High River Gold Mines Ltd HRIVF

RE: RE: RE: silver is getting hot

[prouditalian]

In March 2010, Prognoz Silver LLC, which is controlled by High River’s joint venture partner, started a legal action in Moscow to declare Prognoz Silver LLC bankrupt. The primary creditor is OJSC Buryatzoloto who is owed approximately $18 million. In order to protect its interests, Buryatzoloto also filed to put Prognoz Silver into bankruptcy. Based on Buryatzoloto’s application the court appointed an administrator to oversee the affairs of Prognoz Silver.  Under Russian law, in case of bankruptcy procedure there is material risk that the exploration rights for Prognoz will be returned to the state

initiated by the other party. Its in black and white.