High River Gold Mines Ltd HRIVF

prognoz

[tryte]

looks like they are trying to cross all their "t"'s and dot all their "i's". They are admitting that the potential for Prognoz is not built into the offer price.

 

 

The Valuation in respect of the Shares reflects only information that was in High River’s

possession. Accordingly, if there have been significant increases in mineral resources at

the Prognoz Silver Project, such mineral resources are not reflected in the Valuation.

[1marketmaker]

Paradigm listed resources as the following     Indicated 4,490 704 101,627 Inferred 4,870 659 103,182  However Polar Silver (the other 50% owner) lists resources as the following.  in July 2009, estimated an indicated resource of 5.86 million tonnes of ore grading 773 g/t silver containing 146 million ounces silver and inferred resources of 9.64 million tonnes of ore grading

[1marketmaker]

Paradigm continues "(iii) Prognoz valuation based on book value for low estimates and comparable company analysis for high estimates; "   So on the low end, they give ZERO, and on the high end, they take the Bull that HRG provides.  Nice and fair...NOT.

[1marketmaker]

Where did you read that?

[tryte]

Page 4 of the HRG circular posted on SEDAR

[ThyFish]

Some great conversation points by all and I think MM illustrates my level of disgust for the Russian majority shareholder as well as the market that allows this to take place.  I am a hybrid of MM and Tryte's speculation as to what happens.  I think that Severstal raises the offer a couple of times to try and get as many shares as possible.  I also think that Alexi does

[tryte]

Thy,  A follow up to my comments regarding Nord only requiring the majority of minority. Once this offer expires, if Nord then controls more than 90% of HRG shares, they are required by Canadian law to acquire the remaining shares via a compulsary acquisition. I am quite certain we don't have to worry about this scenerio.   However, if after the expiry date of the current offer Nord