running the numbers, page-4

Reference the location of the AGM in Melbourne vs Canada you may remember that American based hedge funds eg Osperie were substantial shareholders - they are now largely gone and probably a larger shareholder base in Australia + NZ.

It is reasonable to expect that cy2009 will help to put finances back in order from mainly unhedged production.

The interesting period is cy2010 with 100,000 ounces at NZ770 and 100,000 at NZ1070.

Two things are working in OGC interest - the lower cost of production arising from lower input costs. And you need luck such as the Frazer U/G drift intersecting a face of thicker and higher grade ore under Panel 2.

My estimate is that this new ore zone will be in production in cy 2010 with minimal cost. It could add 20,000 ounces pa to production and reduce U/G mining costs.