High River Gold Mines Ltd HRIVF

Look back at the Celtic examples

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IMO, if Severstal had already secured letters of intent (with minority HRG shareholders) to support the offer then Severstal would not have hesitated to brag about it within the NR.  This is from one of their Celtic takeover NRs:  

"The Severstal Group currently holds 29.7% of Celtic’s issued share capital, including 3.1% acquired from DWS Investments today and has further secured a letter of intent to support its offer from Barrick Gold Corporation for its 6.6% shareholding in Celtic"

You telling me that if Severstal had support from high profile Sprott Asset Management they wouldn't be flashing it just like they did with support they got from high profile Barrick Gold in the Celtic situation???  My guess is that Barrick left early as Celtic was small potatoes to them, and they usually have way bigger fish to fry and focus on.  I think Severstal has miscalculated with HRG.  There are no longer any Barrick types invested in HRG, and there are very few large institutions remaining.  Also, the remaining ones carry major losses right now, with the share price falling from $3.50 to $.215.

Also, does this sound familiar?:

"Mr Peter Hannen chairman of Celtic said that 'Severstal is trying to buy Celtic cheaply through this opportunistic and unsolicited offer. We expect record production levels for the Company in 2007 with substantial increases in 2008, against a background of a sustained rise in the price of gold.'”