High River Gold Mines Ltd HRIVF

Even if remaining $106.5M debt... to shares

[production05]

Theoretically, if minority investors keep saying NO to the deal and Severstal converts the $106.5M remaining debt for shares (in small portions over time, via the loophole, and the blessing of "HRG Management"), at a conversion price of $.22, then the maximum ownership they can get (via strictly this method) is about 75% of the company.

The total outstanding shares would be:

 1,133,303,949 (after full conversion of debt at hugely discounted prices, after screewing minority shareholders royally, while all the regulatory bodies just sit back and watch, IMO) = 649,213,040 current (including shares Severstal just picked up) + 484,090,909 more shares (the so-called HRG Management will gift wrap and hand over to Severstal for the remaining $106.5M debt)

Even with all of this robbery (in my view), the takeout price should still be $1.06 and not $.22.

The value of HRG's peers is minimum $1.2 Billion (last I checked, a few days ago, Reb Back Mining $2.1 billion, Eldorado Gold $3.8 billion, Randgold Resources $6.0 billion).

$1,200,000,000 peer  value / 1,133,303,909 = $1.06 per share

So, NO, I don't buy the agrument that just because everyone has rolled out the red carpet for Severstal, that minority shareholders should just accept $.22.  Severstal will have to do more than just convert the debt in order to pick up the remaining 25% of HRG, if minority shareholders overwhelmingly continue to reject their insulting offers.

[hrgagogo]

production, is the 106.5M after the current private placement which reduces debt by 10M? If not, then need to recalculate.  Thanks

[production05]

Hi hrgagogo, the $106.5M is as follows:$122M (last published by HRG) less $15.5M which the company said was due May/June timeframeAs such, our current debt total is $106.5M (which factors in the $10M June payment).

[hrgagogo]

Thanks production.  Just looked at the updated list and do not see your name on it.  Just wondering why, if you have already explained reason, may have missed it.  Thanks

[production05]

Hrgagogo, that's a good question.It is because there is serial basher (with a string of continuous multi-aliases) on a Stockhouse site for one of my other investments.  He seems to take a special interest in me, and especially with personal info I've posted in the past.  He is a meticulous poster / paid basher, who even goes back 4 years sometimes to dig out personal info I

[NaturalCurrency]

is that other company CMM?

[production05]

Yes, correct! It looks like he even managed to sabotage a poll question on the blog today. Read Carib's (the administrator's) message on the blog. https://www.stockigloo.com/

[NaturalCurrency]

That is another play with a huge upside - went from 1 cent to 28 cents (now back down, awaiting confirmation of financing). I was able to get in around 6 cents. My second biggest holding after HRG.

[swiftfox]

Hi NCI'm still here reading everything - along with the same amount of shares.  I am with everyone and will only say yes to over $1.  Planning on going to the AGM.  I am also on the same other play and reading the other board - just waiting for confirmation of financing as well.Thanks