TODAY'S DISCOVERY, TOMORROW'S FUTURE

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Message: PDAC Presentation and Reception

PDAC Presentation and Reception

posted on Mar 10, 2010 08:12AM

I have attended about 4 of those presentations over past couple of years. This was the best attended by far.

Below is my take in point form. I am going from memory due to fact that I left my notes at my son's place and won't be able to retrieve them until later. My apologies in advance for typos etc. I am in bit of a rush to get ready for the last morning of the show and no time for the luxury of editing or proofreading.

- The 2 Richardsons own 15% of shares between them.

- Over past several of years all explorers have added combined approx 4 million oz which along with the 4 million ozs from historic production makes the area a significant gold camp.

- 43-101 for Hercules will be completed by end of month. All of the technical portion is complete now the mathmatics is being completed to determine total ozs.

- Milestone to date 4km of strike (??)

- Not enough ice to drill Golden Pond this winter. Will probably go with a barge although 2 holes can be drilled this year without any special equipment. I assume this to mean angle drilling from shore.

- West Geralton-Portage Shear will be drilled. This property is adjacent to Premier's property.

- Mines Point property (Manitoba) hopefully will have a VTEM survey completed

- West Millineium not at liberty to discuss results rigth now but very pleased so far with results. On 4th hole of 6 hole program (booth conversation not presentation). However more than likely drill program will be extended past the 6 holes (which totals 6000metres). Results expected "very shortly".

General Tidbits

- Want to grow company both by drill bit and by acquiring undervalued ozs.

- End of 2010 will show Company to be a totally different company.

- Hercules and Milestone would have 2 totally different set ups for their plants. Hercules would foscus on processing small amounts of high grade for maxium recovery while Milestone would be set up to process massive amounts of low grade material.

- Majors still quite interested in what KXL is doing. One in particular wants to renew and continue Confidentially agreement.

- Hold period for shares in last financing from Dec ends on April 18th. Flow thru definitely impacted on share price.

I asked the following questions...

1. How many metres are planned for B/G this year and how would they be allocated between Hercules and Milestone?

Ans. 40,000 metres and most towards milestone. Brian did say actual numbers but background noise was picking up and I did not catch all of it but the actual percentages can change as things unfold. (paraphasing here but that is gest of it).

2.What is current cost per metre all costs in?

Ans $75 to $85 per metre.

Again my apologies for the format and disorganised manner but going from memory and my mind is just addled from being at show from the start. KXL is only one of many companies I am trying to get a better handle on.

cheers

killick

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