Excellent question rico - why is the KXL stock price low when others have done better - and what does management think about that. I did bring a chart of KXL vs. SGX into their offices a few weeks to ask similar (actually I dropped by to say merry xmas, wish them well and does anyone have a clue why SGX is perpetually exactly 1/10th of KXL - I had just put the same question to a raft of senior brokers). They are as frustrated as we are. They have their own $$ in too. The CFO Tony Wood has done a lot of research on the stock and who holds it - savvy guy. They have no definitive answer for either question. However, the general impression I get is that 1) we went from a company that seemed to have Red Lake to a company that has excellent prospects and results, money in the bank, and at the same time we're a (major) explorer, 2) the markets are going ?? until the new story develops after change in management, Maki, methods - the realization has to build that KXL is a really solid explorer, very professional, great land, has $$, and is still turning up more gold. The funds buying in will help with that, 3) the general markets whacked everyone but they whacked us at our most vulnerable moment. If you have better theories, let us know. In any case I'm with the others on this board - 0.475 is a bargain and I have acted on that.

It's a very good thing that the funds have been buying, as well as people like Brian Christie of National. Solidifies the share base.

As an aside - I am puzzled when I put buy orders in and they're not met on the general TSE.V market - they often tend to get filled from Pure, Instinet etc. If anyone has a clue what that's all about, please write in.

Tax loss selling ends tomorrow, then a week of low volume (could go anywhere), then maybe a bounce (I hope so). The massive oversubscription of the PP and a PP with no warrants tells me something, something good. Don't know if in the reports we'll see that insiders have flipped out of old shares to buy the new, but so far no insiders of not have ever sold. I'm cautiously saying I think it will be a great year and have picked up shares. I think there will be a good bit of new out in the next two months as well.

And yes, we have an amazing board here - I don't think any of the other boards have the brains or activity that we do.

On my xmas wish list:

1) KXL stock price over $1, even better over $2

2) An understanding of what happens on the alternative trading markets operating in Canada beside the Venture exchange: Pure, ATX, Omega, Instinet Chi-X, Bloomberg, Liquidnet, TriAct, Blockbook. I asked top-level brokers and only their trading desks see what's there.

3) An understanding of the perpetual mystery of the universe - i.e. why SGX is always 1/10th of KXL, who, why, how and how they make money at it.

4) An excellent year for all on our board here!

Merry xmas.