I also attended the PDAC presentation today. For what its worth, I came away with three new views of the company.

1) The importance of the last two holes is that the vein they intersected was blind to surface, that is to say, unlike previous holes where the veins were visable after ground clearing (as in the pictures on their web site) this vein was found by the drill. The first drill hit the vein in the foot wall and the second drill was positioned and showed a 7 m wide interept. This is most revealing about the stacked nature of the system. Of note we have only been down 300m, (in Red Lake the main gold zones are down in the 4,000 to 6,000m area) - we are literally just scratching the surface. Brian said he woul love to get 1 or 2 drills down to 700m this year. As Brian said, it is about tonnage.

2) As an old Caribou invester, base metal projects such as Caribou and Sleeping Giant are on the back burner. Because the market now values Kodiak as a gold company, the market really is focused on Hercules. Results on base metals would not materially add to the market's understanding of Kodiak. As such only line cutting and IP work will be done on Sleeping Giant this year. They are still assets, however, and the company would be open to the right joint venture.

3) Kodiak sees itself as a large district play. Given the large land package they have, they have identified a number of other targets quite apart from the Golden Mile that are "very nice high quality targets" with "gold mineralization on the surface that needs follow up." I was led to believe that one or two of these targets might be drilled this year. If they were to turn something up, it would be game on as the market is not expecting it and how would the market then value the huge land holdings that Kodiak has to date.

Glad I went.

Cheers.