It seems I cannot make any point without contributing a long post so I will try to keep this short...

It is a waste of time to try and create a comparitive value for KXL based on the presumed ounces in the ground of our potential resource. That would imply some rational basis behind the decisions people are making these days, as if investors are willing to do intense research on the stock, take out their calculators and work out how much value they are getting, before choosing to buy or sell. Maybe that sort of thing is happening, but I suspect its more a case of a trader getting home from work and seeing that the market has dropped severely, and then selling a huge chunk of his PF out of fear. Research be damned, I want out now...!

When a market is selling off irrationaly, it creates exteme values. Once the wave of panic blows off, there is an oportunity for those who ARE rational to step in a buy up the good juniors at firesale prices. The most pressing question then is to determine which are the quality juniors as opposed to many other junk stocks that became popular and achieved unsustainable price levels.

Look up the chart of any great stock for the last 2 years, and note the number of times that the stock encountered selloffs. Does anyone here think anything at all was different? For every company there will be times when the confidence of the investor is called into question. It ALWAYS seems like a crisis accompanied by finger-pointing, bashing, alegations of widespread shorting, weeping and wailing, and bitter comments submitted by disenchanted sellers.... And once all that has passed, the quality juniors recover because those who are not apt to panic will step up and buy the hell out of the bargains.

I humbly submit that KXL has plenty of attributes that would suggest it ranks among the QUALITY juniors. A company does not have to present a compliant resource of a million ounces of gold to be counted as quality (in fact I could list several that have that and are most definately not quality, but thats a rant for another day...). As an explorer, if KXL can demonstrate at least one great property for a discovery, has the money to do some work and access to at least one drill, and a geologist or two that can at least find 2 socks that match... its worth hanging around long term.

There was a lot of chatter on this board a few weeks ago about insider buying. I maintain that insider buying is not an indication of great drill results to come, because they do not have access to that info and would be stupid to be on record as buyers if they did. The significance of insiders buying is that it indicates the company is for real, and not just another promotion story. If insiders thought that KXL was a good buy at $4, then how much better does it look now below $3? I suspect we will see that insiders have been buying this week when the next report comes out.

The shorts are a red herring at this point. Even half a millions shares in the total outstanding short position is peanuts for a stock that can turn over several million in volume on one session. Shorts are often the same retail schmucks that buying the tops in other stocks, ie. they are selling the bottoms and will lose bigtime when they find out how wrong they were on the trade.

So thats my synopsis of the situation. And oooooh! I dont want to be cast as a promotional guru that is out to influence the gullible, so please just do your own DD, and I advise the gullible to look elsewhere for your discussion if you have plans to come back and point a finger at someone else if your investment plans go sour. There is nothing more pathetic that a moron who posts on a public forum that he was influenced by bullish chatter.

cheers!

mike