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I’m happy to go with that Elly - once this is formally acknowledged things will happen pretty quickly so hold tight - the best is yet to come. By the way - well spotted and thanks for letting us know. ATB.

Mitsubishi selling off will have helped us. The market will have been aware and that has held the price back. It was a large chunk so a 5% drop in line with their sale price is actually positive and remember for every seller their is a buyer and they will be looking for growth. I also find it interesting that Mitsubishi decided to sell as they are moving into the market themselves so they must believe in the industry in which SLA are clearly one of the best players. Still a tricky market pre Brexit but at this price with our dividend I will be sleeping very soundly.

Hi Mark - I don’t want to argue this out with you as having read you posts over a long period of time I know that you are fully committed to PFC and shareholders success, however, the distance between the admitted guilty party and the main board is at best a mitigating factor it does not remove liability. The SFO have won this one - settle it and move forward - delay will play into the hands of the shorters. I also think that if the now deceased Semaan could take the hit on behalf of PFC the company he founded and loved he would do so without hesitation.

I don’t see how PFC can fight this out, the guy has admitted his guilt. To win PFC would have to prove that he acted alone and that would raise the question as to how he managed to defraud PFC out of the money used to pay the bribe and that he did it to benefit himself? That might be an even more worrying possibility. We can all accept or at the very least acknowledge that making payments to third parties is/was prevelant and indeed expected/accepted practice - without judging right or wrong it happened. I hope that PFC will negotiate a DPA and get on with doing what they do best which is running the business.

Hi Super, I am pretty sure we are in FTSE 250. My view is that following the presentation last week the analysts left with a very clear view that the Tanzanian problems would soon be resolved. As existing institutional investors would have had to notify the market if their holding had crossed a percentage point increase I don’t think we can put the rise down to stakebuilding, my guess is; buying on upward momentum, possibly some insider deals but most likely MW buying to cover their now unreported but known 2 million share short - it had to happen at some point - they took it to the line but with news (once again) imminent in my view they finally had no choice. £2.40 getting close now, when we hit that figure I will have another guess. ATB - hold hard.

The difference between the original drop on the announcement of an SFO enquiry and now is that a senior manager has been found guilty of bribery. 999/1000 times this means the company are guilty either knowingly or unknowingly but the result is basically the same. Perversely the court ruling may actually be to our ultimate advantage. PFC need to reach agreement with SFO and enter into a DPA - only when this has been done can things move forward. We have suffered more by speculation of action than we will suffer from a fine, which is unlikely to be more than $250/400 million and much less than what we are loosing now. If practices were allowed that led to bribery (and of course PFC were not alone in this) then providing we can acknowledge the wrongdoing and show how systems are now in place to stop this ever happening again then we can eat our humble pie, pay our fine and move on. The threat of action and the speculation about a fine have allowed the shorters to get back in - I doubt they are finished with us yet and I would not be surprised to see our SP fall as low as £3.50 not because that is what the co is worth but because the shorters can get the price that low. Once a DPA has been entered into the SP will shoot up as shorters exit - PFC are a stronger company now with much reduced debt and a BOD that have shown their commitment by investment not forgetting that our order book that has not been harmed by the enquiry. The SP will recover it is just a matter of when to go all in!

PDL has been on my watchlist for some time so I was naturally attracted by the recent drops (sorry) - I came across this article today - it suggests that China have perfected a synthetic stone that is almost indistinguishable from the real thing without sophisticated equipment, at the very least this would have industrial usage. I’m sure I don’t know. I am not aware that other diamond miners have been affected as much as PDL so it might only be one factor. Let’s see what the results suggest on Monday but something is up. https://www.zerohedge.com/news/2019-02-08/made-china-diamonds-poised-rock-global-market

Elly, I suppose the reality is after the rise we have had over the last 6 months most of us here would better be described as holders than buyers having built a position over time - I have bought on the dips but hope to be strong enough to hold through the rise although I know that I might have to go for just a few more when the news breaks to catch the lift! Where would the ii buyers get the stock if they wanted to make a large buy every buy requires a seller and there just aren’t going to be any. If the shorters are going to switch long the price will just keep going up and that is before the news - I still think we could/should get to £2.40 before any announcement but I am pretty happy now.

Just passed offer price £211.4 so new 12 month high achieved. Imagine a room filled with some of he best gold analysts in the world talking g to a bunch of guys running the best gold miner in the world about an upcoming event that they are not allowed to acknowledge - do you think it possibly that without being directly told anything that these talented analysts could pick up from the way a question is not answered or deflected what is likely to be going on - I can and the market seems to agree something is brewing.

That would explain it.

Hi Elly, I think Doto (James) is Permanent Secretary to the Treasury and the Bulldozer’s nephew - currently in the spotlight about a missing (?) $1 billion from the GoT’s accounts - I cant remember him being mentioned in relation to the discussions, why do you think it will be him that will be involved with the announcement - when it finally does come?

We get only a passing mention - MB is confident situation will be resolved in due course for the benefit of all stakeholders.

Wow Stock - that took me by surprise. I am sure your decision is the right one for you. All the very best with your next investment. For those of us that remain invested Barrick webcast at 4pm (GMT) les hope for a positive lead on what’s happening - for the record I do not expect MB to confirm agreement as being done but I hope we will be given a good guide as to what to expect.

