High River Gold Mines Ltd HRIVF

Severstal is a Shareholder

[ThyFish]

Fiduciary Duties of Shareholders

Shareholders are generally prohibited from directly controlling the business of the corporation. Their control, to the extent it may be exercised at all, is indirect. Their primary source of control is the power to elect the members of the board of directors.

Majority or control shareholders may be subjected to personal liability when they vote their shares to perpetrate fraud on other shareholders. Shareholders may be personally liable for damages resulting from the breach of their fiduciary duties either to the corporation or to minority shareholders.

Controlling shareholders owe a duty of loyalty to the minority shareholders of a corporation. This duty generally applies when a controlling shareholder engages in transactions with the corporation. In such cases, the relationship with the minority shareholders must meet the test of intrinsic fairness. Under this standard, the controlling shareholder must show that its transactions with the corporation were objectively fair. The standard applies only when the controlling shareholder stands on both sides of a transaction and only if the controlling shareholder receives something from the subsidiary to the exclusion of, and detriment to, the minority stockholders of the subsidiary

Wow, that's a great read on Lawyer.com.  I do believe Severstal or Nord Gold would be the Majority Shareholder and I think it's safe to say that we have evidence that they have acted to the contrary of their obligations per the excerpt above.  One way or another......WE'LL GET OURS!!!!!!!!!!!!

Market, I tried to PM you but it won't go through.  Thx and have a great weekend bud!

ThyFish