Hello Pat: I hold High River shares and have just started to buy Energizer Resources. I know these are speculative holdings. What is your opinion about Severstal’s control of High River? Also, what is vanadium’s role in future battery developments? Thank you.
High River Gold Mines, $1.11, symbol HRG on Toronto (Shares outstanding: 840.2 million; Market cap: $932.6 million; www.hrg.ca), is a gold company with interests in producing mines and advanced exploration projects in Burkina Faso and Russia.
Its two producing mines, Zun-Holba and Irokinda, are in Russia’s Lake Baikal region. Together, these mines produce about 125,000 ounces of gold a year. As well, the company has built two new open-pit gold mines, Taparko-Bouroum in Burkina Faso, and Berezitovy in Russia. High River is now bringing these mines into full production.
High River also has two advanced-exploration projects, the Bissa gold project in Burkina Faso and the Prognoz silver project in Russia.
Severstal Resources, Russia’s largest steelmaker, owns about 69% of High River. Severstal has expressed interest in eventually taking over High River. That’s a positive for High River, as it could eventually push up its share price on a takeover bid.
High River holds cash of $125.6 million, or $0.15 a share,…
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