big buyer this morning, page-12

some facts re axehead's claim of "high debt companies" like OGC and AVO

As of September Quarter figures OGC had about $180 million of debt. It may now be $204 as axehead says above.

I am not sure if this makes OGC a "high debt company"...

It all depends on their future income/ earnings.

As for AVO, I do not see how axehead is correct at all. It is not a "high debt company". Page 10 of Sept Quarter is self explanatory - $65 million cash and $40.5 million debt...
seems manageable...


Financials (Unaudited)
As at the 30 September 2010, Avoca had A$65.3 million in cash and cash
equivalents including A$58.0 million cash and A$7.3 million in bullion on hand.
Avoca?s senior debt facility limit is A$41 million, which is drawn to A$40.5
million at the end of September quarter. The senior debt financiers agreed to
reschedule the 30 September 2010 debt repayment and facility limit reduction
(totalling $20 million) to 30 November 2010 as part of arranging a new working
capital facility that will replace the existing amortising senior debt facility which
is due to expire in March 2011. Expressions of interest have been sought from
a number of financiers to provide the new working capital facility.