Member Info for BIGBangs

Yes VV I was looking at POLY not so long ago at £7 ish but didn’t do anything about it. I was attracted by the gold production and the fact that it pays a dividend. I think I was put off at the time as Russia was in the news for all the wrong reasons and I was expecting sanctions and of course Kazakhstan is pretty much a law unto itself - but looking around at other gold producing areas I probably scared myself off wrongly - certainly if you look at the rise in the SP since then. I think it is a firm favourite for FTSE 100 which as you point out is only good news. I think I missed the boat with that one and with today’s drop in FRES I took the opportunity to buy in there - for better or worse that seems to be my modus operandi. At the end of the day I think the important thing in this market is to protect your capital and I think both companies tick that box.

Thanks VV I have had a read through of BMN - I never do well on AIM so not one for me at the moment but I will put it on my watchlist - best of luck with it though.

Yes fingers crossed for a fair offer we can all accept.

VV what’s the code for Bushveld - which market?

Actually fortune favours the brave bought 6000 dimi - just seems to cheap with stable gold and rising silver - ATB

Tempted myself dimi Down 81p but I think I have enough exposure to gold for this week anyway. Does seem like a good price though......

Interesting to note that FRES suffering today on slightly lower production figures and concerns over future government policy - this despite lift in silver price - no one has it easy.

Yes Frankly, I too am hoping that the suspension of arbitration is for a good reason. I personally hope that ACA stay firm on the deadline and I would not be unhappy if Odey and Fidelity were involved in the actual discussion process/meetings they hold the key to this and will not be afraid of some straight talking - love to see a picture of Bristow and Odey facing off!

Depends if ACA act quickly this time to lay off staff and enter into care and maintenance - spend nothing they do not have to a fight back hard.

Certainly agree that we are under the most pressure politically (although CEY have their fair share of problems in Egypt) but we we also have a growing cash pile and at least £300 m in gold at the docks - a resolution to the dispute is in everyone interests and must be on the cards.

CEY and HOC announce their results today.
HOC produce 161160 half year - let’s say 222320 ounces per annum (plus silver I know) but Market cap of £1037m.
CEY produce 234096 half year - say 468192 ounces per annum, market cap of £1336m.
ACA producing 500000 ounces with potentially 1m ounces in full production - market cap £745m - draw you own conclusions and watch your stop loss prices if you have set them anticipate all sorts of tricks today and tomorrow.

Ok it’s early - double existing offer is, 0.306 which I have decided to read as 3:1.

Or of course it could be the old tactic of float a really terrible deal so when you offer just a bad deal everyone breathes a sign of relief and takes it. A fair deal is 0.5 to 1 (2:1), a terrible deal is 0.153 (6:1) so just possibly the bad deal at 0.25 (4:1) suddenly looks tempting. MB will have no problem with his shareholders whatever deal he offers, gold price and £ working for him, Fidelity suggested the old ‘offer’ was 50% low which I take to mean 0.36 or 3:1, bear in mind all share offers are normally higher than cash offers as the acquirers cash flow is not damaged (actually improved) so at this stage in the game I would be happy to take that and probably keep Barrick shares. I still think a revised offer will come in today or tomorrow I am just hoping it is good enough. GLA

Hi Pat - MTRO is a challenge to call - I added 5k shares today at c£4.72 now have 25k shares at £5.15 - we should be safe but goodness what a ride.

Noted Barricks SP - as you and Franky have made a call I will say 0.25 Barrick for each ACA - not enough but probably pull board onside as for Odey - well who knows?

I am finding this just impossible to call - I had 20k shares at an average of £5.20 and thought I was sitting pretty. Never expected them to drop meaningfully below raise but there you go - added another 5k shares at low £4.70’s - let’s see what the results bring us. Longer term (6months plus) very confident that I will be showing a good return. Let’s see.

I can only agree dimi - I do not want this to drag on further - to be honest I am probably too emotional about this stock and would much prefer a fair (ish) agreement with Barrick which like you and apparently Odey think is likely this week. If it does not turn out that way I think two things will happen - a bitter arbitration dispute that we will eventually win but also I believe Odey will launch an action against Barrick which I would be prepared to support in every way including but not limited to participating in funding an action group that he might set up. If it comes to it Barrick are wide open here and they should bear that in mind when negotiating. 3 days it not long to wait. A little fed up but hopeful. Hold hard.

I fear there could well be litigation against Barrick if this ends in tears - I believe they have laid themselves wide open for a variety of actions and the very bad publicity that would bring. Unless they pull a rabbit out of their hat any potential minority partner will be wary about teaming up with Barrick - they are big enough for this not to concern them too much but calling their integrity into question will be used as a battering ram by anyone else who thinks they may have a claim against them. They stepped headlong into this (after offloading 34% of their holding at £5.75) from the point where they took over negotiations they had a responsibility/duty to deliver the best deal to the minority shareholders and not to feather their own nest. They, not us, have been negotiating for 2 years (using our money for the legal team) yet here we are no further along, if anything, on the face of it at least, in deeper conflict than we have faced before. Very poor work. They have the opportunity and the incentive as the 64% shareholders to put this right and improve their own SP. Pay us a fair price - sell to the Chinese or do what they like but they have to pay up.

Well Odey is buying but is more than capable of pushing the price in the direction that it suits him before he takes another chunk - the RNS’s show the truth of his intentions. To be honest Super I find the spirit of your comments in contrast to your strong buy opinion but you are time served here so you have every right to say what you feel and we should listen. I have held off adding but I will not be selling.

barns- Interesting comment or no comment from MB - he surely wants out of Tanzania but if he has a deal lined up with the Chinese - as was suggested by JT - then he should be prepared to stump up fair value for us minority holders.

My biggest concern with your post Super is that you are saying this after you have been talking to ACA and it’s advisors - did they leave you with the impression that a deal would not be reached?

Personally I think that trade could have been a client switching between accounts from Tading to ISA or SIPP or switching between companies in the same group as seems common for some reason.

Hate to say it but those guys are good - 4.4 million sells against 6.8 million buys and the price falls 7%.