Member Info for BIGBangs

Dimi, I look around the market and feel underwhelmed. The physical gold price is manipulated by paper options, other commodities and equities in general jump around on tweets by DT and I have little confidence where to invest so I sit on my cash. I will buy more here and probably MTRO (contrarian play) but little else peeks my interest. CEY is a mess; FRES keeps falling; Glen at £2.80 should be a buy but isn’t; KAZ still has the Russian deal hanging over it; PFC still no resolution with SFO and allegedly loosing contracts; CNA badly run and under threat from a Labour Government; VOD = massive debt, I could go on. I am told I should diversify, no thanks. Although I accept that we may have actually entered a new era for the stock market and that continually printing dollars seems to make no difference I still believe that at some point the bubble will burst and my ultimate aim is to protect my capital so as boring as I do find it, I sit and wait. The occasional opportunity may present itself and I hope I take it but if not another will be along soon enough.

Hi Pat, its even painful to watch the MTRO decline RI should give it a bounce, surely can’t go much lower. Happy to miss the bottom but will hold off until announcement.

Investing with hindsight would be a marvellous gift. We would not have been in until this hit 95p sold out at £2.65 but we didn’t - you know what they say P, the show is not over until the fat lady sings.

Sorry dimi but it has been my experience that when CEO’s refer to the needs of all stakeholders that the people who suffer are the shareholders. I would remind all directors that however politically correct/expedient to site the needs of all stakeholders their legal duty is to shareholders.

Hi dimi, I don’t really see how the current board can carry the can for this - they were appointed as interim following the departure of the old guard that the GoT did not like. I prefer to think that they are trying, from a difficult position, to get the best deal for minority shareholders but there are just to many unknowns for us to make truly relevant comments.

Well Elly, that is a very interesting article. I am a little confused - ACA have stated that they have not been formally advised of Barrick’s proposal but MB’s comments suggest that they have and they object to Barrick voting themselves - can’t both be correct. Surely if Barrick are proposing to buy the ACA shares they do not own then they cannot vote on the deal - if they are proposing that the Chinese buy ACA then surely they can - the problem arises presumably because Barrick might want to buy ACA and sell in whole or in part to the Chinese which I think they would probably have to disclose and ACA opine that in such a situation Barrick should not vote on the deal. Tricky. I would suggest it depends on the strength of the proposal - if it returns us the minority shareholders at or about £5.75 then I would ask ACA to stand down, if it is significantly less then they should press on with their objections. I can’t help thinking that the solution rests with Barrick either make the deal sweet enough to remove objections or they could table a motion to remove the directors and replace them with people who will vote as Barrick direct (as 64% shareholders this would presumably be a formality at the AGM) but if they were seen to be prejudicing minority shareholders there would be major implications for them. Barrick pay up and move on - unfortunately until then the shorters have floor.

Investor6. It frightens me to read you have a large investment that is now 80% down and that you are new to trading but that is your business.

In answer to your questions we do not know. We hope that it will be a RI (ie everyone is allowed to buy depending upon their current holding) people on the sidelines (like myself) would hope for an opportunity to buy in. It would be dependent upon the date that the RI is to be determined to take effect ie holders on the day of the announcement or at some future date they announce. I would love warrants to be offered on the RI shares but i don’t think that is the most likely route. Alternatively the fund raising may be as a placing to institutional investors which would exclude us and although not my preferred route it would at least underpin the price. I wish you luck.

Barrick announce strong 1st QTR results, within they state:-

‘Africa is a high-risk, high-reward destination which holds two of Barrick’s Tier One9 gold mines — Kibali and Loulo-Gounkoto — and the promise of more to come, but those assets which do not fit the portfolio profile are likely to be divested.’

Acacia Mining: Peel Hunt downgrades to hold with a target price of 215p.

The news that Newmont has suspended its mine in Mexico is troubling but when you look at the massive (10x) use of water to produce a negligible amount of silver per tonne of ore beggars belief - feels to me like sheer exploitation of the country and has to be addressed. Only once situations like this are resolved can the a good working relationship be achieved with the local community and the Government which has to be a good thing for all miners within Mexico.

Have I missed a post where WB discusses breaking his normal rule and buying into gold?

Pat - I thing ACA at £1 wins hands down as I can see £4+ on the horizon but I would not see the equivalent £20 for MTRO. Perhaps we will get 2 bites buy the first one that reaches target price then switch (taking a gain) as the other comes into play - that is probably being greedy but you never know.

Yes MB I just looked up your previous post, unfortunately you are spot on. Every time I begin to believe this is oversold something stops me hitting the buy button. I had geared myself up to buy in after the fall which will follow the ex div but I just can’t see any momentum to lift this up again afterwards especially with the continued risk of a Labour Government who would be willing to print money to buy back these assets - looks like I will continue to watch and wait.

So is this the Labour Party plan for all nationalised industry?

https://apple.news/Aq6JxMHkuQya6DSccIPBUSQ

Super I agree MTRO biggest short in the market and increasing following poor results - I have been holding off and that has worked out very well but there will come a point when I am likely to buy - not at £6 without RI but probably at £5 either way. My challenge would come if MTRO £5 and ACA at £1 - probably opt for ACA even though, as you know I already own quite a few.

Pat - have you seen MTRO - now £6.16 - this is another massive opportunity. I can see £6 coming and still waiting for RI. What do you think?

I’m not putting any timings on this again - despite working with the information publicly available I have got that wrong to many times. I cannot agree that the shorters for reasons we have been through more times than I care to remember are not the biggest influence on this share until the deal is announced. Could just as easily be £2 as £1, I’m torn as to what I would prefer but that is because I will only be adding and am under no pressure to sell.

I can not argue that it is possible that we could test £1 again - there was no reason for it last time and there would be even less reason this time but it could happen as the shorters have already shown us how they would do it. If it did happen I would buy all that I possibly could then finally just sit and wait.

There is absolutely nothing wrong with your thesis especially that a hostile takeover is impossible. The point I think you are overlooking is that if Barrick make an offer they cannot vote their shares so that leaves the other 36% to decide. We, as private investors hold 2.8% the rest is held by institutions that mostly bought in at £5.75 float and have stuck with ACA through all of this - they will not be bullied or panicked into accepting £3 for a company that is worth a lot more so regardless of the SP the company has a value (once the situation with GoT has been resolved) and that is what Barrick will pay - as for a premium - will we get £4,£5,£6 or 1 ABX for 2 ACA - who knows but that is your range.

p.s please give me a bottle of whatever Frank is on he is like a changed man - looks like I was totally wrong about him! Sorry for my past comments Frankly but you did not make it easy for me with some of your past comments but perhaps the fault was mine. ATB

M - although I have to agree with A75 on this your shorting simile is the best (and most shocking) I have ever seen. My dislike of the system certainly extends to the companies that lend out ‘our’ stock but as my buying style is increasingly contrarian, while shorting remains legal I have found a way of benefiting from it without getting my hands dirty.

Tried to hold off on replying to your posts WGR but really what are you on? The £85k guarantee is great. I spread funds over several accounts to ensure I am covered, I switch accounts to get a better (if often pathetic) rate. I am looking at MTRO 1 year fix now offering 2%. The SP does not affect my decision and I am willing to bet most depositors don’t know what it is or of MTRO’ s recent problems. To answer your question about how the Government would honour the guarantee is simple, in the unlikely calamity you suggest the Government would simply print cash - they do not guarantee the value of the £ to depositors or indeed anyone else but your attempt to scaremonger is misguided misplaced and pointless.