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Wow I also got accused of being a shorter but your egotistical grandstanding suggests one angry human lol. Learn some grace.
Well, I'm officially miffed. I've made a small profit but not commensurate with the level of risk. I still think ACA is worth way more than this, as MB knows. Given the choice I wouldn't sell at £2.31.
Oh well, you win some you lose some.
Not too bad. Finally happened as I figure. Aca good to invest and good harvest. For me Gold is my favorite and Drugs medicine more valuable cause gold in material and drug medicine is for healthy body to recovery than life is more enjoyable. Good to see everybody happy.
I call them stupid because they kept accusing me I am a shorter , because I said the stock only worth around 2.5 . They accused me as shorter because I am not as optimistic as they are . I sold at 2 because the risk / reward is not worth the betting anymore. It is not about buying at the lowest or selling at the highest , cos no one can ever do that . It is about when to get in and get out when the risk/ reward are worth it. Anyways , don't accuse others as shorter when their opinions are different from yours . I remember I posted long time ago , time will tell who is right . Well?
Supercharge... yes and this is what I did and this board has been very helpful and my average here is £1.57.
Thank you to all objective posters here.
The point here is not only about profit or loss but the principles of how such a big thriving company can be robbed by “a daylight robbery “.
So unfair
Hi everyone, now that Barrick seem to have come to an agreement with the ACA board, what is the timeline for the conversion. I have never been through this process before but I know that my current shares provider do not offer Barrick Gold and i would likely have to sell prior to the exchange. Thanks for any advice!
As usual Stock ABC calls everyone else stupid and only appears here when there is a sudden change he feels for the worse. What he doesn't realise is that I do not put all of my eggs in the same basket and the other miners have also risen today, as they have been for the past few weeks.
Also the fact that the G.O.T may lift the export ban and this will help us whatever the offer from Barrick is. Also we may hear from our Easterns friends or anyone else for that matter that wants to make a counter offer and take a chance at these prices. We also have to consider that offer still has to gain court approval which may mean a due diligence being conducted. I remember one of your posts of wisdom Stock ABC where you mentioned "as soon as this share reaches £1.50 i will buy some more" -well in that case if you did the work of the boarders here has helped you make a handsome profit-so don't knock it.
Yes I can work with that.
Other way round I meant..so Brexit is officially good -)
Hi F - surely if the £ strengthens against the dollar the offer becomes worth less? With everything that is going on I can’t see £ strengthening anyway.
Pat if you want full ‘value’ from the offer you would have to keep the shares for quite a lot longer than the next few day.
Stock - pretty unnecessary comment that doesn’t cover you in glory.
Stockabc..
Your post on 17/4/2019” believe this will take a while more , we can't apply the normal reasoning to the Tanzania government. I will buy again when it reach around 150. I stay by my view of 250-300 , I believe it is impossible the share will jump to above 400 .”
Obviously you are the genius One and sold at £2 .
We are quite naive to sell higher than you then!
Stupidity is a talent... Only a few are unlucky to be gifted with !
GL with your investing acumen..and a great sense of humour..
I don t think calling people stupid is too great. Your guess was as good as anyone else Super. None of knew the outcome for certainty. Anyone who didn't buy at 90p is stupid??
Well my maths tells me I need Barrick to hit 29 CD to now break even..one thing I d say is either sell now or wait for £ to strengthen as exchange rate is s%$t..stronger GP and £ is the new prayer!-))
Hi Pat!
Yes, I do think Barrick will rise today, based on both this deal (it's literally a steal!) and on the POG.
In the long run I don't want to hold Barrick shares (they're a bunch of thieves), but I'll hang on to my Acacia shares for a few more days / weeks to get a better price.
I'm disappointed by today's outcome. But I don't blame the Acacia board; they did their best in an almost impossible situation.
I have been saying on this board for two years already . Impossible barrick will offer anything higher than 3 and the reasonable price should be around 2.5 , that's why I sold my share at 2 and invested somewhere. Well Some people kept saying I am shorter or whatever , they are just too stupid to see the whole picture.
Does anyone think that at 14.30 when NTSE opens that Barrick will rise further as they appear to have bagged a bargain here
I see there was no mention of them?
I would be very interested in what happens here as I am sure the fund managers will have something to say, and out of my four large allocations only one is in profit at the price being offered.
The offer to me appears to be a lot cheaper than I was expecting (even with the GOT who also have signed contracts previously with Acacia being as difficult as can be to get the deal agreed). We have received less than when I bought originally and I wonder if the Companies are Insured for political risk which has caused my loss?
Really sad to see Aca in this position.
