I think this little comment is one of the most important statements in that NR and its near the bottom of the release so its probably overlooked by many:

"Initial drilling has shown vein widths at Marino increase dramatically at depth. The discovery of these stacked veins greatly increase the width of the target zone for each structure, and Kodiak's drilling program in this area will need to be expanded accordingly..."

Sorry to keep hammering the point, but it is TONNAGE that is far more important at this stage than grade. A small tonnage of very, very high grade gold is not a mine. A large tonnage of 4-10g gold is a good candidate to host a mine and will be far more likely to build value for the company. To build tonnage you need to outline large areas of wide vein widths. Get it?

We are on the right track. KXL has a history of retracements after every NR. We got a nice run from the mid $2 range last week, so a bit of consolidation here is no big deal. If the stock holds above $3 for the week I call that a great week.

cheers!

mike