this stock in my view needs to trade between 2.00 and 2.50 just to get back to "normal." despite the runup from 1.00 to here in seven days flat, we are still looking at a stock that is too cheap.

if you figure cash at 40 cents a share, the enterprise value is 1.60 minus 40 or 1.20 a share.

that still harkens back to the early discovery days of fall 07 in terms of price.

see chart.

http://stockcharts.com/h-sc/ui?s=KXL...

and now we have multiple kilometers of showings at golden mile, some of which have not been really reported to the public yet, plus deeper drilling that takes the gold down to at least 400 meters at golden mile.

the kicker is the gold bearing banded iron formations at solomon's pillars and maki. if those are any good at all, and especially since they appear to start at the surface, implying an open pit possiblity, I don't see how that could be priced into the stock yet.

so i am long and getting longer, especially on days like today when you have a selloff that coincides with the end of a six day runup plus a 15=20 dollar drop in gold.

Michael