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Tuesday, 16th December 2008 (1277 views)

The second of High River Gold's default status reports has been published.

Having failed to disclose its financial results for the three and nine month periods ending in September, the company is required to provide a bi-weekly report.

The delay came due to concerns that financial information from OJSC Buryatzoloto, a subsidiary 85 per cent owned by High River, would not be reliable.

In the report, the firm noted that there have been no changes since the first report was published two weeks ago that have not been generally disclosed.

"High River continues to anticipate that the interim financial statements will be filed prior to December 31st and will continue to provide bi-weekly updates until the interim financial statements have been filed," it concluded.

The company recently began production at its Berezitovy site in Russia, having been producing gold at its Taparko-Bouroum mine in Burkina Faso since October last year.

 

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