grizfish... you're kidding me right????????

how long have you been in this stock????

go back and review all the presentations over the past year... see how many projects they were working. Now... count how many projects they plan to report on this year. That would be 1.... the Golden Mile. How many are they drilling this year... that would be 1 again. What is their exploration budget this year....?? About 1/3 of last year.

Maybe I'm alone on this one but that is a very dramatic change in strategy. Now I'm not saying I don't support the strategy... I think it is the right thing to do... but as an investor we've gone from multi-project, with multi-million oz potential to... smaller scale, smaller budget and just the facts. Put another way... Chornobay is out... Harrington is in. Time will tell if this moves the company forward in a more meaningful way.

Some may also say it is the economic reality we are in... others will say it is because they haven't hit the big grades... I'd say both.

But you've got to do a reality check. The prospects for KXL have changed and as an "investor" you have to readajust your timelines. For those of us who have been here since Caribou... we've seen this story before.

Personally, I think the Geralton/Beardmore geology fundamentals and results to date certainly show potential for a large producing gold region. The question is will they be able to prove up a multi-million oz resource on GM with their remaining budget and what is a realistic timeframe for this to be done.

There are lots of questions and a budget that once seemed more than enough has now been depleted without delivery the results hoped to justify the expense. Such is exploration.... but buring through cash last year like KXL did in a year where cash was king... really hurts and it will be interesting to see how this district will play out.

Anyways... I'm still long on this play... just frustrated with the current realities as I see them.

GLTA

m.z.