High River Gold Mines Ltd HRIVF

RE: RE: RE: RE: Putin bats for Gold (and by proxy,

[Power1]

I did a flyby of SMF financials to put to rest their ability to purchase taparko (in my own mind).  HRG's working capital ratio is about .8:1.   Not a ratio lenders like for sure but destined for improvement if we can get the RGI facility out.  I'd be more inclined to think severstal could take out semafo vs them taking taparko.  We have $55 million invested in Bissa with multi million oz potential, J.V with GOD....I jsut can't see them putting taparko on the block.  SMF would have a hard time pulling together what I estimate to be $100 million

If we can evenly push the debt out over the next three years and get those mines stable Ithink we're destined for .80.

Alternatively, if we can squeeze $50 million out of prognoz (yes I know older, this is one we don't agree on) then we're off to the races!