High River Gold Mines Ltd HRIVF

Let me get this straight ...

[franzneuman]

Because the Taparko mine continues to have vibration problems, this warrants trashing HRG while it trades at $0.17?

It was said that it reflects a level of "idiotcracy" that this has not been resolved and that the management deserves to be villified. Further, that anyone else could come in and solve the problem pronto.

In the first instance, the management has changed. The COO of HRG was canned back in January. An interim COO is in place and has had two months to resolve the issue. Maybe the experts here should email or phone him to provide him with the purportedly obvious solution to this issue.

I'm no mining expert, but something tells me that a company like Severstal, which appointed the interim COO, isn't made up of a bunch of idiots who don't know how to operate a mine and resolve such issues. I'm willing to give them a bit more than 2 months to fix it.

It seems to me like they're being trashed for the misdeeds of the previous, admittedly inept, management.

There's the $30 million debt on the Taparko mine. It has reserves of 800K oz au. How much is that asset worth? Is it more or less than HRG's marktet cap of around $100M, fully diluted?

franz