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High River is an unhedged gold company with interests in producing mines and advanced exploration projects in Russia and Burkina Faso. Nord Gold N.V., a subsidiary of OAO Severstal owns approximately 72.6% of the issued and outstanding shares of High River. [Source: October, 2010 News Releases]
The High River Gold Mines Ltd. website is at www.hrg.ca.
Information Links: Yahoo News and Quotes | Yahoo Message Board | StockCharts
This report is based on NI 43-101 resource and reserve disclosures and fully diluted share counts available on 2010-10-16.
The GoldMinerPulse metrics, presented below in table format, are based on all projects and all in situ metals and are updated daily with closing market prices.
| General Metric | Value on 2012-02-03 |
|---|---|
| In Situ Metal Value per Share (MVpSh) | US$12.56 |
| Average Ore Value per Tonne | US$182.01 |
| Metal Value Leverage (MVL) | 10.06 |
| Market Capitalization as a Percentage of Metal Value | 9.9% |
| Recent Closing Stock Price | C$1.24 [note 1] |
| Fully Diluted Share Count | 886.70 M [note 2] |
| Percentage In Situ Proven + Probable Reserve | 0% |
| Percentage In Situ Measured + Indicated Resource | 66% |
| Percentage In Situ Inferred Resource | 34% |
| Metric | Value on 2012-02-03 |
|---|---|
| Gold Reserves + Resources | 4.35 M oz |
| Average Gold Ore Grade | 2.1 g/t |
| Market Capitalization per oz of Gold In Situ | US$254.32 ( C$252.59 ) |
| Gold Equivalent Ounces Estimate | 6.45 M oz |
| Market Capitalization per oz of Gold Equivalent | US$171.57 ( C$170.41 ) |
| Metric | Value on 2012-02-03 |
|---|---|
| Silver Reserves + Resources | 107.74 M oz |
| Average Silver Ore Grade | 92.4 g/t |
| Market Capitalization per oz of Silver In Situ | US$10.27 ( C$10.21 ) |
| Silver Equivalent Ounces Estimate | 331.13 M oz |
| Market Capitalization per oz of Silver Equivalent | US$3.34 ( C$3.32 ) |
Note 1: Conversion rate used: 1 Cnd$ = 1.00682 US$
Note 2: Fully diluted share count is from High River Gold, Share Structure webpage (viewed October 2010) plus the shares added with the October 2010 private placement with Nord Gold.
All metal counts in this section are based on the combined Proven + Probable reserves plus the Measured + Indicated and Inferred resources.
| Metric / Metal | Gold | Silver | Lead | Zinc | ||
|---|---|---|---|---|---|---|
| Total Counts (reserves + resources) | 4.35 M oz | 107.74 M oz | ||||
| Metal Prices in US$ (from 2012-02-03) | $1,725.90 / oz | $33.63 / oz | $1.00640 / lb | $0.96490 / lb | ||
| Metal Value per Share (MVpSh) Shown in US$. Based on fully diluted share count | $8.47 | $4.09 | $0.00 | $0.00 | ||
| Percentage of Total Metal Value | 67.46% | 32.54% | 0.00% | 0.00% | ||
| Metal Value Percentage Proven + Probable | 0% | 0% | 0% | 0% | ||
| Metal Value Percentage Measured + Indicated | 73% | 52% | 0% | 0% | ||
| Metal Value Percentage Inferred | 27% | 48% | 0% | 0% | ||
The above metal value totals derive from the following projects.
