What happened to these reports? I haven't seen any, have you?
High River in default, plans Zun-Holba resource update
2012-03-01 14:44 PT - News Release
Mr. Konstantin Sobolevskiy reports
HIGH RIVER GOLD ANNOUNCES DEFAULT PURSUANT TO NATIONAL POLICY 12-203
The Ontario Securities Commission has noted High River Gold Mines Ltd. in default of its continuous disclosure obligations under Ontario securities law due to the company not having filed National Instrument 43-101-compliant technical reports to support the current mineral reserves and mineral resources at its Zun-Holba and Irokinda mines.
In 2009, the company filed a technical report dated Oct. 10, 2008, to support the mineral reserves and mineral resources of the Zun-Holba mine and a technical report dated Sept. 30, 2008, to support the mineral reserves and mineral resources of the Irokinda mine. As indicated in the company's subsequent public disclosure, the NI 43-101-compliant mineral reserves and mineral resources at the mines have been essentially depleted, though production has been continuing. As a result, the OSC has concluded that there has been a material change in the mineral reserves and mineral resources at the Zun-Holba and Irokinda mines that is not supported by the technical reports filed in 2009. Accordingly, the OSC is of the view that High River is required to file new NI 43-101-compliant technical reports for the Zun-Holba and Irokinda mines.
The company has faced serious operational and liquidity issues over the last several years and implemented cash conservation measures in third quarter 2008. These measures delayed the preparation of technical reports for the Zun-Holba and Irokinda mines. The company subsequently engaged in extensive negotiations with a number of engineering consultants regarding the preparation of technical reports for the mines that were only recently concluded.
The OSC has noted the company will remain in default until it files new NI 43-101-compliant technical reports for the Zun-Holba and Irokinda mines. To that end, the company has mandated its internal geologists to co-ordinate the preparation of NI 43-101-compliant mineral reserve and mineral resource estimates to support the current mineral reserves and mineral resources at its Zun-Holba and Irokinda mines. The company anticipates that a new technical report for each of the Zun-Holba and Irokinda mines will be completed by March 30, 2012, and the company will be in a position to file such technical reports concurrently with its annual filings for the financial year ended Dec. 31, 2011. Furthermore, the company engaged Micon International Limited to prepare NI 43-101-compliant technical reports for the Zun-Holba and Irokinda mines, and Micon is scheduled to start this work in April, 2012. The Micon technical reports are expected to be completed in third quarter 2012 and the company expects to file such reports shortly thereafter. The company prefers independently prepared technical reports, but the length of time before such reports would be available has resulted in the company using its internal resources to co-ordinate the preparation of the NI 43-101-compliant technical reports. Once the technical reports produced by Micon have been filed, they will supersede the reports being co-ordinated by the company's internal geologists.
The new NI 43-101-compliant technical reports would replace the existing technical reports filed in 2009. The mineral reserves and mineral resources in the technical reports filed in 2009 should not be regarded as current, should not be relied upon and should be reviewed for historical purposes only.
In the meantime, the company is in the process of making an application to the Canadian securities regulatory authorities pursuant to National Policy 12-203 -- Cease Trade Orders for Continuous Disclosure Defaults (NP 12-203) requesting that a management cease trade order be imposed upon the directors, officers and other insiders of the company in lieu of a general cease trade order in respect of the company's continuous disclosure default. Subsequently, the company intends to satisfy the alternative information guidelines prescribed by NP 12-203 by issuing biweekly default status reports in the form of news releases so long as it remains in default of continuous disclosure requirements.
We seek Safe Harbor.......so do I.......Nova