High River Gold Mines Ltd HRIVF

Kuryi take over

[discern]

I did a little calculation with the Kuryi takeover since I was considered about further meddling by our board.  The sum total of all shares at the price listed in the press release totalled a grand total of $6500 CDN.  

    I don't hink that this will effect share price much.  I can't imagine why this new addition was needed to HRG.  One thing is for certain though, this company knows how to buy things for bargain basement prices.  Who knows, maybe the fair market value of this asset was $30K?

[production05]

“The 2008-net profit (RAS) rose to 360.27mln rub. from 313.7mln rub. prior year; revenues - to 3.498bn rub. from 3.349bn rub.” 28.4498 Russian Rubles = C$1 (currently) Net Profit = 360.27 Million Rubles / 28.4498 = C$12.7M in 2008  Revenues = 3.498 Billion Rubles / 28.4498 = C$123M in 2008  It seems like they are saying that Kuryi Gold realized C$12.7M in Net Profit and C$123M

[goldlust]

Emailed Dan H. of Investor Relations who said he was unaware of the transactionbut said he would forward the email on to the CEO. He got back to me today withthe following answer, "Kuryi was a shell company", to which I replied that I hoped itwas not another attempt to move Prognoz to a shell company like they tried withRoscan Minerals.

[production05]

If Kuryi Gold is a shell company then the Net Income and Revenue they are referring to below might be for Buryatzoloto. It's unfortunate that we haven't seen a New Release from the company regarding this acquisition. I'm sure it would help to clarify what actually took place. "Buryatzoloto acquired Kuryi Gold (Altaisky reg.), the company informed. Earlier, it had none stakes in