Member Info for BIGBangs

Look at the run of large trades after the bell. This should explain the dip and put your mind at rest.

From ii London Market Report;-

‘On the London Stock Exchange, Antofagasta was the best large-cap performer, up 4.2% after the Pakistani government was ordered to pay damages of USD5.8 billion to Tethyan Copper, a joint venture between the Chilean copper miner and Canada's Barrick Gold.

The award comes after arbitration claims were filed against Pakistan following the unlawful denial of a mining lease for the Reko Diq project in Pakistan in 2011.

Fellow miners, Glencore, Rio Tinto, Anglo American were up 1.6%, 1.5% and 1.3%, respectively. ’

This is definitely good news for us Barrick SP likely to rise at US open.

Hi Redbeast. The Rangold position at the time of the Barrick merger was totally different and basically fair - I looked at it as more of a takeover of Barrick - that is not the situation here. I would still prefer a Barrick takeover but only at a figure that represents something like fair value and certainly over £4 or being aware of the risks I would prefer arbitration and negotiating with GoT ourselves. Not wanting to suggest it but even offering GoT an additional $100 million, which would open a lot of doors, would be preferable to capitulating to Barrick exploitation.

I agree that ACA should not be afraid - they have shown strength so far but a negotiated settlement with an improved offer from Barrick is still the best option for everyone. Only 5 days to find out.

Hi dp - I think the best we can say is that it very well could be closed but until we are told this officially then we are just speculating. Personally I feel the DOJ will get ‘a few’ million from INDV because they can without too much effort but certainly not 100’s millions - I do think settlement will be reached very quickly now.

In answer to an earlier point - INDV will have no liability to RB towards the settlement they reached with DOJ, perversely if RB has seen it through to the end it is just possible INDV could have had a liability to them but not now.

That was odd:
certainly if the price drifts any lower. The way I see it is worst case Barrick’s existing offer gives a premium and I feel, things will improve one way or the other. GoT and Barrick have the greatest risk by not settling and I still think, perhaps wrongly, that they will see sense.

Nice one dimi - so Barrick are not afraid of arbitration. We should send this to the Bulldozer. I have decided to take my holding to 300k shares next week - certainly if the

I think you can day trade in most accounts although I never do. To hold the shares in a normal brokerage account you need to complete a form re US Tax - I did mine online. I agree the battle is far from over and I feel as strongly as you do but best prepare.

Ok Super but if the board go onside you will not get the option to keep your shares so if your account does not accept foreign companies you will have absolutely no choice but to sell.

I do take you point Super but if the company by majority of votes determine to sell then you have no choice. You can decide not to become a shareholder of Barrick by selling your shares in the period between offer and completion but that is the limit of your control. I agree that we have not been treated fairly as I had anticipated in all my comments - right up to the point when Barrick tried to shaft us. I agree that we should get over £4 - I had anticipated we might get £5.75 and I still hope that with higher production, the improving gold price influencing Barrick SP and a bit of a tweek things may still turn out ok, not great but good enough. Please don’t let it get to you, you are our voice of reason and we need you - you know how the market works and it is rarely fair.

Sorry to see you go but I fully understand you position - everyone must make the decision that best suits their own circumstances. Good luck with your next investment. I will probably add a few more next week who knows?

Hi Super, isn’t that sort of the position we will achieve if an acceptable offer is not made by Barrick during the next 5 working days for the next six months at least? If an improved over is not made then I would strongly suggest that ACA make contact at the highest level with GoT and offer whatever deal they can justify which could lead to resolution - yes I can see the GoT coming away with an even better deal than they currently have (that is the fault of Barrick for not sorting this out amicably over the last 2 years) but the benefits to ACA and therefore our SP would be significant and certainly much better than Barrick’s offer. Of course we keep the arbitration process going until a deal has been signed and implemented.

Everything scares us and the market but the reality must be even if GoT visit and create some issue it is not likely to have much influence in our negotiations with Barrick. If no acceptable offer is forthcoming it will surely be for ACA to take over the negotiations and deal with GoT directly. There are many ways we could sweeten the pot and still end up with a much higher SP than we are currently being offered. Hold hard.

Sorry MP - I called LOOK wrong - I’m holding for the dividend but am unlikely to add. I sold out of LWB too early could have doubled my money!

Pure speculation of course but the DOJ are likely to want the case resolved with INDV quickly and quietly. Why? Because they have had a major result receiving $1.4 billion from RB over what was a disputed liability - let’s not forget we maintain that our drug was a solution to the problem not part of it - so if INDV went on to win the case in open court there would be issues and appeals in relation to the RB settlement. In a perfect world DOJ will close this down now, they may ask for a face saving token payment but it is a risk if they take it all the way -$1.4 billion is a career making win for the guys involved they will not want to risk it. Who knows.

I think we are getting closer to the truth but we are still only guessing until we are properly informed. The DOJ don’t need to amend the papers if anything they have taken a payment on account, they may consider that is enough or they may try and pursue INDV directly for more - could go either way. RB settled for their own reasons, they are a big player and although it must hurt they have decided it is worth it. I see no possibility of INDV making a payment to RB unless this was part of the settlement agreement with DOJ which is unlikely. INDV do not have a legal liability for the decision that RB made and cannot just hand money over without shareholders approval which is not going to happen. I hope this is case closed but I suspect that DOJ may want more probably not a great deal but they smell blood - my bet $100 million which in any other world is a lot of money! If the case is over or a settlement is agreed we should here soon.

Trying to follow you RBT - the DOJ said that RB were not off the hook because they had sold INDV even if RB wanted to rely on a clause within their sale agreement that suggested NewCo were responsible for all liabilities. The DOJ pressed RB and will get $1.4 billion, in my view relating to the time INDV was under its ownership. This settlement might be enough for DOJ but that have ongoing proceedings against INDV - either way the DOJ will view the settlement at a combined pot and as they have persuaded RB to settle they are likely to feel confident that they will be able to squeeze more money out of INDV to do the same. INDV will have to decide at what price removing the threat becomes sensible.

Hi C, I certainly read it and it makes sense that new co INDV will only be contesting actions since 2012, RB having dealt with everything before then. I can’t get excited either way about a couple of pence up or down, I have not invested here to make pennies and feel that resolution when it comes, be that payout or court action will see the SP lift significantly to more realistic levels. The reported figures should give everyone confidence that the company is operating well and will not go bust and that is pretty important to us as investors.

If I was not invested I would give it a miss for now but as I am will hold - P/E just over 3, plenty of cash to pay dividend but a drop might be considered, well, if expensively, managed, damaged by FCA involvement but historically a better performer than similar companies. Best to let the dust settle for now and then think again.

I think your brokers actions could give you the wrong impression of the market which could well affect your decisions. Still, in my opinion a great opportunity here.