Wave: re relative tightness of the float on kxl.
You were saying "By my estimation 80 % of the shares are held by people who will not sell."

I am not sure how you get to that number. But you and I are headed in the same direction in our thoughts -- a more tightly held stock than even a few months ago. Please elaborate on your view after reading mine.

The following is what I know:

On page 13 of the Oct. 3 slide show, the company states:
"Management directors and business partenrs control over 50 percent of the company.

That leaves 44 mm shares floating. Let's call it 43 million, since they are saying "over 50 percent" and since it makes the rest of my numbers easier to think about.

We have Reuters telling us that institutions own 13.4 mm shares of KXL as of now. That is pretty fresh information, and is up substantially, as I have just reported in a previous post.

Let us round that institutional holding down to 13 million shares, just to keep it even.

That leaves ~ 20 million shares out of 88 million outstanding. Admittedly, that institutional holding could plummet if there is bad news. But the trend on it is up strongly.

So I like my chances here. A shrinking float on a high-grade gold exploration company that is cashed up, on which I have averaged down my price so that I am roughly at break-even, on a huge gold camp property that is ideally located, where they are uncovering new strike every day, and where management now states that they have eight non-disclosure agreements in hand.

And where the timing of all this could very conceivably coincide with a fresh bull-market run on gold.

Michael