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M, I can only agree that once again the media have enjoyed repeating ever story with more and more panic, I frequently have to question their understanding and motives. I also agree that £18 is perfectly possible - I note the rise whilst I was typing my original comment but the RI and warrants will likely set the low point (not always). My biggest concern has to be the way that this has been handled by the BOD which in some ways is more concerning - hindsight is brilliant but surely they should have foreseen what would happen with a delayed, unidentified RI in the wind?

Seer, I don’t like shorting and do not do it but whilst it is legal you have to respect the skill base - here and with a growing list of companies, they have seen the writing on the wall and shown their willingness to act.

I admit to being truly shocked by the SP today. I remember the warning past performance is no guarantee etc. but £6.50 for this share?

I am lucky to have held off but still feel reluctant to step in before the RI is announced, this reticence may ultimately cost me money, there are very few opportunities like this in the market and as HH has pointed out there is very little chance that MTRO will go bust.

I realise that my next comment will be unpopular but you do have to respect the skill of the shorters here - once again they have shown an understanding of the market that frankly puts everyone else to shame. Their decisions now will be pivotal but I can’t see them needing to do very much without RI details coming out and they will know before the rest of us.

If you are holding then I feel your pain but once the dust settles this share will rise, how far is anyone’s guess but mine would be £9+ within 12 months, if you are waiting and watching then the question has to be when to buy?

P - some people just should not be allowed to have a pet.

Yes Sure, throw away a $4 billion investment that would really teach them.

Details of the agreement between ABX and GoT have still to be provided to ACA board - why?

‘Update on Discussions between Barrick Gold Corporation (“Barrick”) and the Government of Tanzania (“GoT”)

Through the quarter, Acacia has continued to engage with and provide support to Barrick in its direct negotiations with the GoT. On 20 February 2019 the Company noted further announcements by the GoT and by Barrick regarding their direct discussions. Acacia is looking forward to receiving a detailed proposal for a comprehensive resolution of Acacia’s disputes with the GoT, once Barrick’s negotiations have been successfully concluded, as Acacia continues to prefer a negotiated resolution that will benefit all stakeholders. Any proposal received by Acacia will be subject to review by the Independent Committee of the Acacia Board of Directors.’

International Arbitration continues in the background if no resolution is found-

‘International Arbitration

A negotiated resolution remains the preferred outcome to the Company’s ongoing disputes with the GoT. In 2017, however, BGML, the owner and operator of the Bulyanhulu mine, and PML, the owner and operator of the Buzwagi mine each referred their current disputes with the GoT to arbitration in accordance with the dispute resolution processes agreed by the GoT in its Mineral Development Agreements with BGML and PML. The commencement of arbitration by BGML and PML was necessary to protect their respective rights and interests and to promote a sustainable resolution of disputes. These contractual arbitration processes have continued through the first quarter of 2019 and the international arbitration claims are progressing. The hearings are scheduled for the beginning of the third quarter of 2019 and we expect the Tribunal’s findings to follow in the later stages of the year.’

To be honest GH if you do not view the fundamentals here as good then I think you may be in the wrong game. ACA’s SP bears no resemblance to its value let alone the uplift from anticipated M&A action but of course do your own research and make you own decisions according - I do.

Barrick (GOLD) shares need to rise just 10% from where they are to be at $15 which would be the perfect point for them to offer us a deal based on 2 ACA for 1 Gold - giving us £5.75 a share - sorted!?

I was determined not to comment today as I feel this is an opportunity that I want to maximise on - others may choose to sell and put all this behind them but I think VV has really hit the nail on the head. ACA have announced what is effectively a $6 million loss of profit ( that it believes it will make up later in the year) and the market cap has dropped by $129 million - do you really believe that this is a market reaction? I believe it is the shorters having another go - this is how they operate and it’s working. We all wish we had followed HH’s advice and top sliced at £2.50 plus - I am down £300k from there on paper - but we could not know the future and I was not willing to risk missing the rise that I still believe will come - I do not pretend to be happy but I have not lost faith in the fundamentals bad nothing has actually changed.

