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

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.