Ahh my fellow KXLers,
I too am a little perplexed and possibly even mad.
When I bought KXL in Jan '08, they had the Discovery of the Year, $50 million in the bank and a 3$ share price.
I liked the company so much that I averaged down during the recent market crash. Am I trying to catch a falling knife?!? Hope not.
I repeatedly said things like "Drill Deeper" and "Drill the Snot out of Golden Mile".
So here we sit today. Share price is way south of 3$. Cash in the bank is way south of $50 million. And the Discovery of the Year has not had the SHIT drilled out of it! But at least we now have more land to scratch the surface of!
I'm not selling for a huge loss - Yet! But if the next NR does not discuss 1000 metre plus holes in the Golden Mile, I may have to change my mind. Better to take a piddly dividend from Goldcorp than lose money every day.
So here are the things I know:
- I am not averaging down on KXL anymore - I have enough KXL.
- Gold Eagle found some gold underneath a small land package that featured Archean greenstone. They drilled a ton of deep holes and found 13 million ozs.
- I averaged down on TriStar and made 45%.
Here is what I don't know - will KXL pull a Bow Valley on me? Hope Not.
Be strong KXLers (and buy some Pepto).
KG
