High River Gold Mines Ltd HRIVF

Severstal Gold IPO Presentation

[cjsell]

I found it! Here it is site https://www.forum.denpanas.ru/index.php?action=dlattach;topic=4.0;attach=1738.

I URGE everyone to look at the presentation. It states FY 2010 gold production = 640K - 670K of production, therefore we know HRG is almost 1/2 of the production.

Happy reading!

CJ

[Novaman67]

Thanks cjsell, excellent info and read.........NM67GLTA Longs

[ThyFish]

I still don't like the numbers being thrown around here.  If the IPO is valued at around 3.5 Billion and HRG represents 50% of production that would give us a valuation of 1.75 billion.  Divide that by 799 mil shares and HRG would be valued at approx $2.18.  Don't we think the valuation should be more?  With proper exploration and feasibility on Prognoz you

[prouditalian]

you may not like them, but they are analyst estimates and not severstal's. I think 2 dollars is fair value for HRG personally as you must discount the old Russian mines until they can prove that they can produce beyong 2011 which they haven't done. I think Olma's target was 1.92, so consistent with their analysis. Id take 2 bucks in a heartbeat.

[Novaman67]

Proud, as usual you are the modicum of reasonable thought on this board. It's nice to read some rational analysis and opinion. Along with cjsell, production05, Bart, et al. I much appreciate all your comments, analysis and opinions.....NM67

[ThyFish]

Proud, I agree with you 100% that as of right now that $1.92 is a fair valuation.  There are a lot of uncertainties surrounding mine life, Prognoz and Severstals intentions.  I was definitely illustrating some positive forward thinking, I believe Prognoz will move in our favor and I also believe that the drilling results that haven't been released will

[Novaman67]

Thyfish, I don't think $3 is far fetched, I believe the P/E ratio should be in the range of other gold producers (and non producers), ie. 24X or so. Undervalued in my opinion, but the Russian influence is weighing on this stock I believe........NM67