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Barrick q2 production figs tomorrow. They will include Aca's fantastic Q2 numbers and so could exceed guidance. Barrick already up almost 4% today and gold has also put on around $20. Add to this Barrick's half of the $6bn settlement and MB must be riding high. Wouldn't it be good to cap a potentially great week with a decent offer to settle the AcA saga Mr Bristow..?!?
Hi Pat - MTRO is a challenge to call - I added 5k shares today at c£4.72 now have 25k shares at £5.15 - we should be safe but goodness what a ride.
Noted Barricks SP - as you and Franky have made a call I will say 0.25 Barrick for each ACA - not enough but probably pull board onside as for Odey - well who knows?
Pat, considering that Barrick and the GoT are a bit of a mob, I'll trust your cop intuition!
Also BB I bought 10k of MTRO this morning at 490 thought I would bag a nice little profit and some beer money for my Naval Reunion in Cornwall this weekend... oh dear ... off for a run now to clear my head and sweat a bit of room for the alcohol
Barrick up at 16.50 now that’s 2.03p at the current offer ..... even a slight raise from here and we have 20/25% increase I know it’s not what we all want but I can see the dark arts at work now... My guess Is better offer by Friday with the ACA BOD on side .... But that is just my ex cop intuition.... 240/250 offer slightly higher than Frankys guess
I would say the odds of this being concluded by the end of the week as utterly bonkers. We may get an offer to then argue over for the next few weeks at best. Nothing to do with this story suggests a neat and tidy ending so I don't expect a conclusion on this. Personally I am mentally prepared for high volatility on this stock as things turn much nastier. Its what I expect, but eventually I believe the solution will come and intend holding long term. Also fed up, but if the GOT and Barrick wish to destroy value by dragging it out so be it. Its worth a lot more to everyone, to get the mine running and producing. My prediction in the process:
- 1. Low offer circa £2.10 rejected 2. NM effectively shut down. 3. Arbitration date reset. 4. Same shenanigans all over again with either GOT cracking or Barrick upping an offer after the summer.,..!! One thing I'm still confident of, is that we'll eventually get a fair deal.
I can only agree dimi - I do not want this to drag on further - to be honest I am probably too emotional about this stock and would much prefer a fair (ish) agreement with Barrick which like you and apparently Odey think is likely this week. If it does not turn out that way I think two things will happen - a bitter arbitration dispute that we will eventually win but also I believe Odey will launch an action against Barrick which I would be prepared to support in every way including but not limited to participating in funding an action group that he might set up. If it comes to it Barrick are wide open here and they should bear that in mind when negotiating. 3 days it not long to wait. A little fed up but hopeful. Hold hard.
Personally, I was never too keen on a long arbitration process. Perhaps if gold were flat like it has been in the last few years I wouldn't mind the wait. But now with gold breaking out and holding above 1400 I feel there are plenty of gold miners where I can get 2-3x without having any legal issues and probably in a much shorter time frame. So arbitration being postponed for me is a positive.
Also, as Pb said ACA wouldn't do this unless they were given some reassurances from Barrick. Whether those are worth the paper they are printed on is another topic but I hope we'll get an offer before end of the week. I agree with Franky that is probably not going to makes us jump around with joy but it is what it is. As Super pointed out not all of us have the risk tolerance to go through arbitration. Personally, I guess I probably don't. Either way what each of us is hoping for is probably not going to influence things. Odey on the other hand will have a say and they keep buying which is also encouraging. I feel they also want a deal but at an increased price.
Let's see what happens, only few more days till the deadline.
No plummeting Pat...expect the unexpected with this.. I think we won't get what we want with threat of closure. Its now a case of accept the offer or be shut down!!! I personally think we should go to court and play the long game but we'll get a ****ty compromise offer at about £2.20 instead. There....now I've said it, I can be sure of something unexpected to happen. Good unexpected I hope not bad unexpected.
Staving offf Arbitration is promising however the notice from GOT is another threat and with that I’m sure the SP will plummet this morning... it’s sounds to me that GOT are now getting frustrated with Barrick over their failure to reach an agreement
In this regard, in the event that the Transaction Committee of the Board were in a position to recommend, in due course, that the Acacia Minority Shareholders vote in favour of a Barrick offer, Acacia would seek to discuss appropriate steps for a stay of the arbitration with the GoT and the Arbitration Tribunal. ....from last Acacia RNS ...it appears to me there is an offer the board feel they can recommend