today's afr article on avo, dio, & rms, page-2

What I got from iress (similar to today's AFR article)

*DJ Avoca CEO: Dioro-Ramelius Merger Would Be Backward Step

(MORE TO FOLLOW) Dow Jones Newswires
August 04, 2009 03:21 ET (07:21 GMT)
*DJ Avoca CEO: Won't Accept Ramelius Offer For Dioro Stake

(MORE TO FOLLOW) Dow Jones Newswires
August 04, 2009 03:22 ET (07:22 GMT)
*DJ Avoca CEO: Don't See Value In Ramelius Asset Base

(MORE TO FOLLOW) Dow Jones Newswires
August 04, 2009 03:23 ET (07:23 GMT)
DJ Avoca CEO: Dioro-Ramelius Merger Would Be Backward Step

KALGOORLIE, Australia (Dow Jones)--Avoca Resources Ltd. (AVO.AU) Chief Executive Rohan
Williams Tuesday criticized the proposed tie-up of Ramelius Resources Ltd. (RMS.AU) and
Avoca's own takeover target Dioro Exploration NL (DIO.AU) as a "major step
backward."
Last week Ramelius trumped Avoca's A$68.3 million all-share bid for the gold miner
with a A$92 million merger proposal, after Dioro directors had accepted Avoca's
approach.
"It won't take long for Dioro directors to realize that this proposal is
comparing apples with apples. Avoca is set to produce in four months what Ramelius
proposes to produce during the entire underground mine life of Wattle Dam," Williams
told reporters at the Diggers and Dealers conference.
Avoca aims to produce 190,000 troy ounces of gold during the current financial year.
The Perth-based miner already owns a 22.23% stake in Dioro, and reiterated it would not
accept the Ramelius proposal.
Asked if Avoca might jump one step up and make a play for the combined assets of both
Ramelius and Dioro, Williams said he didn't see value in Ramelius' asset base.
-By Elisabeth Behrmann, Dow Jones Newswires;
612-8272-4689, [email protected]