Over the last few days I have increased my share holding in KXL by over 60%.

Foolhardy perhaps!

Reasons as follows:

1) For all the good points on KXL why I bought into KXL in the first place (Feb 2009). It has not panned out as hoped, but we still have plenty of irons in the fire.

2) The excellent analysis information and discussion on this forum by some very clued up guys. Thanks for all that.

3) Gold fever is hotting up, and juniors should really take off once the general public gets addicted to gold, the Indians and Chinese certainly are putting the pressure on. The rewards in KXL could be great IF we get better news in the future, and there are good reasons why we should but patience is required still.

Very important in my view- The price didn't collapse below 50 cents on the disappointing news (two lots).

Over the past year the 50 cent mark has been touched 3 times (Dec '08, May '09 and July '09)

Given the fact that this bad news is out and support is holding (so far!) above 50 cents- that is positive. I was holding my breath when the bad news came out and thought we may have a collapse like in the autumn of 2008, anyway we didn't.

Another point, many threw in the towl on quite high volume, but somebody was buying those shares. (underwriters holding the price up-may be, but I'm not convinced that was the case). It is almost as if we had a selling climax given the volume we had over the last few days.

I may have made a big miscalculation of course (I have made lots of those over the years!) but taking risks when blood is on the ground gives big rewards if you take the right bet.

Just the opinion of one shareholder who has a churning stomach right now!