Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-110

Crazy price that's for sure, I am not too concerned, I am a long term holder, it seems to me a lot of dumb traders selling out, probably at a loss. I cant see it falling too much lower than 8c, once the selling is done it will re-rate back over 10c and IMO a fair value is a $50 million market cap or somewhere above 20c, based on the following:

• has a proven resource of 260,000 ozs
• potential for 750,000 ozs to be added from the shallow areas under 100m in depth, drilling has confirmed high grade gold at the cross fault over 400m and in the the paleochannel which extends over 4kms
• now that drilling confirmed high grade gold mineralisation in fresh rock, IMO there is a very good chance of a multi million ounce discovery like that of Whirling Dervish and Karari which are located only a few kms away.
• a significant 2,500-metre AC program has started to further extend the discovery
• HL mine being fast tracked by way of Trial HL operation which will transisiton to a full HL mine, IMO starting shortly
• Booming Gold price
• Hard working and great geo in AP

I am no geo but the drill results and announcements look great to me and other new more respected posters like Wack and eastwest101 have also posted postive posts about OZM.
Every stock on the ASX is a punt but I like the odds here, cant see better value than OZM in the ASX gold mining juniors.
Patience required.