High River Gold Mines Ltd HRIVF

IMO, Prognoz, Hwy Robbery - take a look

[production05]

Remember when the CEO (Mosher) and Chairman (Whalen) tried to walk off with Prognoz, by moving it into a shell company, which they were significant shareholders of? The rumour I heard was it was only terminated because the funds threatened to sue the pants off each director on HRG's BoD at the time.

Similarly, IMO, the funds need to go directly after each of the HRG's current BoD members. IMO, what they are getting away with, especially with Prognoz, is unimaginable. It might not be officially criminal, but in my own mind it is almost criminal - it certainly a serious lack of fudiciary shareholder duties, IMO.

I have found a completely independent analysis / comparison, performed by Silverseek.com, which demonstrates that Prognoz is the most incredible undeveloped silver project in the world.

The analysis was performed in 2007of the 20 top undeveloped silver projects in the world, but those are the same top projects that exist today.

It only shows 53M total ounces for Prognoz, but as we now, Prognoz has since been updated to 205M silver ounces. Pay special attention to the oz/t grade column. It shows 28 oz/t (with the latest 205M ounces, it might have decreased slightly to about 25 oz/t, but still incredible). The next best silver project only has 6.6 oz/t (of the top 20 undeveloped silver projects in the world).

Annual production estimate shows about 9M ounces per year for Prognoz, which is good, but it will likely increase to 15 - 20M ounces per year by the time production starts (as there will likely be at least 400M+ 43-101 ounces by then).

Remember, this comparison was not prepared by me or another minority shareholder. It was prepared by a completely independent source. The independent source was not compensated in anyway from any minority shareholder.

The report shows that Prognoz is in a class by itself. No other undeveloped silver project is even in the same stratosphere when it comes to oz/t grade. We are talking incredibly low operating cost of production here - certainly top tier in the world once in production. Who on earth would write down such an amazing asset, especially without a feasibility study to confirm everything (either way). And, especially since minority shareholders have spend their hard earn dollars over the years to establish (this incredible asset) the world's most amazing undeveloped silver asset - an asset where exploration efforts have only begun on 2 of 32 mineralized veins so far (we have only scratched the surface so far).

IMO, writing down this asset at this time is completely unbelievable. We are looking at a silver revenue price of $18 per oz and potentially as cash cost per oz that may be in the $2 - $4 per oz range. To write this down without even performing studies to determine the economies of such an amazing project (with silver prices near all time highs) is unreal. The funds should go after these guys.

Here is the link to the report:

https://news.silverseek.com/SilverSeek/1172041200.php

[uncoverer]

Okay then enough with the words.Let's be proactive again like we were before.How do we mobilize as a team to countervail this possible Severstal financing through more dilution including getting some clarification on the validity of the Prognoz write down.Let's not get caught into whining after the fact.

[prouditalian]

yea, only one reason for the writedown. they will sell this thing to their friends. Prognoz is a goner in my opinion.

[uncoverer]

This as a minimum is a fact.Severstal MUST legally operate in the best interests of even minority shareholders.That said, the matters in question need to see the light.Who cares ?

[Power1]

So I'll assume you have read the financial statements:Severstal Exercises Significant Control Over the CompanySeverstal, through its affiliates, currently owns 61.7% of the outstanding shares of the Company and may acquire additional shares, including upon the exercise of warrants. In addition, three of the Company’s current directors are nominees of Severstal and its Chief Executive Officer

[Kee000]

The bastards should be taken out and shot for there greed. Patton had it right. Just can,t stand people like that --polly

[prouditalian]

Simple, we have rights and hav to fight for them. I wasnt a shareholder when shareholders fought against the greed of Mosher and Whalen. But I was when we fought Severstal in the takeout and we won. Just may have to do it again. I am not worried.

[drichard53]

where in the financial statements is that quoted from? could you point us?, please

[espressostretto]

It's in the Management Discussion & Analysis.  All part of the same pdf file on the HRG website, but in two separate pdf files in SEDAR.

[Olderwisernow]

How much do I agree with you? 100% - I have recently, and for a very long time previously said: Prognoz is the hidden gem, DO NOT BE FOOLED, and do not believe posts where they try and put value down.They are going to "steel" it, along with the rest. Anyone who examines Prognoz will see that. ALL the nonsense about not being able to build infrastructure is just that. They KNOW very well