I think I was the first to characterize the news as "more of the same" and "not the motherlode". That was not a criticism, but a characterization. I knew that non-longs holding in anticipation of the possible announcement of the motherlode would sell off based on the drill results, which were, again, "more of the same". Good, but not what is needed to move the share price. And as shareholders, we really have nothing else to judge a stock by. "The price is down, but we have great properties and good management" isn't what I want to hear. As I've mentioned before, I understand the work needed to delineate a resource, and I would prefer that work be focused on that goal. The news included drill results scattered around KXL's properties- not what I would call focused. I do realize that some of that work was intended to decide which areas to focus on and to decide what properties to keep, but at some point they really have to focus on building a resource. They have already run through almost 2/3 of the money raised in the last stock offering, and seriously need to have something concrete to present very soon other than drill results- even if the drill results are good. Raising anywhere near the same amount of funds again at the present sp would involve some serious dilution. Assuming they don't find the motherlode soon (and I don't think counting on it is good business), they need to develop a well enough defined resource that they can lure in a partner with deep pockets to keep this going through the stages beyond simply prospecting.

Maybe I'm overreacting- but if I am, it's because the lack of information put out by Kodiak is not exactly comforting. They need to keep their shareholders better informed about not just drill results, but about progress in moving this company forward. To me, the recent news release does not represent anywhere near the progress I expect after five months of no news. The next release needs to be soon, and needs to be much more substantial.