I believe Kodiak has already calculated the numbers and have a resource estimate but now need a 3rd party to validate it. In their NR from Nov 27th they said the announcement of the 3rd party was expecting in the coming weeks, I assume this would be any day now (unless they have already gone ahead without bothering to mention it). Also that they would like to have the resource estimate done by the first quarter of 2010.

Here is an excerpt from the NR:


--"Kodiak expects to announce our third party consultant for resource vetting and verification in the coming weeks. Completion of the resource estimate is planned for the first quarter of 2010. The resource estimate will include recommendations for further work, including an evaluation of options for an underground ramp, bulk sampling, resource verification underground drilling, and a preliminary economic analysis of the Hercules project"--


Since the PDAC is March 7-10th I would think they would want to have the 43-101 completed by then so I'm thinking somewhere around the end of Feb (if possible).

After that point at least we'll have something tangible to base the SP on, the resource estimate could potentially be a game changer but I'm using 300k ounces as my benchmark. At this stage in the game that would be a good starting point but that number is fairly arbitrary and only based on rough numbers. Anything above that I would expect a pretty good spike in the share price.


We can look forward to the other project for building additional value into the shares as well.


Gamblor.