High River Gold Mines Ltd HRIVF

RE: RE: RE: RE: RE: RE: RE: News : Default Pursuan

[tryte]

We have definitely brought this info to their attention. See my email sent to Jeff in January.

To: [e-mail]
Subject: Attn: Jeffrey Fennell. Re: High River Gold Complaint
Date: January 10, 2012 06:22 PM

• Jeff,
• Please see the email below with my questions and complaints regarding High River Gold (HRG on the TSX).
• Undisclosed Resource Estimates of High River Gold’s Irokinda and Zun-Holba Mines
• CPR Report on the Assets of Nord Gold for Burkina Faso, Guinea, Kazakhstan and the Russian Federation (see pages 413 & 442)
• https://www.nordgold.com/mer.pdf
• The preceding document shows the exploration work program for the Irokinda and Zun-Holba Mines during 2010 & 2011. The following chart is a summary of the combined estimated resources for both mines.

  	t Au	oz Au
  C2 (indicated resource)	10	32,000
  P1 (inferred resource)	96	3,072,000
  P2	61	1,952,000

  • These estimates were not disclosed to HRG shareholders. Actual production numbers have been stated for both mines on quarterly reports with no mention of these exploration numbers.
  • HRG Lends Money to Nord Gold
  • Related Party Transactions
  • “In 2011, Buryatzoloto and Berezitovy provided 6.0% and 6.25% interest bearing secured loans to affiliates of Nord Gold with the amounts outstanding as at the end of Q3 2011 being approximately US$51,4 million and US$10.4 million respectively (2010 – $7.6 million). “
  • - High River Gold Q3 report
  • High River Gold has now lent over $60 million to Nord Gold while at the same time Nord Gold/Severstal purchased more shares of HRG increasing their stake to 630,627,472 Common Shares, representing approximately 75.06% of the issued and outstanding Common Shares. Nord Gold was in possession of the exploration results for Irokinda and Zun-Holba during this period thus purchasing shares at a potentially suppressed stock price.
  • References:
  • Q2 – see page 14
  • https://www.sedar.com/GetFile.do?lang=EN&docClass=7&issuerNo=00002764&fileName=/csfsprod/data121/filings/01786321/00000001/z%3A%5CPUBLIC%5CHighRiv%5C2011%5CQ2%5CrptQ2MDA110630v1finalclean.pdf
  • Q3 – see page 14-15
  • https://www.sedar.com/GetFile.do?lang=EN&docClass=7&issuerNo=00002764&fileName=/csfsprod/data124/filings/01825746/00000001/z%3A%5CPUBLIC%5CHighRiv%5C2011%5CQ3%5CQ3MDA110930finalapprd.pdf
  • HRG Share Acquisition Press Release August 23, 2011
  • https://www.sedar.com/GetFile.do?lang=EN&docClass=8&issuerNo=00002764&fileName=/csfsprod/data121/filings/01790308/00000001/z%3A%5CPUBLIC%5CHighRiv%5C2011%5CPressReleaseEWRreOAOAug232011.pdf
  • HRG Share Acquisition Press Release August 25, 2011
  • https://www.sedar.com/GetFile.do?lang=EN&docClass=8&issuerNo=00002764&fileName=/csfsprod/data122/filings/01795532/00000001/z%3A%5CPUBLIC%5CHighRiv%5C2011%5CPressReleaseEWRAug292011.pdf