High River Gold Mines Ltd HRIVF

RE: Russian Perception

[shortUSA2]

The logical thing to have done with the strategic review was to split HRG into two companies.  One Russian, one African.  Instead they came up with the prognoz spin out idea.  Even with prognoz gone this is still more than a 50% play on the Russian assets so I doubt the perception will change on HRG.   The African assets would be a prime takeover target but the failure to separate them from the Russian assets has made us unacquirable.  Its a premium we could have had, but don't.  Just one more way the management failed to enhance shareholder value.