High River Gold Mines Ltd HRIVF

RE: Update on HRG from a "friend"

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The original amount borrowed from Royal Gold was US$35 million.  One would think that all of our pledged security would be released automatically over the next quarter or two (once the remaining few million gets paid), regardless of status of completion tests and everything related this neverending tast.  It`s already unreal that Royal Gold still holds us hostage like they have always done (without any forbearance at all).  At current gold price (and an extremely bright future for gold), I view the secured assets to this Royal Gold deal as being valued at $500 million minimum ($300 million Taparko, at least $100 million for the Bissa properties and $90 million for the Strategic Investments in other companies).

In my opinion, it is a pathetic joke that Royal Gold is still holding $500 million of our assets as collateral to secure a piddly $4 million in debt.  In my view, any respectable company would have released obligations on most of the secured assets a long time ago and would have provided official forbearance on the remaining assets (especially since HRG settled the second debt with Severstal ages ago, thus there have been no material secondary debt claims on the West African assets - the one court case about an extremely minor payment issue to another party should not be a show stopper to me, although Royal Gold appears to be have been using it to hold up the asset release).  If Royal Gold has already moved forward with any of this (which I doubt), I would consider this to be material news.  In such a case I would consider High River Gold`s management as having an obligation to release such information to the market.