Like I clearly said cranecrane, it is not for everyone. There are two main groups when you observe the reactions to leverage proposals. One group cannot look one inch beyond the risk (or the monthly cost in rock-pile's case), and the other group is excited about the monumental reward. It depends on your financial situation....i.e. a young person can't leverage $100K because they don't have the collateral or won't meet the bank's income test. In my scenario, substantial home equity exists and my cashflow can support an extra payment ten times $300/mo, until the day I die.
My scenario described a measily $300/mo payment, tax deductible. If your cashflow cannot support another $300/mo for the long term then definately do not do it. I made this clear.
Some want to pick on my leverage proposal by attcking whether the monthly payment will be $300 or $330 per month all the while the elephant in the room is the potential to make a very cool $300,000 profit in a very short period of time.
Consensus here is a $4.95 buyout and occuring within weeks. The pounds in the ground are worth much more than is reflected in the SP, I think that is irrefutable, and those pounds are proven to be there and to date proven to be economically minable. Don't ignore the facts and don't ignore the leverage math. Do your DD.