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From: John McCarthy	5/8/2010 2:00:30 PM
	of 1182

GOZ Posted by FMack Dear All Don't forget the 5-6% smelter charges when calculating your $/oz. So $1200 = $1128-1140 realized. Makes a big difference to the bottom line. On a brighter note, a 10% increase in grade to around 1.35% would equal 44,000 ozs at cash costs around $720 so I would expect quarterly cash flow of around: $1128-$720 = $408 * 44,000/4 = $ 4,448,000.00 or around $18million p.a. However, I have considerably lightened up my GOZ holding and feel much happier about it as I have little confdence this can be delivered. What Goz lacks is more important than what it has: Long mine life Increasing production Consistent or dropping costs U/g grade over 2.5-3.0 g/t Large proven resource Takeover potential Exploration programme I don't mind having an allocation to the stock as part of a diversified play on increasing pog, but my days of dreaming of a big win are over. stockhouse.com CRACKER

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