Will never invest in any African country in the future once this saga ends.
Political calamity and huge risk of losing your investment there.
Our back is now against the wall.
Apart from the offer of **************...the rest is pie in the sky..no certainty in it unless you accept and continue to hold .
Well guys there you have it £2.31 plus potentially another 14p ish in special dividend when the other assets are sold providing you still hold the shares. We have to assume that the main shareholders including ODEY are onside. The offer is recommended unanimously by ACA board so we have to assume that this is now a done deal. It’s a profit for me but I know many of you will be hurting. My best advice is to just watch what happens today, perhaps contact your broker to ensure your account can accept/trade US/Canadian stock and determine the opportunity cost to you of holding Barrick shares for a while (they are doing well) and receiving the additional dividend in the future as opposed to selling and using the funds as you choose in the market or elsewhere. I am certainly not thrilled by the offer but will take my own advice and give it a little time. ATB.
Its 0.168 (£2.31) and recommended by ACA.
There is also an additional dividend as the African minig rights are disposed of in a separate transaction. Need to read that bit more carefully though when I get chance
Commodities outlook: Unstoppable gold trumps oil
by Rajan Dhall from interactive investor | 18th July 2019 11:53
As global economic uncertainty makes gold attractive, demand for oil is on the wane.
Lots going on in the world of commodities over the last week as gold pushed higher and oil markets have suffered a tough couple of sessions.
After weeks of encouraging rhetoric from the US over the US-China trade deal, it seems Chinese phone company Huawei is now a major sticking point in getting a deal done.
Yesterday, the US commerce department said progress on the trade war has been halted until they can decide how to proceed with the Chinese tech giant. There has been little if any progress since the two nations met at the G20 meeting in Japan last month, and on Tuesday President Trump threatened to slap another $325 billion worth of tariffs again!
In relation to the recent fall in stocks, US 10-year yields also took a drop, implying a move into safer assets. The yield on offer is also pretty weak at 2.047%, so it seems that would help boost the gold rally as investors hunt for bigger returns.
Gold still flavour of the month
Other than a re-emergence of the risk story, it is said that central banks were increasing gold stockpiles in their droves last month. The People's Bank of China (PBoC) admitted it added another 10.3 tons in June following the 74 tons added to their vaults in the last six months.
Looking at the technical, the weekly chart is showing a new trend of higher highs and higher lows. The key resistance level market by the $1,377 dollars per ounce zone on the chart was broken and now could become an area of support.
Next point of concern for gold bulls is the $1,523 per ounce level which was used as support between 2011 and 2012. In the weekly chart below, the last couple of candles have shown a rejection of the highs, so keep an eye on tomorrow’s closing price for confirmation.
Source: TradingView Past performance is not a guide to future performance
When will oil slide end?
Oil markets have had a rough three days after American Petroleum Institute (API) inventories showed a rise in gasoline levels in the peak travel season in the US. This would suggest that demand has not been as strong as the producers anticipated.
It doesn't stop there, as tensions between the US and Iran seem to have softened somewhat after Iran said it could block the Strait of Hormuz but will not. Further to this, the Iranians also say they have nothing to do with a small oil tanker that had gone missing in the Persian Gulf, but it was said to be having technical difficulties and was towed into Iran for repairs.
Looking at the daily WTI futures chart, it is clear to see that bulls could not push the price through the psychological $60 per barrel level. Prices have fallen just over 7% since and are now hovering at $56 per barrel. The $55.50-80 region has been a strong zone of support in the past.
Next week, if th
There is being developed new tyres made with no tube, etc, they might survive even if not a "Goodyear!!""" ha,ha.
All the best .....
Agree with you Dimi re Copper too. I did have Kaz for a while. Antofagasta I also held I think they were the biggest Copper miner at one time. Mind you for the FTSE I had once Acacia down as one of the biggest Gold miners, Hochschild Silver aswell.
VV I've been following Vanadium as well mostly, as I'm investing in uranium and quite a few uranium companies have a vanadium byproduct. I'm not convinced though. I have a degree in Electrical Engineering and personally have no clue which battery technology is going to win. People are talking about nickel, cobalt, graphite, vandaium, lithium, etc. What combination of these is going to be used for EV batteries and what for energy storage from renewables is anyone's guess really.
By all means give it a go but IMO it's a bit speculative. I'd rather invest in copper which is definitely going to benefit from an EV revolution but at the same time I don't risk losing lots of money which is the risk with vanadium if a competing tech becomes commercially adopted. I heard someone saying that "copper will be the new oil". I quite like Antofagasta, just still a bit too expensive atm I feel.