High River Gold Mines Ltd HRIVF

RE: RE: RE: RE: RE: RE: Scluri

[discern1]

I don't think that there is panic selling going on.  I think there was a fair bit of money in HRG that was expecting price  momentum as the IPO drew near.  Since it appears that the IPO might be delayed, these "gamers" have moved their money to try their luck elsewhere.  This money will come back in January.
Unfortunately, for them it might be too late to get in cheap.  Once the warrants expire on Nov. 8th, there will be no reason for Severstal to begin promoting the success stories of HRG.  Over the next two months we have a lot of good news to hear about including:  a record quarter, results from Bissa with potentially a new resource base, the completion of the Prognoz bankruptcy,  the final payment of all outstanding debt including the Royal Gold covenant, a completed feasibility study for Bissa including the start of mine development. . .  I would anticipate that our fearless leader (severstal lawyer) will bend every rule possible to ensure that all of these results will be placed in the best light possible.
I further would expect that once bankruptcy proceedings are finished with Prognoz, that we can expect a very healthy drilling regime at Prognoz along with a huge mark up in its valuation.  Remember Prognoz suddenly lost half of its value when Severstal was trying to purchase HRG from minority share holders.