High River Gold Mines Ltd HRIVF

severstal numbers

[topoftheridge]

First off I will admit I am confused...is HRG numbers still under "severstal"?

here are Severstal's gold production for Q3

Gold (oz tr.)

149 376**

197 936

-25%

521 242

408 406

28%

looks like a 25% decline in Q3 but a 28% increase for the 9months so far.

However the asterisks says this....

** - production for Q3 was 192 103 oz tr

Why the "decline" and why the asterisk?

[cloudrunner]

I think if you look closely, you will see gold "sales" down 25%, production is down 3%. At least that is what I am seeing... Link from Russian Reporthttps://fincake.ru/stock/investideas/7823/download/6077

[topoftheridge]

and goldsales decreased to 149 koz (down 25% QoQ). Although gold sales were down25% QoQ, actual gold production only decreased by 3% -- there is a time issueinvolved here and the difference between production and sales will be made upin 4Q11.thank you cloudrunner....

[topoftheridge]

looks to me like they are "stockpiling" gold to make Q4 look huge for the Nord gold IPO?

[missouriminer]

I agree on your reasoning for stockpiling, also IMO Severstal like most analyst expect POG to be much higher in the near future. We are liquidating some other positions in expectation that HRG SP will drop with the news of decreased gold sales and present an excellent buying opportunity. Hope everyone has some dry powder to take advantage as it will surely turn out to be an excellent Christmas for