I am going to take my own wild-a guess on what Hercules-Golden Mile area is worth from the drilling they have done that has been reported, and allowing for some Beardmore windage on a few strong deeper holes in the next month or two.

A third or a half a share of Goldcorp, just for the Hercules-Golden Mile area. (That is $11.50-$17.25 worth of stock as of tonight.)

And the way it could work, if VP exporation Brian Maher gets the kind of deal he alluded to in Toronto last weekend according to attendees, is the same general way that G.TO bought Eleonore from Virginia Gold.

The eight who have signed CAs with KXL plus the KXL management know a lot more about that property than any of the others, and they know enough to do some calcs after just a few more of those deeper 600 meter holes hitting some of that pinkish purple high grade on that one slide.

If KXL and whoever was the big-box buyer followed the Virginia model, here is ROUGHLY what would happen.

You'd turn in your KXL shares, which is called tendering them.

A month or so later you would receive (and this is arbitrary) one third of a share of New KXL for each old share, so that the clock would be rolled back on dilution. Instead of 88 mm there would 29 million basic shares, plus Goldcorp would kick in $30 million in cash to top off the treasury and would get 10 million shares, so that would bump up the total to 39 million outstanding. You'd go into the spring drill season with let's say $60 million in cash, you'd have a $17 bucks of blue chip to prove to your wife you are a genius, and you'd still have a ride on Maki et al.

New KXL would have a new symbol, probably, and would own everything it owned before except Golden Mile, and have the same management and geos and great hard working geo-techs as before.

I am not saying Goldcorp is a potential buyer, although frankly I cannot imagine Goldcorp not being one of the eight.

I am not saying I know what the early line is on resource estimates.

I am saying that this is the approximate way that value could be assigned to the deal following the guidelines that Maher told folks he liked as a model for a deal.

Michael