High River Gold Mines Ltd HRIVF

RE: Severstal Increases Cash Offer for High River

[A4262]

  If Severstal was serious about making a full offer it would have been Book Value of 75 cents a long time ago.
  This business of  a premium on  a volume weighted average price is a bunch of &^*%$#(@#  !!

  How can a company ( in their mind) make a legitimate offer of 18 cents, then increase it to 22 cents then
  increase it  to  30 cents, without the shareholders thinking, What kind of a bull..... offer was the original offer
  and what is a reasonable established value per share.

  Shareholders could at least justify selling for book value at 75 cents. 

  I think it is time the TSX watchdogs should be looking more closely at this offer since it is obvious that Severstal
  has not been able to establish a price that is fair to shareholders.