re: Ann: OGC Announces 42% Increase to Minera... OGC have...

re: Ann: OGC Announces 42% Increase to Minera... OGC have stabilised their NZ operations at a cash production cost of around $US440/ounce. Recent drilling is demonstrating the extent of the mineral endowment in NZ and will give confidence ofor a longer life operation.

For a 280-300,000 ounce lower cost producer OGC has a very low market capitalisation.

This arises partly from the hedges to be delivered in 2010 but after that OGC is an unhedged producer.

The convertible note debt is another issue but counteracting that is the point that the window is open for capital raising for gold companies and I am sure OGC can raise capital when they require it.