GREY:HRIVF - Post by User
Post by
cjsellon Jul 24, 2012 8:40am
450 Views
Post# 20145499
LOCK-UP OR STICK-UP? John
LOCK-UP OR STICK-UP? John
https://johnhelmer.net/
By John Helmer, Moscow
You don’t have to be Mr Plod to suspect that Noddy isn’t playing fair.
More than half the Canadians who hold shares in High River Gold (HRG:CN), and who have resisted Alexei Mordashov’s buyout offers in the past, think he’s low-balling them again. Having driven up the share price to C$1.43, three cents over Mordashov’s latest offer price for his takeover of HRG, the sentiment in the share market is against Mordashov. Or is it?
On July 18 Nordgold (NORD:LI), which already owns about 75% of HRG, announced that it wants to buy the rest. Nordgold is listed on the London Stock Exchange; HRG on the Toronto Exchange. The former has a market capitalization of US$1.71 billion after listing in Moscow and London between December 2011 and January 2012. Since then it has lost more than 60% of its value.