Just maybe, the delay has something to do with the sector split they talked about last year in the June 19 news release. It said:

“Kodiak is pleased to announce that it has completed a major corporate restructuring as the first step in its strategic plan to unlock shareholder value by establishing three separate companies having significant asset pools in the base metals, gold and uranium sectors.

Kodiak believes that the investment community is focused almost entirely on its Caribou Lake project, and that its other assets, the Hercules gold project in Ontario and the UR, Mat and 308 uranium projects in Quebec’s prospective Otish Basin, are not being recognized by the market.

Accordingly, the company has formed three divisions and has retained the services of two experienced explorationists to build asset pools in each division independently.

This restructuring will set the stage for the spin-off of new companies in each sector as the asset

pools are developed to the point at which it is appropriate to have them financed and managed as

separate corporate entities. Kodiak’s shareholders will receive shares in the new entities proportionate to their holdings of Kodiak shares at the time of the spin-off.”

We now have Hercules instead of the Caribou Lake project as the focus of attention by investors, which changes things, but there is no indication they are making a change in direction. As they said in the more recent January 8 NR:

“The discovery of the Sleeping Giant zone with ready access to infrastructure adds a significant new asset to the company’s base metal division. This fits well with the company’s strategy to aggressively grow three separate divisions:”

They just might be waiting for results from Otish and/or Athabasca to round out the full house necessary for the final sector split. The funding is now in place.

Besides, the timing is wrong for development of a remote project like Caribou Lake, which eats funding at about 10 times the rate of working the Geraldton Beardmore projects.

Looking forward to the next news release about, not just drill results, but finalized plans about the separation of sectors.