http://www.kodiakexp.com/_resources/...

Our take on the results

We are encouraged by the results from both the Hercules
project and the regional properties. It would appear that about
10% of the holes drilled at the Golden Mile are yielding
significant intersections. This is in line with previously
released results, and not unlike other high-grade gold
systems elsewhere in the Archean. As more drilling is
completed it appears that additional high-grade shoots are
taking shape at the Golden Mile. We still believe that there is
potentially a coarse gold issue and that the grades of the drill
holes could be understated. With over $30 million in cash, the
company is well funded to continue exploring. We maintain
our Outperform rating and $1.75 target price.