cedar,

Excellent report- Thanks for all the time and effort you obviously put into it. If I can ask a question or two- You mentioned the "pipeline" of projects that Kodiak has. Is it possible to tell where in the pipeline any of these projects are? The GM is now at the point where they are preparing a resource estimate, which I would assume is being done to secure financing or draw in a partner. Any estimate of whether any of the projects you mentioned will reach that potential soon? Most importantly, does it seem as if each of these projects will pan out, as opposed to the ones that were initially promising and then ultimately disposed of?

Again, thanks for a great report.