Maybe I have too much patience but I am not disgruntled with the performance of this stock. Of course I am disappointed that KXL has been trashed worse than most other juniors, and I would prefer if we had some enriched zones in the bag to at least hint on economic resources at this early stage, but I also understand the nature of exploration activity and was fully prepared to hang in for the long haul when I made the decision to start buying. KXL geos have chosen to do a systematic exploration program and that means they are not going to just run around punching random holes in the hope they will hit something. I think the company has communicated that they plan to just follow the trend in a series of step-out holes and gradually test greater depths in sequence, even though most people expect that the better intervals await at much further deeper levels than we are currently down to.

The impressive intervals that have come from the early work are what keeps me optimistic, and the large cash position in the treasury. I am also bullish on the total property area controlled by the company, and the nearby mines that prove high grade gold deposits are emplaced within the district. Lastly I think its worth noting that insiders have put up a big chunk of cash to participate in the last placement and that is the commitment that an exploration company needs to demonstrate in order to keep retail guys like myself on board.

Every time KXL has dipped into the 50 cent range it has been a good level to buy at and I have no reason to believe this time will be any different. It is hard to buy a stock that is stuck in the mud when others in the sector are flying, but if you want to sell high you have to buy low. Once KXL gets a tailwind and starts to move higher it will become harder to get filled cheaply. Right now investors can buy up all the stock they want just by sitting on a bid.

This is a risky stock and it always has been. People that were excited at $4 when we were trading a million shares in a day should be very happy they can load up now for under 60 cents, but that is not usually how people think. KXL is a better stock to own now because we have that much more work done, and there are several projects on the go now that were not even in the concept phase 18 months ago. I will not be surprised if the stock runs to the $5 level again some time in the future, but I will not be crying in my beer if things do not work out. That is just part of the playing in the sector and sometimes you hit it out of the park, sometimes you strikeout...

cheers!

mike