High River Gold Mines Ltd HRIVF

Why is the stock price so low compared to

[fortun8]

the revenues,profit and from what i am reading also great production cost.....so why is it trading at these bargain prices?....what am i missing?

[cjsell]

HRG is only "great" if you were in over a year ago.  POG has come off, call it 15% less on the revenue side, the open pit mines depend on diesel, and that is probably a big expense item and oil is up 30%. You do the math,  NORD GOLF plays fast a loose and HRG only complys when they must, otherwise it's FU to its shareholders. Speaking of FU money they take "

[1marketmaker]

CJ from MD&A   Administrative Costs Administrative costs increased to $7.4 million in 2011 compared to $4.5 million in 2010.  Do your research before throwing out "probably 30-40 million".  Their are less than 20% of your high end.  And, considering we have no back office, I'm not sure if that is high at all.  

[cjsell]

$24 million in intercompany loans plus $7 million in "fees" = $31 million in CASH HRG no longer has, or perhaps will ever see again.  They will contune to strip out cash, hollowing out HRG and BINGO cash goes to Mordashov.  So with the 24 million, he has recooped his initial investment into HRG.  Who knows how else these guys operate, they can get away with what ever they

[1marketmaker]

Yes I agree the market for juniors is low.  But that will change with increases in profits and with Bissa.  Furthermore, the $24 million in loans is just that.  A loan.  It means that they are borrowing funds to no doubt acquire more shares , which they did with those loans.  At the end of the day, we will become a pain to them, or we will become a massive pain to them

[cjsell]

It's been a slice, and I do hope the longs win out, and Mordy gets crabs.   CJ