High River Gold Mines Ltd HRIVF

Taparko's production is coming along

[production05]

Taparko's production - 100%:

Q1'09 - 22,406

Q2'09 - 20,139

Q3'09 - 25,000 approx. (per Royal Gold)


Taparko's production - 90% attributable to HRG:

Q1'09 - 20,167

Q2'09 - 18,125

Q3'09 - 22,500 approx.


It means approx. 4,375 more attributable ounces at Taparko in Q3.  That likely means an additional C$2.5M in operating profits from those additional Taparko ounces alone.

Furthermore, the gold price increased to about US$960 in Q3 from US$924 in Q2 (as a side note, Q4's average gold price will likely end up in the US$1,070 ballpark, and we are almost halfway through Q4).  It means that the initial 18,125 attributable Taparko ounces should have generated C$2.6M more in Q3 operating profits just strictly from the gold price increase alone (HRG is 100% unhedged with regards to gold sales of production ounces).

To summarize, the data is strongly suggesting that Taparko alone should have contributed over C$5.0M in operating profits and cash flow in Q3, incremental to performance in Q2.

We'll see if Severstal / Severiver management  found another sneaky way to mask the High River and Taparko performances in Q3.

[Olderwisernow]

This quarter on the financials, my opinion only: I think they should write down the CEO Igor and the BOD as huge depreciating assets, maybe even a complete write off,  by about 100 million. Then they might say that Prognoz is worthless now, as the price of Silver has been rising, which they see as bad for Prognoz. Of course when silver price was lower, it was worth doing deals over and even