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Message: drilling program

drilling program

posted on Jul 08, 2009 12:21AM

The announced 15,000 meter drilling program has been criticized by some as lacking focus but the biggest problem I see is the lack of detail in the press release itself. A recommended drilling program with associated costs from independent mining professionals is contained in the Technical Report released on April 20. That report suggested an 11,000 meter program followed by a resource estimate. I doubt Kodiak would ignore the specific recommendations in that report although they haven't stated exactly what their intentions are. I think they will carry out the detailed drilling on the Golden Mile as well as carry out some regional work. Meanwhile we are waiting for results and watching the share price drop slowly as it typically does in this stage of the game. One of the more compelling pieces of evidence that we will develop into a new, major gold camp is the high "hit ratio" of the drilling program to date. The current share price looks very good for entry or adding to an existing float. So , are we following the yellow brick road or re-enacting the Bataan death march? Well I bought some more shares yesterday and parked them in the TFSA.

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