High River Gold Mines Ltd HRIVF

Meaningless, IMO, Nord Gold NR

[production05]

It`s the same ______ (insert your own description, ``person`` doesn`t seem quite fitting to me) calling the shots, no matter what technicalities they try to highlight for regulatory purposes. Sometimes one can put lipstick on a pig, but ...........

Nord Gold N.V.

LSE : NORD

March 14, 2012 17:20 ET

Nord Gold Completes Separation from Severstal and Retains Its Stake in High River Gold Mines

AMSTERDAM, THE NETHERLANDS--(Marketwire - March 14, 2012) - Nord Gold N.V. ("Nord Gold") (LSE:NORD), a former subsidiary of OAO Severstal ("Severstal") (LSE:SVST)(RT:CHMF), announces that the separation of Nord Gold from Severstal via a Private Exchange Offers transaction (the "ExchangeTransaction") is complete. Following the Exchange Transaction, Severstal no longer has beneficial ownership or control over Nord Gold and consequently no longer has beneficial ownership or control over the 630,627,472 common shares ("Common Shares") of High River Gold Mines Ltd. ("High River"), representing approximately 75.06% of the issued and outstanding Common Shares as at the date hereof, that are held by Nord Gold.

Following the Exchange Transaction, Nord Gold has direct, as well as beneficial, ownership and control over 630,627,472 Common Shares, representing approximately 75.06% of the issued and outstanding Common Shares as at the date hereof. The Exchange Transaction was conducted in accordance with the laws of the Netherlands and the Russian Federation and the rules of the Moscow Stock Exchange and the London Stock Exchange.

The Exchange Transaction was effected to separate two businesses of Severstal and to lead Nord Gold to becoming an independent public company via a listing of Global Depositary Receipts on the London Stock Exchange. Nord Gold may in the future increase or decrease its ownership of securities of High River from time to time depending on such factors as the business and prospects of High River and future market conditions.

This press release is issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which requires a report to be filed on SEDAR (www.sedar.com) containing additional information with respect to the foregoing matters. A copy of this report may be obtained by contacting Alexey Shchedrin, Head of Financial Communications & Investor Relations, Nord Gold at [phone], [e-mail].

About Nord Gold

Nord Gold was established in 2007 as the gold producing division of Severstal and has since developed into a leading, internationally diversified gold producer, with a strategic focus on emerging markets.

Nord Gold has achieved rapid growth both organically and through acquisitions, increasing production from approximately 21 koz in 2007 to 754 koz in 2011, a CAGR of 145%. In 2011, Nord Gold produced half of its output outside Russia, highlighting the Company's increasingly global footprint.

Nord Gold now boasts a diverse portfolio of high quality producing assets. This portfolio consists of eight producing mines, two development projects, five advanced exploration projects and a broad portfolio of early exploration projects and licences. The Nord Gold's operations are located in the Russian Federation, Kazakhstan, Guinea and Burkina Faso.

Nord Gold expects to maintain its strong growth profile, with a production target of over 1 moz from its operating mines and development projects by 2013.

The address of Nord Gold is:

		Nord Gold N.V.
		Strawinskylaan 3105 Atrium
		1077 ZX Amsterdam
		The Netherlands

Forward Looking Statements

This news release contains statements that may be forward-looking statements regarding future events or the future financial performance of Nord Gold. Forward looking statements are identified by terms such as "expect," "believe," "anticipate," "estimate," "intend," "will," "could," "may" or "might", the negative of such terms, or other similar expressions. Nord Gold wishes to caution you that these statements are only predictions and that actual events or results may differ materially. Nord Gold does not intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Factors that could cause the actual results to differ materially from those contained in forward-looking statements of Nord Gold may include, among others, general economic conditions in the markets in which Nord Gold operates, the competitive environment in, and risks associated with operating in, such markets, market change in the steel and mining industries, as well as many other risks affecting Nord Gold and its operations.

Contact Information

• Nord Gold N.V.
  Alexey Shchedrin
  Head of Financial Communications & Investor Relations
  [phone]

[production05]

Does anyone know what they are saying here? Are they essentially saying that they are now forced to do this extra reporting because they got their hands caught in the cookie jar with regards to the insider reporting issues? Of course, I recognize it`s much more serious than a cookie jar. Are they also attempting to show they are complying with NI 62-103 in order to not have a

[discern1]

This is just normal reporting stuff.   Before the shares were owned by Lybica, and now this is the official reporting that Nordgold has now taken over all the HRG shares that Severstal owned.  It was just a couple of days ago that Severstal reported that the final separation from Nordgold had occured.  This is just follow up for Canadian regulations.    

[production05]

Yeah, I recognize it is normal reporting.  I was just stating that, as far as I am concerned, the following represents just a meaningless technicality to me.   ``Severstal no longer has beneficial ownership or control over Nord Gold and consequently no longer has beneficial ownership or control over the 630,627,472 common shares ("Common Shares") of High River Gold Mines Ltd.``

[Novaman67]

I just talked to Alexey the IR guy at Nord, I asked him what the plans are regarding HRG. They have several ideas that are being kicked around.   I told him we are not interested in a share swap and all we want is fair value for our shares. He said that they are aware of our concerns and the board room appears to be abuzz with ideas on what to do with us.   He's actually not a bad

[jakethesnake2]

Thank you Novaman for sharing your conversation with Alexey on the BB and for telling him how the minority shareholders feel about the share swap Regards

[Novaman67]

Thanks Jake, just trying to help.......Nova

[yakman]

So Nord wants to but us out without it costing them to much money.  We want more value for our shares.  This means we do not want a share swap based on Nords and HRG current valuations.  They are not going to offer a cash deal that would make most of us happy. If we could actually purpose a solution to Nord what would be the best for us that they would likely consider? I would be

[tryte]

I think that was a great idea to give him a call. I would suggest this is a great course of action. I have already expressed my discontent for a share swap multiple times to Alexey over email. I suggest others do the same as Nova either by phone or by email. The more folks that tell Nord they want no part of a share swap the better. Alexey Shchedrin, Head of Financial Communications and IR T

[tryte]

  In all honesty i would not be blown away if a cash offer came through. With Fridays close on Nord Gold that would put our share value at $1.42 based on HRG = half Nord. I could see them offering us $1.50. That being said, i see minorities (myself included) excepting that when hel freezes over.   Does anyone think there could be an offer including Nord shares plus cash?

[cjsell]

Mordashov owns the balance of Nord Gold, they need all the cash they have.  He is such a retard the way he treats the market, so the bankers won't help.  POG is down, and so will the revenues. Problems galore at the old Crew mine.  It would be a smart move to try and swap NORD GOLF for HRG, but it would be bad for us. Smartest move for Mordashov  would be to sell the

[1marketmaker]

"Smartest move for Mordashov  would be to sell the entire group to a real miner.  He pockets a billion, and everyone wins. " Amen brother.  

[Novaman67]

tryte, for anyone dialing from Canada you have to dial 011 first and then the number listed. Alexey also has my email address and promised to keep me updated. Long and strong......Nova

[tryte]

I think we can all agree that his goal is to sell the whole thing to another miner, but not at Nords current price. He needs to consolidate us some how before he will be able to raise Nords sp. I don't think Alexey was lying to Nova when he said all options are on the table. I'm sure they must know that a share swap will be a tough sell to HRG minorities. I would not be blown away if

[1marketmaker]

He can easily raise the value of Nord by telegraphing his sell it all plan.  He won't.  He's too stupid to see the fast money is likely the highest he will ever see. That's why I am NOT interested in a share swap. 

[tryte]

Very true.