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I can imagine that one. I bet Bristow is all bluster and passion selling the deal and Odey totally non-plus! Worst worst case if this goes the wrong way over the next few days, Barrick isn't going to watch 64% of their ownership turn to toilet water and the GOT aren't going to kill the golden goose long term either. I'm 100% sure that eventually sense will prevail and all round fair play is the only way out.
Yes Frankly, I too am hoping that the suspension of arbitration is for a good reason. I personally hope that ACA stay firm on the deadline and I would not be unhappy if Odey and Fidelity were involved in the actual discussion process/meetings they hold the key to this and will not be afraid of some straight talking - love to see a picture of Bristow and Odey facing off!
Hi BB! I better say something positive and just had a good thought. ACA wouldn't suspend arbitration without consulting the shareholders and the shareholders wouldn't agree to it, if they thought conversations with Barrick weren't progressing. Of course ACA can't say "hey everyone we think we'll get a decent offer from Barrick so we'll suspend arbitration" Better to suggest that its between Barrick and GOT than give the game away!;-)) Makes sense to me.
Ha! You have a cracker Pat. It's only money!!-)...us lot need to think about the next wave to ride and make up for any shortcoming with ACA. Personally taking a sneaky peek at William Hill. Pretty sure they are going to get bought out on the next 12 months and I think they look cheap in the LT. Anyway I digress. Let's sit tight on this Gold Mine malarkey. It would actually make a bloody good mini series on the box!
Franky welcome to the glass half empty club .. I’m just about to board my flight to Newquay .. I don’t think my glass will be half empty for long this weekend.. Mess dinner at RNAS culdrose then weekend drinking .. I couldn’t face the 6 hour drive home after drinking hence the flight
Depends if ACA act quickly this time to lay off staff and enter into care and maintenance - spend nothing they do not have to a fight back hard.
I think now that we suspended arbitration we are the ones that blinked first and are in the position of weakness. Anyway am only guessing with any of this now. If we get an offer it ll be after hours Friday. I just think we ll get another extension and with the mine shut for 2 weeks the SP will slide and Barrick will stiff us. I hope to God not but nothing here feels like a happy ending.
How long is any cash pile going to last when NM is shut down as of Saturday!! Not long methinks.
Certainly agree that we are under the most pressure politically (although CEY have their fair share of problems in Egypt) but we we also have a growing cash pile and at least £300 m in gold at the docks - a resolution to the dispute is in everyone interests and must be on the cards.
Hi BigBangs!
That's not quite fair on CEY and HOC. CEY are guiding to 520K this year and are on target. They also have about $330m cash lying on the balance sheet and no debts.
HOC are also a good company and not overvalued.
But I get the point. ACA's share price is very low considered the potential of its assets. But that's what happens when we don't even know for sure if North Mara will be operating next week. In gangster terminology, we're the mark, Magufeli is putting the squeeze on us, and Barrick is making us "an offer we can't refuse." Let's hope this doesn't end with us being fed to the fishes.
CEY and HOC announce their results today.
HOC produce 161160 half year - let’s say 222320 ounces per annum (plus silver I know) but Market cap of £1037m.
CEY produce 234096 half year - say 468192 ounces per annum, market cap of £1336m.
ACA producing 500000 ounces with potentially 1m ounces in full production - market cap £745m - draw you own conclusions and watch your stop loss prices if you have set them anticipate all sorts of tricks today and tomorrow.