RE: RE: RE: cjsell or others can give an update?I think I have been "outed" here! I was betting on them thinking you were cjsell, since only two of us were asking questions! Too funny.
As expected not much of anything was said about HRG, or current events nor pending news for obvious reasons.
I did comment to the Cassel's partner in attendance on the excellent job they have done in stifling the share price of HRG. Well done! However, I also asked her if she considered the fact that maybe they have done too good a job at bamboozling minority shareholders of HRG and thus greatly hindering the proposed Nord Gold IPO because Severstal scares the crap out of potential investors. Regretfully... there was no response.
I did ask if HRG/Severstal is having trouble attracting first rate Canadian "mining" executives to the BOD. The response was, "in the past information leaked". Hmmm I will take that as a yes. Maybe it was a translation thing, you know, I have to go and make a leak. On further thought I do not believe Mr Matthews has much of a mining background, let alone gold mining, perhaps he is helping out with HR issues. I should have asked him what skills he brings to the mix. Clearly there are enough lawyers there to start a law firm. Oh darn, he is a lawyer.
I also asked about transparency related to the timing of PR disclosures. Their response was limited to "information impacting the share price", not shareholder. Case in point, HRG is continually making changes to the management, yet we always get "CFO RESIGNS", "BOD member changes", :CEO resigns", in fairness of full disclosure I pointed out that in almost all cases these managers are still employed by Severstal, and in my opinion just a ruse to rattle the stock price because of perceived innuendos of boo boos on the books etc. Yet we also do not receive any guidance. Case in point, Q3 production was down, not the gold price, yet NO PR concerning guidance, and a drop in production will certainly affect the share price. Regretfully the Cassel's partner did not have a reply for that one either.
I then mused how long HRG can "sit" on news of a material nature. Say a certain company has signed off on something important, how long can HRG sit on this news without disclosure? Regretfully, this a a grey area and bla bla bla. In other words HRG or could have the cure for cancer and there is nothing to compel then to do anything.
Wish I could say more like.... the beluga caviar was excellent, the Chateau d'Yquem was to die for, but I had to take a leek so bad!
CJ