>>Are you kidding me? Check out their power point presentation from PDAC. Have you even read it?

They communcate "the plan". The plan just hasn't delivered the goods - yet. Full stop. You can't just wave a wand and magically make gold appear in the ground. Get a grip! If you don't like the plan that is clearly communicated by Brian in the latest PDAC presentation then you should sell. Full stop.<<

Yes, I've read it. I've been all through their website- If you remember I posted some major errors not too long ago. I'm not impressed by the latest power point. It would have been impressive a couple years ago, but not now, not after plowing through 10s of millions of dollars. A lot of the slides are starting to look yellow from age (even in a digital format). The new slides that have real information are mostly initial results for projects that aren't far along, even by Kodiak standards- Brenbar, Milestone, Mines Point, West Millenium. Take a look at slide 28- the Project Pipeline. An impressive slide- if this were two years ago. There are two main categories: Initial Work and Advanced Exploration. Of the subcategories, the farthest along are two projects, Golden Mile and Lucky Strike, that are in the "Resource Delineation" stage. In other words, still drilling- and not much farther along than they were quite a while ago. In addition, they have TWENTY other projects in various earlier stages of development. Does the fact that they are spread over more than twenty projects have anything to do with the fact that none of them have moved past the "Advanced Exploration" stage? Does the phrase "lack of focus" come to mind?

When I wrote

"In other words, what is the big picture with this company? What approach are they using, how do they make their decisions, etc.? What are they working towards? Is there a rational plan behind their moves?"

I was mainly referring to this lack of focus, with no explanation as to how each project ranked, what the priorities were, how they made the decisions as to which ones to proceed on- or maybe they haven't been able to decide, and just do a liitle bit on each one- depending on where the dart lands that morning. I went back and looked through the presentation again, and aside from the specific results I just discussed, there wasn't much mention of "the big picture"- unless you are satisfied with generic phrases such as "Build shareholder wealth", "Establish economic viability", "Continue aggressive exploration", "Drilling for new discoveries", "seek undervalued assets", "Identify new veins", "Discover new projects", "opportunity for discovery", "Add value through exploration", "Add new projects", etc. This isn't a plan, it's a phrasebook. Or maybe I missed something that you caught- What is the plan?

And the presentation still mentions drilling under Golden Pond this winter.

As I've said over and over, Kodiak needs to move at least one project forward, past the "exploration stage" (advanced or not). The 43-101 may help, but I'm not making any more bets on it. At this point, more ounces in the ground may not help- there has to be some indication that there will be ounces coming out of the ground, or money coming from some source, before Kodiak's cash reserves disappear.

As to selling, I should have done that long ago. At this point, it's hardly worth it. I'm hoping Kodiak has hit bottom- but then I had thought we had hit bottom at more than a few points along this slide.