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Hi Super - It was a tongue in cheek comment suggesting wheels within wheels and whilst their last trades will be underwater they will have made money all the way down- we have risen from 95p to £1.28 recently but we have fallen from over £2 when the shorters first got involved. I certainly agree the tide has well and truly turned in that almost whatever happens next will be good for us as ACA shareholders but we do have a long way to climb. I admire your optimism but for myself I don’t really view ACA in quite the same league as Rangold. I think RRS have been world leading in almost everything they have done but as Ben has pointed out ACA was set up because Barrick didn’t really know how to handle the African market and would have been happy to sell had a willing buyer appeared. All that has changed with the RRS tie up but as I have said before I still think that Barrick will buy up the outstanding shares and sell 50% to Sandong - that will produce a truly magnificent combination going forward of Barrick/Randgold and Shandong - an unstoppable team. As to value of our shares - Barrick have compromised themselves by doing the negotiating and will need the deal for us to be sweet - they will also want to show their negotiating skill again and will not buy our shares for less than they are paid by Shandong for the 50% so I will say £5 plus but your £7 is not ridiculous - £5 would value ACA at £2bn which is not a lot more than asset value - I would be very happy with ABX shares.

Should the fact that Odey is a large shareholder of Rangold give rise to conspiracy theories in relation to his/his associates shorting of ACA? Time for them to switch?

Thanks Casa Al Ford seems to think that ACA will be taken back into the group with Barrick buying up the shares they do not currently own - makes sense to me although I still think they will take the opportunity to get Shandong involved. All good. Just got to wait for the ball to drop.

Also unless JT ‘miss spoke’ then we have already been told sale to Chinese almost 100% likely - we cannot just ignore that - even if ACA themselves appear to. US market opens in under an hour - I think if I was a RRS shareholder I might consider switching to ABX now depending upon rise at open.

Hi Super, I would still opt for sale but I will not be making the decision. If we stay as a separately listed co then I agree we become a much better prospect under the new regime and yes RRS’s delisting could well mean more UK investor money coming into ACA. All good news just waiting for the pieces to fall into place.

Barrick and Shandong announce they are going to buy $300 million of each other’s shares - importantly not by a placing but by buying in the market. Lots of background noise for us here but all positive. What we really need Is deal with GoT and repurchase of our Shares enabling Barrick to delist ACA stock and move forward.

Easy for ACA Tanzanian assets to be sold to Chinese (if not considered T1 asset) whilst retaining other ACA exploration within newco. I can’t see them keeping a U.K. listing for ACA when they are getting rid of the more valuable RRS Jersey listing. I think either way we will be brought in or sold off - shorters in trouble shareholders happy.

I certainly agree with you Ben about RRS CEO being the best in the business and new co will be brilliant. I am not worried about future of ACA either it will be brought under new regime or and I think it is now more likely sold to Chinese who have their own reasons for buying into Africa. Straight sale would release us to invest elsewhere - I will probably buy ABX if on the other hand the new co want to delevop us into tier 1 asset then happy days. SP up 8p I expect more today.

Interesting webcast. Massive potential in the deal good for ABX and RRS with the edge to ABX in my opinion - no premium merger. Mentions strong relationship with Chinese and we should not forget JT’s comments about sale. Our shareprice is stronger already and if no sale to Chinese then I am confident new co in better/stronger position to negotiate with GoT.

We have opened 6p up - more to follow

We don’t know yet but it can only be positive. May also explain delay. We will have to see if it has any immediate effect on our share price but this creates a much stronger Barrick - also RRS guy becomes CEO - JT stays as Exec Chair.

Webcast 8a.m. https://webcast.merchantcantoscdn.com/webcaster/dyn/4000/7464/16531/107449/Lobby/default.htm Announcement is very strong.

RRS issues RNS confirming planned merger. All share offer of 6 new Barrick Shares for each existing RRS share. Result will be RRS shareholders will own 1/3 of newly merged co and Barrick Shareholders will own 2/3.

Still no official announcement. If ACA listing moved to Jersey then there would be no stamp duty to pay on share dealing - which must be good. Randgold balance sheet is brilliant - on a straight sale to Barrick worth in excess of 6 bn but for a merger on a straight basis would be 4 ABX for each RRS presumably by the issue of new shares. Great move for ABX but other than generally positive I don’t know what it will mean for us in ACA. My own view is that ABX will continue with repurchase of our shares and conclude 50% sale to Chinese. Randgold/ABX with Chinese involvement going forward make a spectacular combination. Looking forward to see what tomorrow brings.

Interesting find Super - from companies that usually criticise each other Bloomberg seem pretty convinced a deal is likely - still no firm news but updated to:- https://www.google.co.uk/amp/s/www.bloomberg.com/amp/news/articles/2018-09-23/barrick-gold-randgold-in-advanced-stages-of-merger-talks I wonder where that leaves us - we have JT comments about selling ACA then this merger with Randgold who are strong in Africa. Sell ACA to Chinese and then merge with Randgold or merge with Randgold and use there expertise to sort out GoT- either way good news for us but I hope sale completes with Chinese- shortest route to glory!

Good one Super.

And looking across at the trades now shows a net 2m shares brought after the close. I think the long wait is over.

HH, I really struggle with this - do you mean that the figure represents the trades that actually did not get filled during the day but were in the system?

Hi Super, the 4mill is the uncrossing trade which I have been told many times means nothing but it is exceptional large and dispute what I am told it must mean something! Interestingly there are a net 800k buys after the bell so your comments remain true in any event. News over the weekend perhaps?

Yes and the targets given are for ACA as is ie no deal with GoT and no sale - include those and the price jumps.