High River Gold Mines Ltd HRIVF

Prognoz Silver is very advanced

[TheRock07]

Extensive drilling and trenching has been conducted on the Prognoz property.

During 2006 and 2007, High River's 85%-owned Russian subsidiary, OJSC Buryatzoloto ("Buryatzoloto"), drilled over 650 core holes (over 59,500 metres), completed 4 adits for a total of 187 metres and extracted a 17 tonne bulk sample for metallurgical testwork.

Historical work consisted of 89 diamond drill holes (17,805 metres) and 317 trenches (17,756 metres ).

The 43-101 estimate is 203 million oz of silver at about 700 gms/ton.
This is for the two main veins.
When the other veins are included, the potential upside is 370 million oz at an average grade of 775 gms/ton.

HRG is likley to move upward  in step functions.
Being aboard is critical.

[tom_abc2003]

I think this can be second largest silver mine in the world,  Hrg own 50% on this mine.

[PayDaySomeday]

Isn't Prognoz going into bankruptcy ?Is there risk HRC could lose its 50% stake? or are these more Russian games?

[bart_dc]

PayDay,one of the 2 bankruptcy proceedings is already been dropped.I heard from someone who is in contact with John Helmer that both High River (via Severstal) and the other JV partner are powerfull groups and no one can get away with 100% of the project so they will work something out.WHEN, not IF, they reach an agreement this stock will pop to 2+.

[tom_abc2003]

There is risk always, but at the present it own 50% the world second largest sliver mine.   It maybe better if Prognoz go bankrupt and HRG will buy out the remainder of 50%.    It is not problem with HRG, it is their partner.   But anyway I don't think HRG will lose 50% in Prognoz.    HRG have a lot cash reserve and a lot cash flow in the future.   Gold and