All-

Enjoyed the time at PDAC. The attendance was pretty good, and in my opinions attitudes were mixed. The bullishness in gold was subdued by the overall markets holding down juniors and the like, and the economy was a genuine concern. I had the chance to meet with Gordon Cummings at length, as well as their IR guy who is also quite nice.

I believe that KBX will have some news coming out here in the relatively near future. They have been spending a lot of their time on an updated 43-101 and I suspect that they will have that released in the relatively near future. Additionally, it appears there is still around $5M in the kitty there, and that they have been very conservative in their spending of cash. There are plenty of drill results that haven't been added to the resource, with some nice strikes...

Gordon had really great things to say about Puplava, and said he feels Jim is more at ease with how things are going with Kimber now than at the beginning after the board was ousted. Also he had good things to say about Eric King.

My thoughts on KBX are even stronger after meeting Gordon, and I think he is a good leader and has thought things through. They've conserved their cash and have the ability to raise cash, just as others are bleeding and concerned about survival. You should've seen a lot of the companies on the floor, they were literally begging to speak to people, and cash was a very obvious concern.

Other ramblings from the PDAC, (and sorry for the delay in posting all this):

- Met Thom Calandra from TickerTrax, and he's a great guy for those that like to read on discovery investing and independent thinking.

- Mercenary Geologist put on a good presentation, and seemed to be a thoughtful person

- The companies that I personally came away VERY impressed with outside of KBX (and these aren't investment recommendations):

- Hathor Exploration - probably one of the largest finds in 15 years by a junior explorer, and an aggressive winter drilling season is starting to funnel results that could prove spectacular. I've bought shares recently as they look like they have great short-term upside and 09 buyout potential

- Navasota Resources - they have just released a 43-101 on their bauxite (alumina) resource in Guinea. With base metals so hated here, it's easy to see why many don't know or like the company. They have a massive geological find here and it is very undervalued. They are shopping the resource, and I think this could conservatively become a 5-bagger.

- Almaden Minerals - this is a stellar management team, and a prospect generator, which is much less risky than actual mining. They have good cash, and a few really exciting properties. I think they've thought this through, and you could see them do a slight switch into monetizing their asset base to show the market how valuable they are relative to the public value.

So, all in all, really enjoyable and great people in a great city. It's tough to tell the future, but my opnion is that people still don't understand the magnitude of what the world is in. Every little rally brings people to think that banks are all the sudden healthy and the economy may recover quickly, when reality could be a bit harsher. My own impression is that we're due for a rally in the general markets, and I really hope our stocks in gold and resources don't lose - as it's becoming tough losing when you should be winning all the time!

Good luck, and again, this is an undiscovered company as many of us already know... I hope they can give us some news to give us a stock price north of $.75 or so for good... Tis getting old...!!