Barrick announce their prelims on the 18th they presumably hope that this might help lift their SP - who knows but it is another step towards announcing the deal - if this is all to much for you and you see better opportunities elsewhere then sell and get on with it otherwise we are still awaiting the news that we have been expecting for a while, whatever you decide I wish you well.

Can’t hurt:-

BARCLAYS RAISES ACACIA MINING PRICE TARGET TO 250 (225) PENCE - 'OVERWEIGHT'

Hi Pat - I have been watching. MTRO must represent a great long term opportunity at these levels, they don’t seem in any rush to sort the RI - suits me.

Interesting article on ZeroHedge, which outlines Basel 3 and may explain why so many Governments have been buying gold lately. It reads like it has been translated from Russian but bear with it. In short Basel 3 allows Government/Banks holding gold to value it at 100% (up from 50%) in their reserves. With the current sentiment towards the US$ despite its grip on world FX, the effective re rating of Gold makes it a very desirable commodity. Worth a read.

https://www.zerohedge.com/news/2019-04-09/gold-basel-3-revolution-once-again-no-one-noticed

Well thanks DK - I leave you with your well reasoned argument and get on with something else. Just a thought, have you taken your meds today?

Well DK that just goes to show how little you actually know about ACA or what is actually going on or even who with. If you want to try and shake us then you will have to work a lot harder. Go on have another go.

P is it you that has INDV. Bad day sorry. Presumably you are holding on now but are you adding as the drop seems pretty steep? I am tempted myself but I think this could well be a long process. Just seems to be one shock after another lately with JOG, JUST, SAGA and now INDV - I have been sitting on my hands so far and that has worked out as they have all sank further from initial drops - scary.

Seems a little harsh DK - unless they have been provided with the details in the last couple of days the ACA board have not yet received formal notification from Barrick with the terms of the proposed agreement with GoT, in the meantime they seem to be doing quite a good job given the obstacles they face.

Anyone else notice that the normal market size has increased from 3000 to 10000 - I remember someone complaining about it in the past . 10k is useful as that guarantees the price you will get if you trade within range.

That would be quite a stretch P - where would you stop - the same continent? If you are trading 3000 shares a time that would give you about £200 a time, do that a few times and it suddenly becomes interesting - make sure that your first step is to buy at £1.93 ish that way you might also get a nice surprise. Trying to pick the point where shorts go long is normally almost impossible and by the time you have spotted it the price has shifted (although that may still be a reason to buy). The link between Odey, MW and BlackRock is long established here, we just have to live with it. I note that JT has been presented with a $9 million bonus - fair enough in my view, he facilitated/pulled off the Rangold nil premium merger and 29% increase against a peer group achieving 7%. He gets shares which he has to hold until retirement - works for me. He now holds 5.2 million shares MB owns 5 million that shows commitment in the strongest possible terms. Barrick results:- https://barrick.q4cdn.com/788666289/files/annual-report/Barrick-Annual-Report-2018.pdf Page 59 I think covers ACA - detailed explanation of current position but nothing new. Don’t forget it’s new ISA period - £20k.

Only a small point I know but someone might care to point out that it is actually against the Sex Dicrimation Act - UK I know but I would expect Canadian / US law to be similar - to state that you are looking for a female Director to replace María Ignacia Benítez who sadly died of cancer - surely they are looking for the best person for the job who might be female. I realise I am nit picking but if they had said they were only considering men there would be uproar!

By sheer coincidence I have just got this sent through from Barrick. https://barrick.q4cdn.com/788666289/files/agm/2019/Barrick-Information-Circular.pdf

Thanks VV - if you are going back to check then would you mind establishing if you are able to transfer out the CA$ to another bank or platform without cost as 1% feels steep for a currency conversion - dimi pays much less. I use these shorting sites which are useful - only short holdings over 0.5% have to be reported and I am reliably informed holdings below 0.5% are normally at about the same level as those reported but over more accounts but we do not have any evidence of that. Also don’t forget that ACA only have 11.5 million shares held in private hands which on a low volume share like ours gives the shorters a great ability to move the price on what otherwise would appear to be a small %. The shorters position has varied from nothing reported to about 2% from memory currently 0.79. https://www.fca.org.uk/publication/data/short-positions-daily-update.xls https://shorttracker.co.uk/company/GB00B61D2N63/