My point re "high debt companies" is that the lesson of the GFC...

My point re "high debt companies" is that the lesson of the GFC was high debt companies lose value like steam in adverse situations like a dramatic fall in gold price. The debt has to be paid still and little likehood of money advanced for development. This is the bind of BCD (Beaconfield). I look at debt very closely in relation to earnings. Avoca and Newcrest have huge debts and big earnings when gold up in price but vulnerable both copped a hammering during the GFC.