KXL has done the GM drilling at sufficient intervals and depths to define an initial 43-101. Explorationguy did a great job on an initial estimate for Hercules (400 k oz +). I added some figures on Milestone (300 k oz from drilling and 1.8 million oz in prospect on proven strike) and when we have more results for West Geraldton we can do that one too.

Kinghorn wrote that the GM is not suitable for open pit. That has been the understanding from day one. The grades are far above open pit grades (10-25g/t*m vs. open-pit typical 0.2-2.5 g/t) and it has never been envisioned that this would be anything other than a hard rock mine. There is a considerable amount of high grade ore near the surface and I look forward to seeing some of that come out of the ground through the upcoming ramp. Milestone is an open pit resource.

Given more than one resource in the area, one mill would likely take ore from a number of mines with resources in the 50,000 - 2.5 million ounce range, in the fashion that miners such as Kinross do.

I too would love an 1800g/t intercept like the Sangold one you mentioned. The only way KXL will find it is to keep exploring. The exploration pipeline means that a geologist comes up with a researched idea (scouring historical results and modelling structures), typically in the Winter when things are slow, this goes into the drill program for the Spring-Fall, the results are assessed, and if warranted a larger drill program is place for the following year. Surface rights and permitting issues have to be solved along the way, and that takes time. Often when initial showings are good, additional land has to be quietly assembled. So it's good that there are a number of the medium-level projects in the pipeline - Milestone, West Geraldton, Brenbar, Wild Goose, Sleeping Giant, etc. - and dozens more projects yet to be explored.

I don't know how I would do it any different from the way they're doing it. Some posters say "concentrate on the GM, forget the rest" and others say"enough on the GM, go after the others". They are doing both - define the ounces at the GM, take the middle tier plays to the next level, and keep going after the dozens of solid prospects in the huge land package.

The frustration on this board is justified - in spite of my sanguine demeanor, I am supremely frustrated too - my exterior calmness is probably because I'm an engineer. I have a reputation for staying calm, and it saved my life a few times. I know that the whole team shares the sense of pressure, and in turn their efforts appear to me to be intense.

However, KXL has gold everywhere they've drilled, the district is huge and rich enough that millions of ounces have come out of the BG Gold Camp. Hemlo spent a lot longer finding their ore bodies than the time KXL has put in. That's just a fact. A number of shorter-term traders looking for a fast cashout from a price spike will go overboard and there are plenty of other plays more suitable to them. It's a solid long-term prospect and that's probably why the funds are returning.