High River Gold Mines Ltd HRIVF

repost

[prouditalian]

Uralsib Bank

Severstal Gold’s Core Asset

No growth prospects – initiation of coverage. With no expectations of further significant improvements in the company’s current operations and a lack of production growth, which is the biggest advantage of Russian gold miners, we do not see the company as an attractive investment.

 



Hold on lack of growth drivers. Using the NAV approach, we calculate High River’s value at $1.2 bln (while our NAV estimate for Severstal Gold’s total assets is $3.1 bln), which implies a target price of $1.4/share and 12% upside potential. In our view, apart from the rising gold price, the name has no real growth drivers and is fairly valued by the market. We initiate our coverage of High River Gold with a Hold recommendation.

[adammacc]

So with this report saying. "Using the NAV approach, we calculate High River’s value at $1.2 bln" Which would make hrg worth $1.50     $.26 higher then it is now. Don't you think you should pick up some HRG now?