GREY:HRIVF - Post by User
Comment by
discern1on Jan 06, 2011 6:05pm
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Post# 17935686
RE: RE: Yukon move is old news of Nov 15/10
RE: RE: Yukon move is old news of Nov 15/10Which is why on a down day for gold and silver miners, HRG dropped and then ended neutral.
I think a few were scared off by the fact that HRG was moving to the Yukon, but the rational already knew this would happen and that the corporate laws of the Yukon are the same as across Canada. All that this move allows Severstal to do is to reduce the governance structure between its divisions. I imagine that the directors of HRG will eventually be the directors of Nord Gold and HRG in all but name will be part of the Nord gold operations.
What I am very interested in is Severstal's plan on dealing with our shares. Will HRG continue as a seperate weighted percentage of Nord Gold or will HRG shareholders be offered to trade their shares for Nord Gold?
I anticipate that Severstal is planning on maintaining our HRG shares as a separate entity like they are already doing. Otherwise, they wouldn't have to make this transition to the Yukon if they were planning on making HRG obsolete in a couple of months.