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Just a couple of notes and thoughts,

Coach, thanks for your reply. Sounds like there is yet more good news to come. Hope you can pick up more shares soon.

Gold Eagle was taken over for 1.5 billion on the basis of ~200 drill holes. We now have Kodiak reporting ~100, with 190 holes completed as per the latest presentation on their site (with results of the next 90 or so presumably in the pipeline). Kodiak’s results are certainly comparable to those of Gold Eagle, with results spread over a much larger area. This should put a floor of at least $1.5 billion ($17/share) on any takeover. This doesn’t even consider the location of Kodiak’s claims in a historic mining district with infrastructure, transportation, work force, etc.

The amount of info in this release is staggering. At some point I give up trying to interpret all of it. Once a certain amount of info has been processed, I know that KXL shares are worth much more than the price they are trading at. As a long term investor, and not a trader, that’s all I need to know for now. I’ll only feel the need to re-evaluate once I feel that the size of the entire discovery has been pretty well determined and the share price reaches a level commensurate with the value of the claim. I think that is a long ways off.

Kodiak emphasizes that they are an exploration company, not a mining company. At some point they either sell off areas of the claim that have been well characterized or partner with a company that can do the mining. In either case I expect initial payments that may be well in excess of the present market cap. Let’s see the market ignore that.

Speaking of the market, I mentioned before that I’m long term. Because of that, the short term movements of the stock or the shenanigans that are being played do not affect me (although I couldn’t resist a bit more under $2.00). I think the kind of manipulation that goes on with KXL and other stocks is repugnant. However, the final determination of the value of KXL will be made by management and whoever buys them out or partners with them. And I have full faith that KXL management will ensure that the full value of this discovery is realized.

Is anyone else already looking forward to the next NR?