Post by
scluri on Jun 01, 2009 5:36pm
Russian to English News Translation
26.05.09. The Severstal plans to get 100 % High River Gold
Russian "Severstal" has not refused plans to increase a share in the Canadian gold mining company HRG with 53 to 100 %. The company considers possibility of the repayment at ???????????? 47 % of actions of the gold mining company for 50 million Canadian dollars (44 mln. dollars of the USA) and in this connection has asked management HRG to carry out consultations of holders of actions.
"Severstal" can make the proposal on the repayment of 47 % of actions (about 277 million pieces) High River Gold at minority shareholders of the company for 0,18 Canadian dollars (0,16 dollars) for a piece, has declared on Friday HRG. As the representative "Severstal-resource" Sergey Loktionov has informed RBC daily, on May, 19th "Severstal" has suggested board of directors HRG to begin dialogue with minority shareholders concerning definition of the price of the possible repayment. As president HRG Dan Grushevsky has explained RBC daily, "Severstal" has suggested directors to undertake corresponding steps to interests of minority shareholders. But consultations of them are not conducted yet. Their beginning is complicated in the absence of the information on the one who particularly owns papers.
Quotations HRG at stock exchange of Toronto made on May, 19th 0,16 Canadian dollars, however after a while have grown to 0,23 Canadian dollars. Growth of actions also became the reason of publication of the message on the possible repayment. "The Severstal" position rigid as the company is not going to overpay for papers because of a speculative rise in prices, tells RBC source daily, close to the company. According to analyst UniCredit Securities of Marata Gabitova, HRG not the most successful active, its debts make more than 130 mln. dollars, and the dead loss in 2008 47,1 mln. dollars According to an analyst, this step of "Severstal" is caused by that publicity HRG leads to additional costs. RBC source daily, close to the company, says that minority shareholders HRG are not interested in prospects of its development and do not participate in financing.
--------------------------------------------------------------------------------------------------------
26.05.09. ?????????? ????????? ?????????? 100% High River Gold
?????????? "??????????" ?? ?????????? ?? ?????? ????????? ???? ? ????????? ???????????????? ???????? HRG ? 53 ?? 100%. ???????? ????????????? ??????????? ?????? ? ???????????? 47% ????? ???????????????? ???????? ?? 50 ???. ????????? ???????? (44 ???. ????. ???) ? ? ????? ? ???? ????????? ?????????? HRG ???????? ???????????? ? ??????????? ?????.
"??????????" ????? ??????? ??????????? ? ?????? 47% ????? (???????? 277 ???. ????) High River Gold ? ???????????? ?????????? ???????? ?? 0,18 ?????????? ??????? (0,16 ????.) ?? ?????, ??????? ? ??????? HRG. ??? ??????? ??? daily ????????????? "??????????-??????" ?????? ?????????, 19 ??? "??????????" ?????????? ?????? ?????????? HRG ?????? ?????? ? ????????????? ??????????? ?? ??????? ??????????? ???? ?????????? ??????. ??? ??????? ??? daily ????????? HRG ??? ??????????, "??????????" ?????????? ?????????? ??????????? ??????????????? ???? ? ????????? ???????????? ??????????. ?? ???????????? ? ???? ???? ?? ???????. ?? ?????? ?????????? ??-?? ?????????? ?????????? ? ???, ??? ????????? ??????? ????????.
????????? HRG ?? ???????? ????? ??????? 19 ??? ?????????? 0,16 ?????????? ???????, ?????? ?????? ????????? ????? ??????? ?? 0,23 ?????????? ???????. ?????? ???? ????? ? ???? ???????? ????????????? ????????? ? ????????? ??????. ??????? "??????????" ???????, ??? ??? ???????? ?? ?????????? ????????????? ?? ?????? ??-?? ?????????????? ????? ???, ??????? ???????? ??? daily, ??????? ? ????????. ?? ?????? ????????? UniCredit Securities ?????? ????????, HRG ?? ????? ??????? ?????, ?? ????? ?????????? ????? 130 ???. ????., ? ?????? ?????? ? 2008 ???? 47,1 ???. ????. ?? ?????? ?????????, ???? ??? "??????????" ?????? ???, ??? ??????????? HRG ???????? ? ?????????????? ?????????. ???????? ??? daily, ??????? ? ????????, ???????, ??? ???????????? ????????? HRG ?? ???????????? ????????????? ?? ???????? ? ?? ????????? ? ??????????????.
Comment by
glorieux on Jun 01, 2009 5:54pm
They can keep dreaming!! Our investments are now worth 45M and the POG is holding steady near all time highs, ready to breakout over 1k dollars!! A few quarters like Q109 and selling of our investments will mean we have a debt free company earning 300k ounces of gold per year at a cash cost of $414. NO WAY are they getting this for 18 cents per share!!!Glorieux
Comment by
NaturalCurrency on Jun 01, 2009 7:36pm
The can keep saying whatever they want - for me, I dont mind HRG going bankrupt / delisted whatever, but will not say yes to an offer less than $1.5. For some, I might be a dreamer (hopefully not the only one), but I will not let Severstal dictate to me the value of this company.