Extract from Chairman's address at AGM last November...""The...

Extract from Chairman's address at AGM last November...

""The Managing Director will, in his presentation, take you through the operational areas of the Company and highlight our
expansion plans going forward.
I am pleased to be able to indicate to you that the Company continues to perform well, having achieved, in the four
months to 31
st
October 2012, both EBITDA and profit before tax results that are ahead of the previous year. This result is
in line with our expectations that the 2012/13 year will be a year of further substantial growth for the Company.
Mining services companies have been under some pressure in the financial markets recently due to commodity prices
and subsequent deferments of resources projects. While Austin is not immune from these events I would make the
observation that we are not as reliant on new projects as some. Our market is, to a large degree, in the replacement
business and as such so long as the cycle of wear continues there is a requirement for our products.
In the Annual Report I made mention that our recent acquisitions and capital expenditure had been funded by internal
cash resources and debt and this has had the effect of increasing our gearing ratio to 33% as at 30
th
June 2012. While
this level is conservative and comfortably within our bank covenant requirements, we wish to be prepared should
additional opportunities present themselves. This is why one of the resolutions we are proposing today relates to a
possible placement. If this resolution is approved and we do proceed with a placement, it would be the Company’s
intention to offer a Share Purchase Plan to our existing retail shareholders."

So, could be a cap raising SOMETIME......from memory last one was at quite an attractive price and I would happily participate.
Note the comment re how business was going in first 4 months of fin year and that their business largely relies on replacement business at EXISTING mines.