| Project | Location | Metal Value per share (% total) | Average Ore Value US$/t | Gold | Silver | Lead | Zinc | PP% | MI% | I% |
|---|---|---|---|---|---|---|---|---|---|---|
| Prognoz | Yakutia, Russia | $3.88 ( 30.9% ) | US$735.87 | 102.40 M oz | 0 | 50% | 50% | |||
| Bissa | , Burkina Faso | $3.43 ( 27.3% ) | US$100.44 | 1.76 M oz | 0 | 47% | 53% | |||
| Berezitovy | Tindinski District, Amur Oblast | $2.26 ( 18.0% ) | US$141.18 | 1.06 M oz | 5.34 M oz | 0 | 98% | 2% | ||
| Taparko-Bouroum | , Burkina Faso | $1.91 ( 15.2% ) | US$156.13 | 980.97 K oz | 0 | 91% | 9% | |||
| Zun-Holba | Buryatia, Russia | $0.65 ( 5.2% ) | US$791.40 | 334.41 K oz | 0 | 69% | 31% | |||
| Irokinda | Buryatia, Russia | $0.42 ( 3.4% ) | US$852.70 | 217.12 K oz | 0 | 77% | 23% |
PP%: percentage of metal value from Proven + Probable reserves
MI%: percentage of metal value from Measured + Indicated resources
I%: percentage of metal value from Inferred resources
Note: percentages may no add to 100% due to rounding errors
The Berezitovy property is located in the Tindinski District, Amur Oblast, 900 kilometres northwest of the Oblast capital city of Blagoveshchensk. At Berezitovy, gold is associated with polymetallic sulphides and quartz-sericite (berezite) metasomatic alteration. Locally, tourmaline, garnet and epidote are also common. The Berezitovy deposit is mined by open pit mining using excavators/shovels and diesel haul trucks. [Source: company website] viewed online October 2010.
Latest NI43-101 Report:
(0 pages).
Updates: Reserves & Resources webpage, viewed October 2010. Proven + Probable are included in Measured + Indicated.
Project Location: Tindinski District, Amur Oblast.
Average Ore Value (all estimate types): US$141.18
Measured + Indicated
| Metal | MVpSh | Contained Metal Quantity | Ore Grade | Ore Quantity |
|---|---|---|---|---|
| Gold | $2.02 | 1.04 M oz | 2.321 g/t | 14.04 M t |
| Silver | $0.20 | 5.23 M oz | 11.710 g/t | 14.04 M t |
Estimate notes:
Resource quantities adjusted for ownership percentage of 99.0%.
Inferred
| Metal | MVpSh | Contained Metal Quantity | Ore Grade | Ore Quantity |
|---|---|---|---|---|
| Gold | $0.04 | 20.92 K oz | 2.120 g/t | 310.00 K t |
| Silver | $0.00 | 104.00 K oz | 10.540 g/t | 310.00 K t |
Estimate notes: See Measured + Indicated note.
Resource quantities adjusted for ownership percentage of 99.0%.
Latest NI43-101 Report: Technical Report on Bissa Zandkom Project, Burkina Faso
2010-09 (145 pages).
Updates: Reserves & Resources webpage, viewed October 2010. Proven + Probable are included in Measured + Indicated.
Project Location: , Burkina Faso. View the Bissa gold project on a Google Map.
Average Ore Value (all estimate types): US$100.44
Measured + Indicated
| Metal | MVpSh | Contained Metal Quantity | Ore Grade | Ore Quantity |
|---|---|---|---|---|
| Gold | $1.62 | 833.61 K oz | 1.810 g/t | 15.92 M t |
Estimate notes: See Bissa-Zandkom Mineral Resource Statement on p. 12 of 145 in the NI 43-101 dated September 2010.
Resource quantities adjusted for ownership percentage of 90.0%.
Cut-off grade was 0.8 g/t to 1.1 g/t Au depending on rock type.
Inferred
| Metal | MVpSh | Contained Metal Quantity | Ore Grade | Ore Quantity |
|---|---|---|---|---|
| Gold | $1.81 | 928.58 K oz | 1.810 g/t | 17.73 M t |
Estimate notes: See Measured + Indicated note.
Resource quantities adjusted for ownership percentage of 90.0%.
Latest NI43-101 Report: NI 43-101 TECHNICAL REPORT AND AUDIT OF THE RESOURCE AND RESERVE ESTIMATES FOR THE IROKINDA GOLD MINE REPUBLIC OF BURYATIA (BURYATIA), RUSSIAN FEDERATION
2008-09-30 (127 pages).
Updates: Reserves & Resources webpage, viewed October 2010. Proven + Probable are included in Measured + Indicated.
Project Location: Buryatia, Russia. View the Irokinda gold mine on a Google Map.
Average Ore Value (all estimate types): US$852.70
Measured + Indicated
| Metal | MVpSh | Contained Metal Quantity | Ore Grade | Ore Quantity |
|---|---|---|---|---|
| Gold | $0.32 | 166.23 K oz | 15.360 g/t | 396.00 K t |
Estimate notes: Reserves & Resources webpage, viewed October 2010.
Proven + Probable are included in Measured + Indicated.
Resource quantities adjusted for ownership percentage of 85.0%.
