Thank you, explorationguy, for your honest assessment. The more I learn about the B-G area, the more it reminds me of the Michipicoten-Wawa area where I lived for many years. Lots of gold mining, still lots of gold, but no earth shattering deposits (well, unless you look at Hemlo, but that's a different zone).

When I lived there, I knew very well the lead geologist for River Gold Mines (now a part of Wesdome). I was thinking about investing in it, and was asking him about its future prospects. He told me it would never be huge in terms of ounces produced, but that it would go happily along producing for many, many years, because there was so much gold in the area. He said it was relatively easy to prove up more resources to replace what was mined every year.

Looking today, I see that their main (Eagle River) mine has produced about 3/4 of a million ounces. It actually has only 73 000 ounces P & P, and 16 000 ounces M & I, with an average grade of between 9 - 10 g/t. Every year, they replace what was mined through ongoing exploration and drilling, and it's likely they can continue with this business plan for many more years.

Their vision may sound familiar to those following KXL: Its strategy is one of regional development around existing wholly-owned infrastructure in politically stable, historically proven mining regions. Its vision is to provide investors with exposure to a growing, unhedged gold production profile in a rising gold market. (from their website).

As far as gold production goes for Wesdome, it has grown from 53 000 annual ounces in 2006 to 90 000 ounces in 2008. Not bad growth, as far as that goes. Their market cap. fluctuates quite a bit in this market, but moves between $100 million and $400 million (roughly - I haven't had time to dig into the precise numbers). Their Wawa mill is located about 17km from the Eagle River Mine.

While I realize the geology is not the same as B-G, the similarities with what we might be looking at struck me. Besides multiple gold deposits in a regional play, I was noticing that the profitability of the Eagle Mine comes from zones of higher grade ore which make mining the lower grade ore feasible. It's a long and narrow deposit, like ours.

As I have previously written, I'm not a geologist. However, I believe I do have a better sense now of what we MAY be looking at in B-G, based on the assessment of explorationguy and based on what I've seen develop to date. I'm not sure if that's a good thing or a bad thing in terms of this investment, but I suspect we won't see KXL rocket upwards based on our B-G package alone.

Oh, how I would LOVE to be proved wrong!