GREY:HRIVF - Post by User
Comment by
cjsellon Feb 01, 2011 8:40am
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Post# 18053708
RE: Great
RE: GreatI totally agree with your post. In fact all other gold holdings of Nordgold are just noise. It will take huge capex to get Crew Gold working. The only diamond in the whole bunch is HRG, and we are worth north of $3.00
We know HRG produced ~90K oz in Q4, not sure if that is net or gross. In any event we should be looking at .05 to .07 a share for Q4.
How ironic that Mordashov is getting a taste of his own medicine. What will he do if the IPO fails? I am not worried about HRG in the least, inflation is just around the corner, food prices are going up, energy is going up, US debt just gets worse etc etc etc.
If the Nordgold IPO does fail, how will he repay the loans? He is caught in a liquidity trap. He may decide to outright sell if tha banks pressure him and his steel business sees more red ink.
I totally agree with John Helmer, shame! Shame on Severstal for not promoting their assets and working with all parties, as that old saying goes, "you reap what you sow".
Remember, Severstal and their designates read our postings...too funny!
CJ