Kodiak has run through half of the money they raised when the sp was almost ten times what it is now without finding the motherlode or demonstrating an economical deposit. Yes, there's gold everywhere, but I thought by now they would have zeroed in on a specific area. Instead, they're still "testing" new deposits and looking for other areas to drill. I had hoped that the appointment of Maher, who is "an economic geologist with over 30 years of experience in mineral exploration, mine development, underground mine production and the financial analysis of acquisition opportunities" would have meant they would be more focused on moving toward proving up a resource and adding value to the company rather than just prospecting. I hope they find something soon- They have maybe another year before they run out of money, and raising cash at the present or lower sp is going to mean a lot of dilution.

From the NR:

"The company has initiated a 15,000 metre diamond drilling program that includes additional drilling at Hercules and drill testing regional targets on its extensive Beardmore-Geraldton land package. Results will be released as assays are received. Planning is underway at the West Millennium uranium project in the Athabasca basin for a second phase of diamond drilling as a follow-up to the successful 2009 winter drilling program. Field work is also planned for the Company’s newly acquired Mines Point gold project in northern Manitoba."