RE: RE: OSCOWN:
My past experience tends to agree with you, but perhaps foolishly, i tend to believe that if you play chess, looking ahead to your opponent suffering if they do not respond to your gambit, can give you the best leverage. Mr. Duncan will have been the man in charge of an organization that could have protected the rights of Canadian, Ontario minority shareholders, but allowed a department under his care and control to abdicate there their duties, and just sit and wait to see what happens. Already, our rights have been minimized/jeopardized when Seversal had HRG financials before anyone else.
Severstal played their hand in my opinion when they said (thanx Scluri 6/1/09):
Quotations HRG at stock exchangeof Toronto made on May, 19th 0,16 Canadian dollars, however after awhile have grown to 0,23 Canadian dollars. Growth of actions alsobecame the reason of publication of the message on the possiblerepayment. "The Severstal" position rigid as the company is not goingto overpay speculative for papers because of a rise in prices, tellsRBC source daily, close to the company. (underline & italics -mine) (speculative ???-- wasn't there something about Warrants for $0.62-64 in the distant past??) (Foolish me, I''ve only considered a warrant purchase when I expected the share price to be greater than the warrant price!)
'Repayment' (???????) when offering to purchase (???????) shares is an extremely unusual wording to use, especially when given the usage of the word 'overpay' (???????????) almost immediately afterward. ) Who is the translator!) (Oops, sorry Vladmere- the vodka got my tongue--didn't know what I was saying!!)
One could write-off this wording as just 'poor translation', but if you exam the intent of the wording (not just the translation), Severstal appears to take the position the the minority shareholders have 'loaned' the money the shares represent. Their whole mindset would appear to be revealled in the 'Freudian slip' of the translation. (Not sure, but even in Russian they appear to recognize verbally the difference between 'repay" and 'purchase' - & 'OVERPAY" (-oops - let's blame the translator again!!) Further they insist that they have not purchased/sold shares since August 08 (exactly what was it what happened in October/November 08?)
Mr. Duncan, if he is a representative of shareholders of Ontario (on whose stock exchange HRG (HUGE RIPP-OFF GUARANTEED?) is listed, and to whose attention this sham of minority shareholder's rights protection should be brought, does not act, his effectiveness/ fudiciary duty as a parlimentarian of the people can forever be questioned.
I work everyday for my employer, and I can asure you, he would not stand for me letting something like this fester into a class action suit (CAS) without serious repercusions. And even more so if I had been forwarned. Prod'05 has done some fantastic #'s work as to what we should be able to expect if everything was above board (sorry - apparently not HRG's board). Perhaps if the OSC looked at Prod'05 #'s they would see what is happening - any graphic overlay of HRG to Prod's ID'd companies shows that HRG DIED shortly after Severstal had access to the BoD..
PS: Have tried to bring to the attention of BNN & Rob McEwen our situation
PPS: am crackerjax 50K
PPPS: just out of sheer curiosity, what time zone are you in?