High River Gold Mines Ltd HRIVF

RE: WHAT ! Severstal Increases Cash Offer for High

[uncoverer]

Again, hold your noses on this one.Severstal seems to have been backed into a corner based on a solidarity of action by minority shareholders.

This latest Severstal response is just a further mis-step by them in an apparent strategy that continues to grossly underestimate HRG's true value and ingnores the princilpes of justice and fairness to all shareholders ( you're an HRG OWNER too).
 
Forget about our significant producing properties for a moment.The 30c offer would not even equate to 1/2 of the present value of the reserves contained within our major Bissa gold discovery in Burkina Faso and it's continuing growing size !. Go ahead and ask knowledgeable industry types just about the value of this and as yet non producing asset.

Unfortunately, this Severstal communication was one more time insensitively phrased to include the same drivel and subtle threats in final wording.

Hang tough and be patient.This is more of a process that minority shareholders absolutely need to remain together on and go through to arrive at our just and final destination.

The latest communicae certainly seems to reflect that Severstal has misjudged again and is very likely wounded as a result.The marketplace is full of opportunists / acquirers under such circumstances ( as another possible scenario ) regardless of what % they hold.