Inferred
| Metal | MVpSh | Contained Metal Quantity | Ore Grade | Ore Quantity |
|---|---|---|---|---|
| Gold | $0.10 | 50.89 K oz | 15.390 g/t | 121.00 K t |
Estimate notes: See Summary of the Inferred Mineral Resources at the Irokinda Mine
on p. 12 of 127 in the NI 43-101 dated September 2008.
Resource quantities adjusted for ownership percentage of 85.0%.
Latest NI43-101 Report: NI 43-101 TECHNICAL REPORT AND RESOURCE ESTIMATE ON THE PROGNOZ SILVER PROJECT REPUBLIC OF SAKHA (YAKUTIA), RUSSIAN FEDERATION
2008-06-27 (215 pages).
Updates: Reserves & Resources webpage, viewed October 2010. Proven + Probable are included in Measured + Indicated.
Project Location: Yakutia, Russia. View the Prognoz silver project on a Google Map.
Average Ore Value (all estimate types): US$735.87
Measured + Indicated
| Metal | MVpSh | Contained Metal Quantity | Ore Grade | Ore Quantity |
|---|---|---|---|---|
| Silver | $1.93 | 50.81 M oz | 704.000 g/t | 4.49 M t |
Estimate notes: Reserves & Resources webpage, viewed October 2010.
Proven + Probable are included in Measured + Indicated.
Resource quantities adjusted for ownership percentage of 50.0%.
100 g/t silver cut-off
Inferred
| Metal | MVpSh | Contained Metal Quantity | Ore Grade | Ore Quantity |
|---|---|---|---|---|
| Silver | $1.96 | 51.59 M oz | 659.000 g/t | 4.87 M t |
Estimate notes: See notes for Indicated.
Resource quantities adjusted for ownership percentage of 50.0%.
Latest NI43-101 Report: Taparko-Bouroum Gold Mine Independent Technical Report Burkina Faso
2008-03-31 (170 pages).
Updates: Reserves & Resources webpage, viewed October 2010. Proven + Probable are included in Measured + Indicated.
Project Location: , Burkina Faso. View the Taparko-Bouroum gold mine on a Google Map.
Average Ore Value (all estimate types): US$156.13
Measured + Indicated
| Metal | MVpSh | Contained Metal Quantity | Ore Grade | Ore Quantity |
|---|---|---|---|---|
| Gold | $1.73 | 889.52 K oz | 2.810 g/t | 10.94 M t |
Estimate notes: Reserves & Resources webpage, viewed October 2010.
Proven + Probable are included in Measured + Indicated.
Resource quantities adjusted for ownership percentage of 90.0%.
Inferred
| Metal | MVpSh | Contained Metal Quantity | Ore Grade | Ore Quantity |
|---|---|---|---|---|
| Gold | $0.18 | 91.45 K oz | 2.850 g/t | 1.11 M t |
Estimate notes: See noted for Taparko Measured + Indicated.
Resource quantities adjusted for ownership percentage of 90.0%.
Latest NI43-101 Report: NI 43-101 TECHNICAL REPORT AND AUDIT OF THE RESOURCE AND RESERVE ESTIMATES FOR THE ZUN-HOLBA GOLD MINE REPUBLIC OF BURYATIA (BURYATIA), RUSSIAN FEDERATION
2008-10-10 (153 pages).
Updates: Reserves & Resources webpage, viewed October 2010. Proven + Probable are included in Measured + Indicated.
Project Location: Buryatia, Russia. View the Zun-Holba gold mine on a Google Map.
Average Ore Value (all estimate types): US$791.40
Measured + Indicated
| Metal | MVpSh | Contained Metal Quantity | Ore Grade | Ore Quantity |
|---|---|---|---|---|
| Gold | $0.45 | 232.10 K oz | 14.900 g/t | 570.00 K t |
Estimate notes: Reserves & Resources webpage, viewed October 2010.
Proven + Probable are included in Measured + Indicated.
Resource quantities adjusted for ownership percentage of 85.0%.
Inferred
| Metal | MVpSh | Contained Metal Quantity | Ore Grade | Ore Quantity |
|---|---|---|---|---|
| Gold | $0.20 | 102.32 K oz | 13.000 g/t | 288.00 K t |
Estimate notes: Reserves & Resources webpage, viewed October 2010.
Proven + Probable are included in Measured + Indicated.
Resource quantities adjusted for ownership percentage of 85.0%.
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