Member Info for BIGBangs

Hi Visitor - I agree that margins are tight but you are forgetting the exceptional items - sale of low producing mine and some $11 million (!!) spent on legal fees. The EBITDA is strong and the fact that we have achieved positive cash flow when set up to operate a much bigger business is to be applauded. If we can tread water and turn a profit whilst we are waiting for news then I for one will not complain.

Sorry Arbitrader.

I agree Airbender but I think the board of ACA have a right and possibly a duty to insist that they are kept fully in the loop if not at the table. To be kept in the dark suggest that they cannot be trusted with the information which would raise a whole new set of concerns. I would be happier if they were fully briefed even if that meant that they were not allowed to discuss it when asked - surely that would be the normal approach?

I have not made it a secret that I am positive as to the future and admit to my frustration about the continued delay and lack of company involvement to protect the share price through an active campaign of buybacks. I have to ask myself what can be holding things up - my biggest concern about the GoT ‘requirements’ is that GoT require us to hold our main banking account in Tanzania and therefore presumably in T Shillings - this would worry me for a variety of reasons not least security and the risk of a revaluation of the shilling - I can’t see what else is a sticking point after all this time. I would be interested in what others believe is holding this up for so long?

Yes asset value from accounts is I believe $2.80 per share which will not include gold in the ground although my target figure is £4/£5 (sterling) which as you confirmed re Ivanhoe is achievable. Will watch Barrick report next week but as others have pointed out the announcement will be made when they are ready and not before. Aca Director comments do lead me to believe that it might well be that deal with GoT will be announced first and subsequently an announcement about a Chinese deal - not what I would have done but I will be happy with either.

WQ take their short up to 0.6 then to 0.59. I am sure I don’t care but simply report for good measure.

I will gladly buy them a new one if they get this deal sorted!

Thank for coming back Denby it it is worth anything I think the Saudi’s still want the oil price up and so $76 a barrel and up seems a good bet!

Hi Super, the figures today are not bad we are generating cash, have a healthy cash balance and lots of gold in the ground. I am frustrated by the continued delay but eventually it will all come good. The share price bears no resemblance to the asset value and is simply a result of people taking advantage of the system - if no one sells then they cannot win. Aca will not go bust and one day a resolution to the current dispute will be found. I can’t see any reason now why the company does not start buying back its own shares a couple of million investment would change the face of the share price and give much needed relief to its real investors.

Hi Denby glad that you think that you have called the bottom and closed your shorts. You have simply used the market to make some money and surely we cannot blame you for that - it is legal, you saw an opportunity and you took it. What other companies are you watching/shorting?

I registered to ask a question today but was not put through - perhaps private shareholders simply don’t matter? I had hoped to ask something along the lines of - noting that the company is now cash positive and that we have $120 million in the bank would now not be a good time to start a share buyback. Aca is intending to spent $15 million on exploration I would suggest that investing in our own company would offer a better return. Directors have a responsibility to all stakeholders but according to the Companies Act their first responsibility is to shareholders - shares are being manipulated and trade at half the asset value Buyback should start now!!

Still no news of deal so we continue to wait. A couple of points of particular note to me. “Based on Barrick’s announcements and its discussions and exchanges with Acacia, it is Barrick’s belief that it will be able to agree with the GoT a detailed proposal for a comprehensive settlement of the situation, and that this will be in a form that Barrick could recommend to Acacia for review. Key assumptions applied in these calculations include a 50% economic share of future economic benefits for the GoT in the form of taxes, royalties and a 16% free carry interest in the CGUs, as well as a US$300 million payment in relation to historical tax claims paid in instalments as concentrate sales recommence.“ So the 50/50 split of economic interest includes the 16% and the $300 million to be paid in instalments over time. “Using the latest information received and updated with the latest understanding of the framework agreement between the parties, the carrying values of all our assets are still below the Company’s view of its recoverable values.” A listed company has to reduce its assets if its share price falls below its asset value - ACA have reviewed this and remain happy that their asset value is correct. Which reads to me as stated asset value of $1836131 less liabilities of $684190 equals net assets of $1151941 (000) giving a share value just based on net assets of $2.80 plus the value that using those assets will produce. I would have liked more of an update on the discussions but I can accept that until a deal is done that you need to play your cards close to your chest but time ticks by and a way forward needs to be agreed and get us out of this limbo we all find ourselves in. Interested in others views.

Thanks T, no need to explain you must make your own decision - it’s your money - news of deal with GoT will likely have a bigger effect than buyout but I wish you all the best with whatever you do.

And if you are really brave take a look at this one - someone, someday will have to start paying it all back:- https://www.nationaldebtclocks.org/

Well Treacle, I don’t pretend to understand how the market works. I have survived a number of recessions and sleep well at night. For the moment at least I think ACA have to a large extent broken the link to the gold price but will be affected by a deal with GoT and a the potential involvement of the Chinese. It is the gold paper market that seems cavalier - through the generations mining companies have managed to produce 20square metres of gold and everyone seems to acknowledge that new large finds are becoming increasingly rare and it costs more to get it out of the ground - if the market worked as it should the price would rise and indeed for every expert that says the price will fall another says it will rise - it will do both but to be honest I don’t care. For the moment I only care about what will happen at ACA over the coming days or weeks - then I will think again and invest accordingly. Finally, the market does not work as it should, if it did the dollar would collapse - a friend of mine keeps the following link open on her computer so that she does not forget - I encourage you to take a look and then decide where it is best to put your faith and your money. https://www.nationaldebtclocks.org/debtclock/unitedstates

Well I now have c 210,000 shares. Super did you add any and what about you Treacle and MP, did you join us? Interims will be released tomorrow but will there be any other news?

Great poem but I think you are the Hollow Man. We will get a vote. Good quote Opium.

Interesting article suggests that gold price represents a great buying opportunity for both physical gold and miners. Every little helps. http://www.321gold.com/editorials/thomson_s/thomson_s_071718.html

Good to hear from you MP. Nationalisation would be the end for Tanzania - no more investment, no more foreign aid. I think they took the most drastic move they were prepared to take - it had hurt them and now they like us will want to get an agreement and move forward. If you are inclined to buy then I think the downside is small whilst the opportunity is significant- but you already know that is what I believe and you must make you own decision.

If that is all you are aiming for then you should be pretty safe Vijay.