High River Gold Mines Ltd HRIVF

The market clearly does not like deal

[metalmaniak]

and CIBC just downgraded to market underperform today.
I am very happy that they got the 50% of Prognoz at 1.50 as they payed less that .70 an OZ which is insane.
I am happy that Alfa is in at 1.79 for 1a and 1b, although a bit heavy on dilution.
I think Alfa can bring safety to Prognoz asset which is a monster.
I will vote no for tranche 2.
This just proves management is
1. Incompetant in lookiing after shareholder value
2.made a deal with Alfa to keep their jobs and options.
This is a ridiculous deal and is extremely dilutive to us as shareholders.
Cooper of CIBC wrote that it takes away our upside from the 2 new mines completely. I agree.
With the first tranche, we have a strong Russian hand, and cash to finance Prognoz.
We dont need more cash. We have more that enough as well as the Pelangio stake worth 70 mil plus dollars.
Vote NO.  The market is telling us to do so very clearly.
BTW, the stock just hit a 2 year low at 1.32.  Mosher and Whalen should be proud.