TODAY'S DISCOVERY, TOMORROW'S FUTURE
Creating shareholder wealth by advancing gold projects through the exploration and mine development cycle.
Message: Vancouver Conference
Vancouver Conference, Jan 2008 I couldn’t have imagined better timing for an investment conference. I was so glad I wasn’t sitting at home in front of a very red computer screen wondering what the hell was going on with the markets and the economy. Instead I was one of many, and I do mean many, people listening to incredibly experienced and intelligent minds discuss and debate what they thought has been unfolding, what lies ahead, and what the best course of action may be. Just as you may expect there were a variety of views, but there were a few consensus, 1 – there is more bad news to flow though the US financial and banking system and consequently many other parts of the economy, and 2 – you better have gold in one form or another within your portfolio mix. Kodiak Presentation Held upstairs in a separate quiet room, this was also well attended for the room size. Brian Phelps gave a very good overview of the company followed by a detailed description of their current focus of attention. As Brian went on, you could see his true enthusiasm and passion regarding the Hercules discovery. His favorite slide was the long section diagram of the central golden mile. He believes based on this model that it is very probable this pattern will continue along the vein as well as to much greater depths. During this presentation I had the feeling as if Brian was completely oblivious to the share price plunge – not because he was unaware or somehow sheltered from it, but more like his true feelings seemed be that in the long run this market swing won’t really matter. If they continue to pull up these kind of results then this time next year nobody will really care about the events of today. He really has been elated with the results to date. “The long section shows that 30 of the 45 drill holes in the western portion of the Golden Mile have intercepted gold mineralization grading greater than 3 gm-meters. This “hit-ratio” of two in three drill holes in the exploratory drilling phase is very high for an Archean vein system; by comparison advanced drilling in a typical mine environment like Val d’ Or or Red Lake, a hit ratio of one in ten or one in five is common. At the Golden Mile, even the drill holes with less than a 3 gram-meter intercept are gold mineralized, indicative of the strength of the system.”
Bill Chornobay was also present and spoke up during question questions after the presentation. He mentioned a few important points:
1. Majors have been interested in Hercules
2. The private placement could easily have been double the size
3. They will not focus resources on completing a 43-101 until they have a much better understanding of the actual size of this system. “Why would we sell a resource early only to find out it was multiple times larger”?
4. Bill made reference to this being the perfect storm.
5. Although he is concerned for the shareholders who have experienced a dip in the share price, his advice is to simply be patient. He is not worried at all.
As you can tell, I left this presentation feeling very comfortable with my investment. I really appreciated the whole Kodiak team taking as much time as was needed to talk with me and others personally.
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