I believe that KXL management strategy is to do all the work associated with the final tally of the number of ounces we have in the ground,without giving away the farm by a "shoot from the hip" early guessing game..That way the price of gold has a chance to rise over the time this strategy takes...after all..a ka-zillion ounzes of gold is worth much more at $2300.00 than it is at $960.00...where it is this morning..making KXL closer to the Vegas Target price than it is today..

Go Team..!!!

Great strategy..I'll wait for news..

Portee

Gold rallies to record in multiple currencies

LONDON, Feb 17 (Reuters) - Gold hit record highs when priced in euros, sterling, Canadian dollars and South African rand on Tuesday as buyers bought into the metal as a safe store of value.

Gold priced in euros <XAUEUR=R> hit a record high of 761.73 euros, while sterling-priced gold <XAUGBP=> rose to a peak of 679.48 pounds.

Priced in the South African rand <XAUZAR=R>, gold rose to an all-time high of 9,824.10 rand, while Canadian dollar-denominated bullion <XAUCAD=R> climbed to C$1,207.26.

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Two global gold-price forecasters sense a $2 300/oz long-term gold price.

Seasoned forecaster Dundee Wealth Inc chief economist Martin Murenbeeld and US Global Investors precious-metal-fund comanager Ralph Aldis both cite the exact same long-term $2 300/oz figure, Murenbeeld explaining that the $850/oz gold-price peak of January 2008 translates into a $2 300/oz peak in today's money.

"My feeling is that, over the long cycle that we're in, gold will take out that $2 300/oz, but that's not tomorrow, I am speaking down the road," says Murenbeeld.

Aldis says: "We'll see, but I think, in the longer term, you're talking gold as a fairly safe investment, and it wouldn't surprise me to see gold go back, on a inflation-adjusted basis, at $2 300/oz."

For 2009, Murenbeeld's majority scenario is that the gold price will be at a level above $1 100/oz by year-end.

"We're in a gold uptrend, I am absolutely convinced of that, but the price rise does not necessarily happen as quickly as investors might hope or want," he cautions.