High River Gold Mines Ltd HRIVF

IMO, total BS

[production05]

IMO, they didn't want to show the $20M in Q2 Net Income.  It's unreal that they are able to get away with writing down $58.6M of Prognoz's value without even performing a feasibility study, especially when the property is recognized as having one of the highest silver resource and one of the highest silver grade of undeveloped properties in the world right now.  And, silver is trading at $15 an ounce and expected to realize huge increases in the future.

It smells like black market business, and pathetic accounting, in my view.  

IMO, clearly, they are attempting to drive the price down for a cheap Severstal dilution or another cheap Severstal takeover offer attempt.  It's interesting how they recently switched the CFO.

[uncoverer]

Novel creative accounting by the new CFO ?.Who appointed him ?Hmmmm - huge write down of Prognoz ?? as Prod 05 says without any feasibility write down assessment !!  / currency exchange loss issues ??  - sig.cost increase in one qtr of per gold ounce produced.Methinks we have a clearer idea why the old ist qtr profitability CFO was replaced ?HRG / Severstal positions