Member Info for BIGBangs

Sorry that’s buying on large drops - I leave shorting to others.

Thanks P, I only do this for fun as well but seem to have become quite involved. All the shorters can do is work with the MM’s by selling a few to drop the price then buying back more to gradually reduce their exposure - all done through algorithms and robot traders. The method you are extolling is contrarian and I am definitely on board - doesn’t always work and you risk catching a falling knife - as we may have done here but if the company’s fundamentals are strong things tend to work out over time. ATB.

No still showing at 0.7% although others may well have holdings below 0.5%. The longer they hold the more they will lose. They could well have another push but that could really backfire on them so I doubt that they will be that reckless - more likely that they try to manage their way out.

Sorry MP this is the link that should have attached earlier - worth a look. https://youtu.be/1idpdNafopE

If you have seen the videos on current Tanzanian copper and rock concentrate plants you might agree with me that a plant capable of processing the concentrate from our mines alone is quite simply out of reach for them and will almost certainly not happen. Nearest state of the art facility is in J’burg SA (superb) used and part owned by Ashanti - although I admit I do not know where we send our concentrate- probably depends on capacity and cost at the time.

MP - these were comments of GoT back in June 2017 - they were expecting the ban to be lifted shortly and announced they were building a smelter- been pretty quiet since - probably cost over $1bn. https://m.youtube.com/watch?v=1idpdNafopE

Very roughly one tone of concentrate = one ounce of gold so the handling issues are significant.

A smelter is expensive not just because of the actual processing unit but also the infrastructure required to get the concentrate from the mines to the smelter road - rail - port.

Well let’s see what I can remember. No dispute re dore which is essentially gold bars - no ban on export. Dispute over content of gold and copper within concentrate (disputed by ACA and not credible to the extent suggested by GoT). Lots of co’s export concentrate. If Tanzania had a smelter then Aca would use it but not considered economic to build one. GoT would like one as job creation and would also give them more control and more value created within country. Barrick/Rangold unlikely to want to build one but if all African gold concentrate was processing through Tanzania that might be different. Might form part of new deal.

Thanks Super but it is not just about being positive which although a healthy approach doesn’t buy my daily bread. We simply report the facts and draw comparisons with other companies or situations. I am still showing a loss on this investment but it is now tiny compared to where it was. I could easily justify selling up and switching to a company that has suffered over the last 12 months and if I was so inclined convince myself that overall I am ahead - lots of co’s out there to choose from but none that I think have better prospects than ACA. Do I think that ABX might drag their heals hoping the £ may fall over the next few weeks on Brexit talks - possibly. Do I believe that if the price of gold was higher we would have reached an agreement sooner - possibly. Do I think that the Ferry disaster would have made it politically difficult do do a deal over the last few weeks - possibly. Do I think that China being on national holiday last week could have held things up - possibly. Do I think that a deal could be done this week, this month, this year - possibly. Do I think a deal will be done - definitely and until then there is no better place to invest my money.

I think it was you Franky who drew a line between Barrick’s forthcoming announcement and an agreement with GoT- I remember writing that a deal would not be influenced by such timings. I am glad that your losses are reducing but bemused by your constant negativity. We do not know the timeline for a deal but that does not make any comments we have made irrelevant.

CEY still have near double our market cap despite the fact that we anticipate similar y/e production and we are only really producing from one of our mines. We still have a long way to climb.

Aca report increased production targets at 500000 ounces. Remember this is just gold blocks as the concentrate ban is yet to be lifted. https://www.reuters.com/article/acacia-mining-outlook/acacia-mining-raises-annual-output-target-on-better-than-expected-q3-idUSL4N1WO1AQ?rpc=401&

Very tempted by CEY at c89p but two things are stopping me from going back. Firstly although CEY are a good company and have some excellent assets thet seem to have lost their way lately making some silly mistakes and keep missing their production targets so the market may not be finished with them yet. Their SP may fall further and is unlikely to rise by more than 10/15% before they get back on stream. That leads me to my second reason - ACA, as most of us know, has suffered a lot and despite the recent rises we are only back to where we were c6 months ago - almost anything that is announced next will send our SP rocketing so I am staying put and remain extremely hopeful that we will be getting good news very soon.

Investing in the community once again - this single mine has 209000 ounces of gold in the tailings alone and 4.5 million ounces proven and probable gold in the ground - what’s our share price again?

We got that wrong Super - didn’t feel right so I checked. We donated 80m TZS to the fund which comes to about £27k not £10m.

JT has brought over 2m shares in Barrick to take his holding to 5m shares - I get the feeling that he did not want to be seen as the weaker partner as on conversion Rangolds guy MB (the future President and CEO) will also have over 5m shares. Neither seem to be worried as to the future of Barrick or indeed the price of gold.

Well Super I am sure that the contribution from the company was the right thing to do in light of the tragedy. You point out it did not have/need shareholder approval and I agree but the contribution represents c2.5p per share if distributed as a dividend - so we all contributed - my share was over £5k - you’re welcome.

I certainly don’t know the specifics but the UK tax system would allow you to offset 100% of corp tax against certain investments perhaps that is the agreement with GoT. They are obviously paying royalties and employ tax and investing in the economy independent accountants reports confirms this. I am sure they are paying everything that they are legally obliged to but GoT maintains this is not enough and want to change the existing rules - surely this is in part what the new agreement, when completed, will outline. What is the news here?

Well MP who knows. My view is that DRC is much more corrupt than Tanzania. State mining co there seizes on every opportunity to press for one off payments to settle disputes but no one is quite sure where the money goes but most does not end up in the affected areas. Gold pundits are split on future of gold with Goldman Sacks now going long to predict $1325/1390 for next year whilst a disfunctional futures market (as opposed to physical gold) has shorts coming out of it’s ears. I think the Barrick/Rangold deal is brilliant for both sides - probably as much of a reverse takeover as a merger as I can see the Rangold guys running the shop. For the moment due to the merger arrangements Rangold price is linked to Barrick so its ability to benefit from its own entrepreneurial activity is restricted but the merger, in my view, marks a turning point and a consolidation in the gold sector. If you are in the business and the gold price is not going anywhere then the best thing to do is consolidate and benefit from skills and cost savings. I think the guys in Rangold are experts in Africa and can only help ACA with GoT not to forget the benefit that will befall all concerned when the Chinese take a stake.