Congrats to KXL management for raising the money they need to move forward aggressively, and getting a deal done at reasonable share prices.  Just a month or two ago KXL was trading below a buck.  Dilution is a fact of life for a junior explorer since there is no other way to raise money.  As long as the value per share is increasing faster than the number of shares issued, then its a good scenario for investors.

Do not fool yourself into believing that Cormark is doing KXL any favours.  They are going to market this story to their clients and will make a quick profit of many millions.  Their interest in KXL will be to hold broker warrants which cost them nothing.  It is great to have the clout to pound the market for tens of millions of dollars but they are not doing us any favours.

Having the cash in the bank removes one more level of risk from the story.  It still comes down to how many ounces of gold they uncover.  At least now we have the ammunition to go after it.

cheers!

mike