goldoz ti brief, page-19

"..I got the distinct impression from AGM broadcast that we will see improved production cost as of this Q.."

At best about (my estimate)$50poz, more likely $30poz. Still too high. UG mining costs and performance are the issue. The mill at $24pt (target $22pt) is fine.

The only short term fix to high cash cost per oz is to process high grade ore. They will not be able to get enough high grade dirt on the deck to make much impact. This is the reason (especially in previous months) that they have been processing the low grade stockpiles. There is some desperation to get The Mount up for this reason.

I'm resonably confident that it will eventually improve, just not until well into 2011