High River Gold Mines Ltd HRIVF

Back in...Ive met the Severstal team

[metalmaniak]

Took a beating in this name but exited at .60 and watched the dream team of Mosher and Whalen almost sink the ship.
These guys had no clue the Nomos loan was not a rollover, and Nomos wanted the assets from what I heard. They are gone and good ridance.
Severstal obviously bought 9.9% at .60 cost before the crisis hit, and the rest is history.
I am back in for nice size the last few days, and I will put this in storage.
I have met the new CEO and I can tell you, he is young, smart and presentable. As opposed to Mosher who was old, stupid and unpresentable. Night and day. One is a loser the other a winner.
The street will not give this company credibility until they see the assets perform and transparency from the new management. Road shows, conf calls, etc...
Prognoz from what I heard is not a bankable project, so likely will be sold off if a buyer is found. It will cost too much to build it, so Severstal will concentrate on getting the two new mines into full production, and building the reserves around them. Bissa and surrounding territory of Berezitovi.
I have heard that just building roads into Prognoz would cost 400 mil dollas so not a good idea to invest there.
They could also likely take out some other troubled companies, notably in Africa.
I see this going to .20 eventally, then the rest will be how the assets produce.
If they produce 100% at both new mines, get rid of Prognoz, and buy out some others, this is billion dollar company woith 1000 dollar gold, or over 1 dollar per share.
Good luck, I am done buying and am back in at .115