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Bullboard - Stock Discussion Forum High River Gold Mines Ltd HRIVF

GREY:HRIVF - Post Discussion

High River Gold Mines Ltd > Market As Battleground
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Post by bricks on Jun 10, 2009 12:28am

Market As Battleground

I admire all the planning being done to fight this ridiculous scheme.
Iam with you guys and am willing to help with anything I can muster.

But one nagging issue in my mind right now is this:

The other camp are bright folks playing games. Wouldn't it be obvious that in the interest of assuring a favorable result come voting period, they would have gone to great lengths to ensure that sufficient amount of voting stocks are placed in the hands of their proxies and allies in the minority? Enough to ensure victory no matter what their opponents (us) do, at least?

I was kinda suspecting they were loading up (through proxies and allies) during the initial .18 hint offer. But since they needed to increase the bid to today's .22, Iam assuming that they were unable to accomplish this security measure during that period (tendered volumes were too low). So the soup needed another stir, rattle the cages again, drive up the volume, create another frenzy, so they can buy in more.

By accomplishing this, it doesnt matter what we minors do, we are losers come voting day.

The only way to fight this then is get these stocks being offered for sale to friendly (friendly to us) minority hands. So, the next several days are crucial. These stocks must go to our group or Severstal can't be stopped. If they cannot secure enough during this run, they'll probably stir it up again (offer say .25 with another doomsday story attached to it).

Its just hard to believe they would put a vote like this to chance.
If this thing goes to a vote, we are already pretty much screwed, aren't we?
What IF the large block institutional buys we saw recently were meant to strengthen their position?

Do I make sense?
Iam watching the volumes, nonetheless.

Btw, anyone want to give me instructions on how i can attend the AGM. I live in downtown Toronto so going there is no bother. I dont have the stock papers some of you are hinting about. I trade via an online discount broker. Are the receipts from my discount broker enough proof of ownership? They do say HRG XXX,XXX number of shares. Are they?
Comment by discern on Jun 10, 2009 12:59am
I have been reading and involved about this drama for the last while.The most recent trading will have no impact on the AGM voting shares.  Shareholders need to be on record on May 19th.  Otherwise, I would have suggested a "takeover" by us poor minority shareholders.I don't find it surprising based on Serstals history that they released the desire to "generously buy ...more  
Comment by bricks on Jun 10, 2009 1:22am
discern,are you saying the vote for this "offer" is connected to the AGM?the release said " the Special Committee of independent directors recommended to the Board of High River that High River negotiate a support agreement with Severstal"this is still a recommendation as far as it goes. the agenda from the AGM is different, is it not?can you please explain& ...more  
Comment by production05 on Jun 10, 2009 1:38am
The takeover vote is different from anything happening at the the AGM.  We likely still have a couple of more months before the takeover closes, depending on when they get the documents out and when they set the dates and such.  Severstal needs to put together a formal (detailed) document and then send it to our homes.  That will likely take a bit of time.Nevertheless, we ...more  
Comment by discern on Jun 10, 2009 1:41am
I said this because I was pulling together some conversations on this board. I very well might be wrong. On one hand we have the AGM upcoming and the move afoot to raise questions to the directors. On the other I have read repeatedly about how 90% approval is required for any buy out to occur. I'm assuming that since the approval has to take place at a share holder meeting that Severstal will ...more  
Comment by discern on Jun 10, 2009 1:43am
thanks production for clarification
Comment by bricks on Jun 10, 2009 1:59am
so then it becomes an issue of which shareholder on record list is going to be used for voting purposes.if it is the list as per May 19, then ownership after that date will not count. if severstal rushes to put this into a vote, then they are pretty confident then that they will win using that list.if they dont rush the voting and pushes for a new list, then there you go.id say change of ...more