GREY:HRIVF - Post by User
Comment by
metalmaniakon Mar 11, 2010 1:45am
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Post# 16869218
RE: RE: RE: blast off
RE: RE: RE: blast offcj, you have it all wrong. Troika bought the shares for Severstal, in other words the private placement was to themselves. They could not do it officially as not allowed under TSX rules. So in reality Severstal owns 70% of HRG not 50%. If you dont think Severstal owns other shares on top of this in private accounts you are as well naive. Troika was bidding a lot of Canadian brokers for shares according to some Canadian traders I know. Severstal likely owns close to 80% of all shares outstanding already.
As for share price, likely will trade in a range until the q4 #s are released. I have been adding under .70 and even a bit under .60 on te dip and actually bought some yesterday above .70 for the first time ever.
My feeling is in one year with gold between 1200- 1500 , HRG will be trading near 2 dollars.
As well once Severstal Gold is public, they can make a decent takeout offer to minorities using the Seeverstal Gold shares.