High River Gold Mines Ltd HRIVF

Wacky earnings for gold companies

[cjsell]

I am sure the folks at Severstal are burning the midnight oil trying to figure out how to keep a lid on the stock price. Interesting to note how the Q3 numbers for gold companies are all over the place. Kinross a loss, Yamama a loss, Barrick (whopping loss due to hedges), Agnico Eagle loss, Eldordao up, IAMGOLD up.....and the big question is how can HRG not have an outstanding quarter?????

Remember John Helmers article concerning Severstal's debt covenants precluded them from extra capex spending, and this may give merit to the Chinese suitor reference in his latest exposé of Severstal’s problems.  They have more debt coming due, their financing will be undoubtedly cost more  due to the downturn in their steel business.  Speaking of which the only bright light in Severstal’s Q3 numbers was gold, and these big numbers were provided by HRG.

So if Severstal wants/needs to divest their gold holdings would they not have to make a real offer to HRG minority shareholders?  Also any bets on HRG Q3 earnings?  I bet at least a penny profit and free cash of another 30 million in Q3.

CJ