Page 9 of accounts:- South Houndé Project Update During the fourth quarter of 2018 Acacia signed a binding conditional agreement with its partner, Sarama Resources Ltd. (TSX-V: SWA), to terminate the earn-in agreement in respect of the South Houndé Project in south-western Burkina Faso. The termination of the earn-in agreement is conditional on definitive documentation being agreed by the parties before April 30, 2019. Acacia’s divestment of South Houndé fits with the Company’s strategy of divesting certain non-core assets as part of an on-going review of its exploration portfolio. Acacia remains committed to exploration in Burkina Faso with various earn-in agreements still active and which provide exposure to approximately 2,000 km2 of the prospective Houndé Belt.

I am pretty sure that this was mentioned in the telecon and accts - details at end of 1st qtr - no figures given. Concentrating on core assets. Easier to value a cash pile than an investment.

Thanks Elly, quite a positive outline although I don’t think anyone could argue that Barrick would be able to buy up ACA on the cheap - at worst it would be market price which once the situation with GoT is resolved will be at least double where we are today. ABX span off ACA with quite a few issues that have come to light over the last year or so - they, even if one step removed, were party to the poor relationship between their subsidiary ACA and the GoT which led to the export ban and they need to make good with the institutional investors that brought in at the float at £5.75 and have stayed loyal to the company throughout. With a new deal on the table and a bright future ahead then £5.75 is our goal price be that with Barrick taking over the outstanding shares (probably by offering 1 Gold for 2 ACA shares) or brokering a deal with the Chinese. I believe that the fact that Barrick have handled the negotiations will mean they can’t bully a poor deal through, nor would they want to. I am sure they will put a deal forward that reflects the opportunity going forward and the $4 billion that has been invested already. How close we will get to £5.75 remains to be seen but as I have said before i think the most likely offer is 1 for 2 shares or a cash offer of between £4 and £5.

Telecon was all very positive - ACA doing everything they can to manage the business profitably through dispute. Restricted production at Buly will actually produce benefits going forward. Costs under control cash increasing. Net Asset value confirmed after $800 million right off last year. Talks between Barrick and GoT increasing - RRS effect positive. In answer to a broker question on time line from Barrick putting forward deal to ACA board it was suggested that it would take 3 months to review and get Shareholders approval - this can’t be correct - a review by ACA board committee should take less than a week let’s give them 2 to complete review and get info to shareholders- EGM notice period 2 weeks so if it took more than 1 month I would be amazed. Board all sounded confident and resilient for the task in hand and ACA at least are doing everything that we as Shareholders could ask for. Now we await Barrick’s presentation on Wednesday for more updates.

I have cut and paste financial highlights below - all good especially considering backdrop production up AISC down, cash balance up. Still assisting Barrick with negotiations negotiated settlement still best and most likely outcome but international arbitration continues and likely to conclude Q3 this year. Confirms Chinese interest but inextricably linked to resolution with GoT. Confirms all GoT litigation against co and employees historic (2008) prior to ACA existence and already included within arbitration process - no SFO enquiry. Forecasting 500/550 ounces production 2019. Operational highlights 2018 gold production of 521,980 ounces, ahead of initial guidance of 435,000-475,000 ounces for the year due to the strong operating performance at all three mines Gold sales of 520,380 ounces, broadly in line with production for the year 2018 AISC1 of US$905 per ounce sold was below the full year guidance range of US$935-985 per ounce, driven by the higher production base, lower capital allocation and strong cost discipline Bulyanhulu optimisation study has progressed well, with provisional outcomes supporting a potential 18 years life of mine at steady state production of 300,000-350,000 ounces per year at an AISC of US$700-750 per ounce sold, upon further capital investment of around US$120-140 million, including capital, drilling, development and rehabilitation costs over a 12-18 month period, successful resumption of underground mining operations and a return to full production and sale of gold in both doré and concentrates. A final decision to resume underground mining operations will be considered by the Board at the appropriate time Financial Highlights Revenue of US$664 million, 12% lower than 2017, with the higher average realised gold price offset by the lower sales base EBITDA1 of US$226 million, 12% down on 2017 mainly due to the lower revenue, partly offset by the US$45 million gain on the sale of a non-core royalty, with adjusted EBITDA1 of US$183 million, 41% lower than 2017 excluding the sale of the non-core royalty Net earnings of US$59 million compared to a net loss of US$707 million in 2017, with adjusted net earnings of US$44 million (US10.8 cents per share) compared to US$146 million in 2017 (US35.7 cents per share) mainly due to lower revenue Cash balance increased by US$50 million during 2018 to US$130 million due to the sale of a non-core royalty combined with strong operational performance, with net cash balance of US$88 million at the end of 2018 Contributed US$127 million of taxes and royalties to Tanzania and spent over US$273 million with local suppliers in Tanzania Other than news of agreement or sale we could not have hoped for more comprehensively good results.

I think you are right Super gold has risen about 8% against the $ but the £ has fallen about 15% against $ so surely in £ terms it is over 25% up? Interesting to see what next week brings either a conclusive announcement or will we get more talk of moving towards agreement - either way I am sure it will be positive I would, however, be great if that they have something solid to announce.

MW increase their short position to 0.5% 4th Feb - trying to stem the rising tide - brave or stupid?