People need to remember not to lose focus here. KXL has not scaled back exploration. They have always been very smart with their money. Even with 'credit crisis' it has been full steam ahead with one goal in mind. We are reminded of this goalin a post by bearlybullish some 7 months ago referring to questions to Brian Maher asked during last years Vancouver show...

"Someone was questioning him on why the company was not more focused on defining a resource and Brians answer was that we need to keep in mind that a lot of their peers as well as some of the bigger players (his words) are circling this play and it is really important that they find out as fast as they can just how much they have."

and...

"Even if it is a back of the envelope guestimate ... because those interested parties are also figuring on the backs of their envelopes.

He referred to the example of Virginia mines selling to Goldcorp without a defined deposit.

I got the impression that they expect the offers to start coming even this year."

Recent market conditions may have bought KXL some more time but that's about it (which in the end will actually be a good thing for KXLers). The focus remains the same.

Don't lose focus. KXL hasn't. You also should not.

The gold is still there.

red911

Van. Presentation