Member Info for BIGBangs

Hope you are right deos but based on what - following the events of the last few months I am not expecting the results to shine and the simple fact that the shorts have increased rather than closed suggests I am not alone?

Probably as good a system as any - I will be adding on any dips around £5 but if it rises all well and good for me. ATB

Day is not over yet but happy to have got it wrong.

I have been out of this stock for a while grounding, would you update me, where is the cash held and in what currency? Thanks

I will admit to originally having my doubts about the ability of our board to act at this level and thought that Barrick were best placed to be handling the negotiations but the i was wrong. The ACA board are doing a sterling job with production and I feel that they can be relied upon to look after the interests of minority shareholders which is not easy when you are dealing with a company as powerful as Barrick lead by someone with the commanding personality of MB so thank you ACA, keep it up. Looking forward to updated production figures. 2:1 is a fair offer.

So do we speculate that this will test £5 again today or have another bounce up to £5.80 first? My bet is £5.10.

Yes very interesting update. Time is running out for Barrick to sort this out. If the market worked as it should our SP would rise today but we are being held back by the low offer. Barrick have yet to trigger the push me pull you clause as their offer is indicative but other interested parties will definitely be considering their position. The best result for us would be for the GoT to remove the unreasonable amendment and resolve the dispute enabling Barrick to put in a fair 2:1 offer, it is almost too late but not quite so I remain hopeful. Personally I am not afraid of arbitration and it looks increasingly likely that this is our best indeed only route as things stand.

Generally my experience is that whatever today’s low the Yanks will take it below that tomorrow before they allow it to go up beyond today’s high so if you are trading the share keep that in mind - or of course they could do so thing entirely different.

Well I really want to believe that Barrick are using recent actions to push GOT into finally agreeing a resolution although I do not understand why GoT would not want to get this done. I have been wrong with my timings throughout this process and it could be that 2020 elections could be the key as you suggest F but if I was one of those chiefs waiting with my hand held out then I would go for money on the table now not a promise of some tomorrow or next year. The press speculated that our case would be heard mid July with a judgement passed down in the Autumn but even if we have to wait until 2020 for a resolution and a fair offer then I would prefer that to accepting the derisory offer currently on the table - the GoT have pushed this as far as they can they now risk the $300 million agreed but also having to pay $1.3 billion plus in compensation to us for their actions following the false accusation. If the GoT now suggest other corrupt practices to justify their position the court will see this for what it is - just another attempt to squeeze money from us. The deal on table was acceptable, it is only the last minute refusal to include ACA as a party to the agreement (although being pointless) blocking resolution.

4 working days remaining for the GoT and Barrick to come together on a form of words that achieves a resolution to the dispute and allows Barrick to increase their offer to something that might be acceptable to minority shareholders. If they fail to do so they will be stopped from doing so for 6 months and the Court of International Arbitration will hear our case. Does anyone think it remotely possible that we were producing significantly more gold than we were declaring and managing to hide the proceeds from all of our regulators? If we were then we are probably one of the best producing miners in the world and someone needs to show us where the money is hidden but if, like me, you don’t actually believe that is the case then any decision must be in our favour and help us realise our true fair value. The increasing gold price is a distinct advantage and also the strength and determination of the Institutional investors by our side. ATB - hold hard.

Thanks L99 - I found the information helpful. When considering each point in turn I agree that the current SP continues to represent a buying opportunity. I am fortunate not to have bought in until after the big drops but now hold about £150 which I purchased at various points over the last few weeks so breaking even - I plan to keep adding probably up to £7 when I will review although at this point intend to hold for at least a couple of years. ATB.

Hi dimi we have missed you. I think you probably know just as much as anyone else and certainly as much as any of us on here.

Just to prove I am not going mad:-

Gold Price Today
Current Price $1,390.23
Today High $1,488.41
Today Low $1,382.76
Today Change $-19.28 (-1.37 %)

Must have been a glitch on the gold price system now showing down $21. Oh Well.

Gold price up $76 as I type! ACA Down will move soon added another 10000 shares.

You are probably right on that ASW and as John points out we are all investors here, I am actually increasing my holding so whatever the issue is I am sure that it will be resolved and the SP will get a lift from these low levels.

Thanks John, really no need for us to argue but as you have declared your history I will share mine. I was for a number of years before taking up the position of CEO of a listed company the FD of a small motor group turning over at that time just short of £200 million and I can assure you that whilst the sales person would have no need to be aware of the accounting practices used by the group the board would be very aware if a particular product or service produced an advantage and would encourage it. The cash flow benefits derived from legitimately delaying the payment of VAT can produce millions of £ and is never overlooked. Having said that I am just speculating as to what the issue maybe, I have no idea what it actually is.

Thanks for replying John. I would suggest that none of the figures that are reported within the accounts are directly part of the sales process. The board are interested in such things as cash flow and tax matters if a particular method of sale holds advantages to the company then the board through its management structure target and incentivise the sales force to sell it - so everything is actually part of the sales process. But as you eloquently put it we are just speculating until specific news is released. ATB

Thanks Tom, I am not worried, I have invested because I appreciate this is a good company producing a great profit and giving an excellent dividend but I don’t think even you can say what the issue is or isn’t and until we are told. Discussion boards whole reason to exist is to comment on news and speculate as to what that might mean and if that stops you would presumably be left commenting to yourself.

Although I obviously have no idea I would guess that the issue could be something to do with how they account for VAT. I believe when a dealer sells a car on PCP they only have to account for the VAT as the payments accrue giving a significant cash flow advantage. The full accounting process has to deal with all payments including the balloon/final payment and there are many areas where this process can potentially fall down leading to an underpayment of the total VAT due. If it is this that has let them down they will not be alone.