h_r,

I disagree with you on the 43-101 being required for takeover/merger/JV interest. The big companies have their own geos who are quite capable of evaluating the deposits before all the Is are dotted and the Ts are crossed on the 43-101. There have been a number of takeovers where the takee (?) had not completed a 43-101- one was mentioned previously on this board. Might have been Aurelian. The 43-101 is more important for outside financing- it's a standard way to present the data and calculate the resources and potential profitability so that the financing can be justified to whoever is providing it- even if they are not "experts" in anything other than evaluating 43-101s.

BTW- I'm glad Kodiak is doing the 43-101, and I look forward optimistically to the numbers. But I still wouldn't mind bypassing it and getting financing through other means. Instead of a 10+% dilution, I would rather have seen Kodiak sell a 20% share in the GM, or even the whole company, to a major in return for funding the capex required to get it to production. Then Kodiak could focus on exploration. I'd rather have 80% with production guaranteed and no more dilution than 90% with no guarantees. This assumes, of course, that Kodiaks results so far could convince a major to do that.

spiny