I did some more digging on Allenbow's post and Arequipa and found a NY Times article from 1996 that gave a a nice glimpse into the acquisition frenzy that occured in the late 90's. The article is a great read and goes to show you that if you have a great property with multi-million ounce potential - the sky is the limit.

NY Times Article - 1996

IMO the most eye opening quote from the article was on the 1st page:

"On Aug. 16 Barrick, demonstrating an insatiable appetite for acquisitions, sweetened the offer to $30. On Tuesday, Barrick locked up the deal after 93 percent of the Arequipa shares it did not already own had been tendered...Several analysts wondered whether Barrick was not paying too much for Arequipa. The Peruvian site would have to yield 9 million to 10 million ounces of gold to justify the price, they said."

Would have to? It seems as though Barrick made their bid for the pervian properties even before the Vancouver based exploration company had even proved up ounces.

Now if thats not promising for all the KXL shlongs, I dont know what is!

P.S. its really painful to see the mention of bre-x in this article since so many investors got burned, but the author stated that Barrick had a chance to get into the Bre-X deal but could not get a deal done! Talk about good fortunes!

Nice day today for KXL, lets hope for another strond day tomorrow and some good news soon! I'm foaming at the mouth just thinking about how much information will be in the next NR after a few months of drilling and stripping!