"In 2010 Kodiak transitions from a pure explorer to a growing gold company with near-term production potential"

From Page Four:

Target for Magino is a surface mine of +100 000 ounces/year.

From Page Six:

"Milestone drilling continues to expand potential resource, Phase two drilling underway, program expanded"

Goals Year end 2010: "Bring Milestone to Resource delineation stage: +500, 000 ounces"

From Page Sixteen:

Milestone: Target +/- 1gpt gold deposit, +1M ounces

From Page Twenty-Six:

Magino has been put at the top of the Project Pipeline, along with WLGZ, Golden Mile, and Lucky Strike.

From Page Twenty-Seven:

All 2010 Objectives now either accomplished or underway. Underway: Expand Milestone and HEM survey at MP.

Those are the highlights - worth a look through when you have time.

What jumped out were the numbers Kodiak put on Magino for production - +100 000 ounces/year, and on Milestone - +500 000 ounces delineated this year, and over 1 Million after that.

My sense is the Golden Mile is not being shelved. At the very least, the high grade gold there can be mined easily from surface and milled elsewhere. Also, I don't get the sense that Milestone is now going to be an after thought to Magino. I think Kodiak is counting on all our ounces to grow and, hopefully, boost the value of the company before more funding is needed.