High River Gold Mines Ltd HRIVF

Dont count on Severstal being successful

[prouditalian]

in the ipo plans for the Gold unit. IMO, there is a really good chance they wont get the demand.  Everyone assumes this ipo will fly but at the valuations they are proposing, it doesnt look cheap, especially since the old Russian mines may run out of gold as soon as 2011. This is still the problem with HRG, the old mines. They promised to spend 20 mil to expand this year and I havent seen that anywhere. Maybe in this Q numbers we will see some spending but this will affect the quarter's net income.
I am glad i am out of HRG at the moment and looking to get back in at 1.00 when ipo fails. Just my opinion.