High River Gold Mines Ltd HRIVF

RE: RE: Prognoz - Great news

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Looking back now, it seems all the more likely the writedown of Prognoz was aimed mainly at increasing our chances of attaining the other half of this asset at a firesale written down price.

I have a completely different view of the situation.  I believe Severstal was in full skrew HRG minority shareholder mode when they wrote down Prognoz, and subsequently resulting in masking HUGE Income Statement profits (in my view).  HRG`s share price would have been over $2.00 at this time had Severstal/HRG so-called management not played their suppression cards (IMO).

It is my opinion that Severstal was looking out for only their own best interest back then.  It is my opinion that Severstal was still looking at getting the minority shares for peanuts back then.  It is my opinion that Severstal had intentions of doing something to pry away Prognoz from HRG minority shareholders (perhaps while trying to skrew the other 50% Prognoz owners at the same time).

It is my belief that Severstal`s / HRG so-called management`s tune changed after they failed to take over minority interest (both official bids and the delays, perhaps regulatory related, associated with closing the Troika deal - I believe they might have lost their window of opportunity and then the share price took off).  Also, after they were warned of possible court actions if they tried something underhanded with Prognoz (against minority shareholders).

To be honest, I feel sad for the 50% Prognoz owners.  They allowed HRG to take part in their Prognoz project originally as an open arms partnership.  I do not get any satisfaction from Severstal/HRG so-called management taking them to bankruptcy court.  Just like I didn`t get any satisfaction from the way Severstal/HRG`s so-called management treated its strategic partner, Goldrush (I don`t even own Goldrush shares).

All of this is only my opinions on the situation.  Others may have different opinions.