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UPDATE: Randgold CEO Comments On Acacia Do Not Reflect Barrick Views

Wed, 7th Nov 2018 17:56

LONDON (Alliance News) - Randgold Resources Ltd said Wednesday Chief Executive Officer Mark Bristow's comments regarding Acacia Mining PLC, in an interview to UK newspaper The Times, were his own and do not reflect Barrick Gold Corp, who are in the process of buying Randgold.

Bristow characterised an option available to Barrick Gold in relation to embattled Zimbabwe miner Acacia Mining was to "consolidate it".

Randgold stressed that Bristow has not held any discussion with Barrick or Acacia over a possible offer.

Bristow said Barrick Group could buy out Acacia to help it address Acacia's difficulties in Tanzania. Barrick currently owns 64% of London Main Market-listed Acacia.

In his interview, Bristow said: "One of the options that Barrick has is to roll up Acacia into Barrick itself, in other words issue Barrick's shares to the Acacia minorities, take it back within the company and consolidate it."

Randgold and Barrick Gold are merging to create Barrick Group, with Randgold boss Bristow set to lead the new company.

The merger - announced in late September - will create a giant USD18.3 billion gold mining giant.

Earlier Wednesday, Randgold Resources shareholders have given the thumbs up to its planned merger with Barrick Gold Corp.

Of those who voted, 95% approved the merger, with 5% against. Turnout was almost 100%.

Shares in Randgold Resources closed down 0.3% Wednesday at 6,260.00 pence each.

By Paul McGowan;

Copyright 2018 Alliance News Limited. All Rights Reserved.

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