I have gone into detail to explain why I am short-term bearish on KXL, but as a long term investor, perhaps I should list the reasons why I am bullish as hell and looking to add to my current position:

1) Cash is king! After this bought deal closes, KXL will have one of the strongest treasuries of any junior listed in Canada.

2) Exceptional inventory of exploration prospects at Hercules, plus a suite of properties providing diversified exposure to other resources.

4) Strong management with proven exploration success on the resume.

5) Clean share structure since no warrants will be attached to the current bought deal.

6) Potential for high grade results from all of the projects, and the market bids a premium for high grade news.

7) A growing deficit of large gold deposits in Canada will make new discovery stories more valuable for acquisition.

8) Gold remains in a bull market.

9) 100% control of Hercules and the acquisition of surrounding property interests means that KXL will not have to negotiate with other players to advance development.

10) Favourable location and jurisdiction for mineral development at Hercules.

11) Intense exploration program throughout 2008 will ensure steady news flow.

12) Pending split of corporate interests into spinnoff companies will unlock value of base metals and uranium divisions.

13) Growing awareness within the analsyt and advisor community of KXL projects will generate coverage and positive media exposure.

I could go on, and others are free to add to my list. I still have a bid in for more shares at $3.06 and just missed getting filled today. I may put in a real stinky bid around the mid-$2 range as well. However low the stock trades during this correction, I think we will regain that relatively easily and go on to set much higher highs in 2008.

cheers!

mike