My observation has been that when an explorer surges on great initial results, the first time they come out with anything even remotely disappointing the stock sells off. Even if the news is good in the overall context of the story. People get conditioned to think its all just an easy ride to instant resource riches.

There are just a tiny handfull of juniors that control deposits of more than a million ounces of gold. Most of that select group would have either very low average grades, or they are located in regions that are difficult to access for mining, or extremely unstable politically. That is the reality.

So when people bat around numbers like 3 million ounces of gold, when all that is in hand is very preliminary numbers, I tend to get a bit nervous. It is too early to know, and way too early to price that kind of discovery in, given how rare it is and knowing that KXL is probably going to have a high grade deposit, in a favourable country for development. I know that people do not want to hear that from me here. I am sorry but I am honest in my comments whether they are bullish or bearish. Deal with it...

So take into consideration that I do believe KXL has the real potential to identify 3 million ounces of gold or more, I also know the reality of such a discovery is that it will take a long time, and there will be disappointments along the way. Not every hole they pull is going to assay multi-ounce gold. And then every hyper trader that is pledging undying love for KXL on this forum will disappear in one day.

It is a beautiful thing that we have so many high priority targets, and such good early stage results. I would not dream of selling my core holdings. In fact I bought more on the way up so I would have some extra shares to sell into the spikes, and I have also been a buyer during the dips. I have no agenda here except to make money. Honest money, from trading strength and my knowledge of the sector. You will not catch me hyping, and I have far too much integrity to bash. Please take my comments in the spirit they are intended and with full and honest disclosure that I choose to share.

cheers!

mike