High River Gold Mines Ltd HRIVF

CRU's Mexican Standoff

[cjsell]

I posted this on the CRU board. But it is newsworthy from HRG's perspective IMO

CJ


Do the math. If you read John Helmers article, I believe he did not mention Frank Giustra as it was not germane to the discussion.  The salient point IS CRU will have trouble with the Ministry in Guinea, Russia does a lot of business in Guinea....connect the dots.....ransom....extortion....who knows

Furthermore if you add the ownership of these three you get 96.69% ownership, which means the balance of the float is only 66 million shares.  Folks, please check my math!

In any event, any two of the three gets control of CRU.  BUT there are some hurdles to overcome with regard to Mr. Thiam, Guinea’s mining minister.  And apparently Crew's untalkative CEO will go to Conakry next week to try to salvage the position with Minister Thiam.

cj 

 

Ownership

(a) Ulltveit 39%
(b) Severstal 19.79%
(c) FRANK GIUSTRA  = 37.9%

a+b+c=96.69%

a+b=58.79%

a+c=76.9%

b+c=57.69%

balance of float = 3.31%