You raise valid and good points. Each NR has only resulted in a weaker SP. The over promotion of the Golden Mile as North America's potential greatest discovery still lingers on. At some point the market will take note of the new strategy. I think of the KXL SP as a coiled spring and at some point will bounce back up. But to do so, KXL will need to execute on their strategy as outlined in their January 18th corporate presentation.
The optimism comes from the fact that KXL is not a 'one trick' pony. If we had only to rely on "Golen Mile" we would be in trouble. However, KXL pipeline activity is to help mitigate exploration risk. The story is not the Golden Mile, but the Golden Mile will be part of or a series of potential mines in the B-G area or other areas through acquisitions of ounces in the ground versus land claims. Acqusitions of ounces in the ground can be added to the balance sheet and add immediate intrinsic value and can be converted into higher SP, whereas land claims add little value until a discovery is made.
Successfully management teams do not ponder on the past failures but continue to look for ways to find success.
So optimisim comes from several aspects :
1) KXL Strategy: Mulit-prong and concurrent ( first:43-101 for hercules, secondly: Traditonal exploration with current pipeline projects and thirdly: acquisition of ounces in the ground), see page 4 of the January 18th corporate presentation.
2) Recognition from the board of past disppointments and the urgent need to rebuild credibility through sccessful results.
3) Transition of KXL from a 'promoter' to a professional well run company
4) not to mention uranium
5) Location in mining friendly jurdisctions in Canada
