TODAY'S DISCOVERY, TOMORROW'S FUTURE

Creating shareholder wealth by advancing gold projects through the exploration and mine development cycle.

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Message: M D &A 3rd qtr

Just scanned throught the Sedar document.

Exploration:

Milestone - ongoing drilling

West Geraldtion - detailed geophysics to followup GK10-40

Kaby, Wildgoose, Mines Point - assays based on shallow drilling negative

Castlewood, Shields - 3rd qtr drilling done, assays pending

Hercules - no clear description of current activity

Sleeping Giant - couldn't find any mention of this property

Financials:

They have about $ 14 million cash at end 3rd qtr and a consistent burn rate of just over $ 5 mil every qtr this year so they are projected to run out of cash by the 2nd qtr 2011. Unless they do the PP thing again.

The Magino deal is voted on Dec 13 witht the court filing expected by Dec 16. They said they would release an updated resource estimate very soon after. It would be nice to see some press releases this week to build some momentum with the share price. Brian was quoted at the SF conference that KXL should be in the $ 0.75 to $ 1.20 range to properly reflect the EV value after the Magino deal closes, but the current share price suggests the market isn't buying the story yet.

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