High River Gold Mines Ltd HRIVF

Taparko's production is coming along

[production05]

Taparko's production - 100%:

Q1'09 - 22,406

Q2'09 - 20,139

Q3'09 - 25,000 approx. (per Royal Gold)


Taparko's production - 90% attributable to HRG:

Q1'09 - 20,167

Q2'09 - 18,125

Q3'09 - 22,500 approx.


It means approx. 4,375 more attributable ounces at Taparko in Q3.  That likely means an additional C$2.5M in operating profits from those additional Taparko ounces alone.

Furthermore, the gold price increased to about US$960 in Q3 from US$924 in Q2 (as a side note, Q4's average gold price will likely end up in the US$1,070 ballpark, and we are almost halfway through Q4).  It means that the initial 18,125 attributable Taparko ounces should have generated C$2.6M more in Q3 operating profits just strictly from the gold price increase alone (HRG is 100% unhedged with regards to gold sales of production ounces).

To summarize, the data is strongly suggesting that Taparko alone should have contributed over C$5.0M in operating profits and cash flow in Q3, incremental to performance in Q2.

We'll see if Severstal / Severiver management  found another sneaky way to mask the High River and Taparko performances in Q3.