High River Gold Mines Ltd HRIVF

RE: Audit

[elav]

I am almost certain this delay has to do with the write down of Prognoz.  You cant just write an asset down like this, they must have known that the previous auditors wouldn't sign off on this and wanted to use it as a way to temporarily hold down the value.   Now that they are in position to make their bank they can have the financials audited and this asset will be written back up to market value.  I bet the writedown did not conform to gaap and I assume there was more time required to do a proper valuation on prognoz so that the auditors will sign the unqualified opinion letter.