Hello KXLers,

Like Rico, I too was a little disappointed over the news release. Not because the share price failed to skyrocket, but because the grades discovered in many drill holes were not overly exciting. Yes, there was gold in every hole, but people have known for 30 years that there is gold in this area.

Numerous posters (and the people at Kodiak) are constantly comparing Hercules to Red Lake. This is a good thing. The same folks are also talking about the historic production of 4.1 million ounces in the Geraldton Beardmore area. Also a good thing.

Well I did some comparisons of my own. I compared these drill results to those of Gold Eagle's Bruce Channel Discovery. Now I remember how the Fattman was saying Hercules is the next Bruce Channel. Just looking at the numbers, Kodiak has a long way to go in order to have grades similar to Bruce Channel.

The one thing I must say about the Bruce Channel results - they are finding their high grades in the 1300 to 2100 metre range. Kodiak has yet to push their drilling to these deeper depths. And as many have clearly stated, these formations produce better as you go deeper.

So...am I selling? Not a chance! I am going to sit patiently while Kodiak continues with their drilling program. As I have said in some of my previous posts, I can wait for Kodiak to prove this thing out.

Lastly. I think the real lesson here is about promotional comparisons. When you compare yourself to something really good, you better have the stuff. If not, the markets will make you eat your words.

Bruce Channel seems to be a very good discovery. If we want a major like Goldcorp to swoop in and buy the Hercules project for a billion dollars, Kodiak needs to put up similar numbers. They may even need better numbers. Bruce Channel is close to infrastructure in politically safe Canada. It is also right beside a world class gold mine. All Goldcorp has to do is extend their operations.

So...disappointed, yes. Chickening out and worrying about the sky (SP) falling. Nope. Kodiak has the goods, they just need to prove it. And they are only part way there.

Take care fellow KXLers. Keep your chin up and stay the course!

KG