High River Gold Mines Ltd HRIVF

Prognoz

[SergeBrunet]

This actually sounds like good news...
With 18M$ to collect, there are good chances that they might negotiate to increase ownership in exchange for debt extinguishment.
With >50% ownership comes control and a potential restart of exploration activities.
Oh... it would probably be reinstated as an asset too!
We should get an update prior to year end...

SB

[NaturalCurrency]

Sounds positive to me as well. If Noddy wants this have an impact on the IPO, he will have to pull some strings to get a resolution faster (the current timeline per NR is ~ seven months, and the IPO most likel will happen in Q3 or Q4 of this year).  

[Critical_Mass]

Definitly great news.  Worst case we get 18m dollars out of this. Best case we get the other half of prognoz for firesale prices in bankruptcy proceedings. I'm not sure how Russian Bankruptcy proceedings work, but they will likely put the other 50% of prognoz up for sale to cover their debts.  We can negotiate with the other owner and agree to some sort of arrangement as we are

[production05]

Looking back now, it seems all the more likely the writedown of Prognoz was aimed mainly at increasing our chances of attaining the other half of this asset at a firesale written down price.I have a completely different view of the situation.  I believe Severstal was in full skrew HRG minority shareholder mode when they wrote down Prognoz, and subsequently resulting

[production05]

Someone shared with me who might be involved with the other 50% of Prognoz (via private message).  I have absolutely no way of validating if it`s true but it makes perfect sense given what took place in the past with Prognoz.  However, if it is true then I take back being sorry for the other 50% owners of Prognoz.  In such a scenario, the bankruptcy situation would be

[rpakelsh]

well this could be the first time the russian slimeballs actually used there tactics to benefit hrg minorities ----------Original Message Posted 6/8/2010 5:52:01 PM---------- Someone shared with me who might be involved with the other 50% of Prognoz (via private message).  I have absolutely no way of validating if it`s true but it makes perfect sense given what took place in the past with

[bart_dc]

https://www.istockanalyst.com/article/viewiStockNews/articleid/2855568 this press release at the end of 2008 was probably the issue that led to the 'battle' for the whole of Prognoz that started with the court appeal and now the bankruptcy proceedings. HRG wanted the whole of Prognoz but couldn't buy it and now they want a 'better price'. Good for us as shareholders!

[Gbug1]

I have heard the Prognoz story in the following interpretation:Buryatzoloto identified Prognoz as an attractive deposit and started preparation for an auction. At the last moment, it decided not to participate and an auction was won by a group of individuals for $12 m.  Soon after that, this group of individuals had resold 50% of Prognoz to Buryatzolo for $30 m and retained

[prouditalian]

in other words, the old management of Mosher, Whalen, Dmitriev and Balabanov bought it themselves for 12 mil and flipped it to HRG for 30 mil pocketing 18 mil then kept 50% for free.  Criminals should be in jail. Hope Severstal crucifies them. The thing I dont understand is how investors kept giving them money when shiit like this was going on?

[Alex_27]

Interesting question Proud, but I know the answer. They didn't. Once the whole story became obvious with public disclosure of Prognoz spin-off into Ruscan where the mentioned individuals were main shareholders, the invetors cut the financing and changed the board of directors. I think Prognoz contributed a lot to HRG collapse in 2008. Not only the cash necessary to repair the new mines was

[checkson]

i do not understand why you do not write all information and keep a lot of your thoughts for yourself as they are worthwhile and shed light on eventually not spotted ground. i.e. alex, please give your answer on your question. seeing proud after his, IMO good sell and smart decision to pay down his dept, still being active on this board shows passion and deserves more than such a plain

[bart_dc]

Dear Checkson,why wouldn't you be a buyer right now?If you don't own it yet, I would buy. If you already hold some, you can wait a while longer.Having no position is kind of dangerous if you are convinced of the following:"we all know we have a porsche in the garage priced as a proton."Someone might buy the Porsche at fire sale price and you might have to buy it at

[checkson]

Hi Bart,because I think with the Troika deal we built a floor (and sadly a cap) and until the next quarterly results I personally doubt a big change will happen. So the stairs from the floor are for me the next facts to come with the next quarter or the annual meeting. The FTSE gold index inclusion will perhaps change the sp., but I am not certain that the impact will be significant and if it will