High River Gold Mines Ltd HRIVF

RE: RE: RE: RE: Severstal complains to the OSC too

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``....Severstal......complained.....this is against the spirit of takeover rules.``

WOW!!!

That is unreal.  Honestly.  It`s unbelievable.

I wonder how they would categorize this approach:

*IMO, zero promotion of a publicly traded company (which benefits the majority shareholder in a takeover attempt)

*$.18 takeover consideration ($.22 offer) for share which traded for $3.50 less than a year previously, and with peer companies trading at the equivalent of $2.00 - $4.00 around the time of the offer

*almost a complete write-down of the most prominent undevelopment silver mine in the world (both in grade and ounce in ground) - with the write-down happening with a quarter of huge cash flow (which had a major of efect of suppressing the share price, IMO, of a company targeted for takeover by its majority shareholder)

*sale for peanuts (almost nothing), IMO, of the Novophirsovskoye project (IMO, still promising project), which resulted in a corresponding (material) write-off, which just so happen to partly mask the profits for yet another quarter, and suppressing the share price yet again (which benefits a majority shareholder in a takeover attempt)

*allowing significant dilution of shares to a company friendly to the majority shareholder, when minority shareholders were willing to provide assistance in seeking out more financially beneficial (less dilutive) funding opportunities 

etc., etc., etc.