High River Gold Mines Ltd HRIVF

The reason we are at .10

[metalmaniak]

since the Severstal deal announced, there has been no pr from Severstal on state of the operations, accounting in Russia and intentions going forward.

Until these are addressed, we are going nowhere.

Mosher was a crook, there is no doubt that him and his Russian pals stole money, thus the delay of accounting from Buryatzloto. He is fired now so the worst is over and Severstal should let investors know the truth about the Russian operations.
There will be no more theft as Severstal will take care of that geting rid of he crooks. Good thing.
I hear that new Russian mine operating very well, while Africa will once again likely be shut down shortly for repairs. This was issued in a PR, so will not affect the market.
Severstal needs to come out with a statement on what they plan to do.
I dont see any way that they will produce 300k in 2009, as Africa is still a big question mark.
I see 125k from old Russian mines and about 75k from new Russian mine, so 200k in 2009 at 500-600 cost.
40 mil EBITDA is my estimate.
If Africa is fixed, this is a big bonus as ebitda will grow as does my price target.
My price target is about .40 cents if Severstal decides to keep it public, which is great upside. This is my lowest case scenario.