Kodiak Copper was a best on the Great Bear gold team pulling off another spectacular win, but this time in the copper space (which management had longer experience with). The initial discovery at depth suggested a very large and relatively high-grade (for bulk tonnage) copper-gold system. Unfortunately, there were serious continuity issues with the discovery and the grades kept getting worse with more drilling. Multiple efforts to find something better under various regional targets failed to turn up anything that looks clearly economic. This and my expectation that copper will take it on the chin when the US goes into undeniable recession this year prompted me to scrape what was left of my capital off the table and move on.