallel zones is high. The JT showing appears to be along the same stratigraphic horizon that the Eleonore deposit lies on. Not sure if Eastmain has even released the results from assaying the 6,500 meters of trenching yet, so I suspect they may have multiple targets to drill along this area. The rocks are striking east-west which bodes well for their neighbour (SOI/GZZ).
If the recent share price runup is related to visual inspection of drill core or buying created from rumours leaked out by exploration personnel and/or drillers, then I would think news is forthcoming very very soon.