High River Gold Mines Ltd HRIVF

From Severstal's latest release

[discern]

Thanks to John Helmer's article I read the most recent press release from Severstal Gold.


In addition and in accordance with the commitment given at the time of its H1 results announcement, Severstal is releasing today selected operational and resource data for its gold division (“the Gold Business”) in order to increase its transparency and demonstrate its contribution to Severstal. The Gold Business is an established international, producer focused on emerging markets with currently eight producing mines, two development projects, five advanced exploration projects and a broad portfolio of early exploration projects and licenses located across West Africa in Guinea and Burkina Faso, Kazakhstan and the Russian Federation.
The Gold Business continues to make significant investments into reserve expansion of its existing assets as well as new exploration projects. Its exploration and resource evaluation expenditures budget for 2011 is over US$100 million.


and even an investors presentation
https://www.severstal.com/eng/ir/conferences_presentations/business_presentations/4010.pdf


I don't know what percentage of the $100million of exploration is to be performed on HRG's properties, but I would imagine that between Pronoz and Bissa will receive on minimum half the money for exploration.
Furthermore, the language of transparency in this press release appears to be a direct attempt to pave the way towards an IPO.
Finally, adding investors presentations is demonstrating that Severstal is placing much of its future in its gold division and HRG attributes at least half the value for them.
I expect HRG to continue to increase in value and although we may not see positive press releases for HRG along, Severstal has determined that they must now professionally promote their entire gold division which will only booster the price.
3.00 by January 1, 2011 (although I have been wrong before many times).