GREY:HRIVF - Post by User
Post by
ccharlwoodon Jul 28, 2009 1:10pm
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Post# 16172178
Good news! - New offer. What to do?
Good news! - New offer. What to do?As stated in my previous post, we have gathered the majority of the minority (more than 160M shares) to not tender against the $.22 offer. As National Currency pointed out, due to summer holidays, there are many that did not send in the reject letter, so the actual numbers that will not tender are likley higher. I do not see $.30 making any difference. If we all stick to what we signed in the 'Reject Severstal Offer' letter, then this higher bid will not succeed either for Severstal.
The good news with today's HRG press release is that it looks as though Severstal is giving up after August 10. Thereafter, it will only make sense for them to realize on their investment in HRG and start running this business for maximum value to ALL shareholders. If they do in fact take on this new direction, then we will all be aligned in our motivations. There is no reason this stock can not get $1-3 range that many of us think it should be. Q2 profit and cashflow will be stronger than Q1, debt is reducing and gold production increasing. Also, looks like gold price ready to rise.
What to do in reaction to this new number?
If you have already signed the letter and sent to me, then do nothing. You have stated your tender price - stick to it. If you have not already faxed me your letter, change the price that you are rejecting of $.22 to $.30 and put in your tender price, sign and fax to me. 604-718-2638 or rainerc7@gmail.com .
DO NOT FAX ME A NEW LETTER IF YOU HAVE ALREADY SENT ONE. THANKS.