Member Info for BIGBangs

Actually VV - you have made a very interesting point there that I had overlooked. If Barrick are publish first QTR results at the end of the month and hope for a lift in their SP - which I agree seems likely - then that would be another sensible reason for their delay in finalising the deal with GoT/takeover. If their SP rises and they offer a share swap (2:1) then it makes sense for them to want their SP to be as high as possible at that time. Good point.

Thanks VV - did you get any opportunity to choose between ABX/GOLD. GOLD trade in US $ on NYSE and if given the choice I would probably choose those. Presumably you can leave the CA$ in you account and potentially trade on the Toronto exchange? I certainly agree about MB - the Newmont deal will be brilliant for Barrick’s bottom line. For those acquiring shares the current price represents a great opportunity - emotionally I am ready for the deal, practically I am adding from time to time and ready to act in a more substantial way if the shorters have another significant push before the news lands.

VV - when you have a moment I would be very interested to learn about the practicalities of receiving you Barrick shares in settlement for you Rangold holding. What shares did you end up with (ABX or GOLD) on what exchange and in which currency? Did they easily and automatically appear in you trading account? Had you set your account up to receive non UK shares? Have you traded any yet and if so what currency is delivered to your account and if not £ have you had any problem converting this into £ and was there a cost? I am interested as I still feel that we are likely to be offered Barrick shares for our existing ACA. Thanks

By the way VV - great first post - thanks for joining us.

Welcome VV - remember that the 16% shareholding to GoT is of a yet to be formed operating company in Tanzania. We all must draw our own conclusions as to a fair value post agreement with GoT and a subsequent offer price from Barrick or the Chinese - let’s hope we are not kept guessing for too much longer.

Stepek’s advice seems solid to me I will look out for his comments from now on. Saga been on my watchlist for a while and it looks like I have dodged a bullet. I was not convinced when BoD decided to buy ‘our’ own cruise ships but was willing to give them the benefit of the doubt. A big write down in goodwill is a subjective view - they still carry a lot. I have received various quotes from them over the last couple of years and whilst their name and reputation carried a lot of weight for me at the end of the day they were just not remotely competitive - hopefully they will address this and gain market share to develop further. Bearing in mind Stepek’s advice I will sit on my hands for a little longer - I accept that I may miss the bottom but when I do buy I will be confident of what I am getting.

STB this stock has shown significant variation over the last two years - I was at least £150k down at one point - I may be £100k up now but I was over £250k iup at the recent £2.68 rally - the fact that I am holding and anticipate significant gains should, on some level, give you comfort. Please try not to rinse and repeat your questions - nobody knows how much or when - investment in the stock market is a gamble - I do it for fun if you do not then find something else to fill you time.

Maybe not significant in your terms STB - I don’t know your level of investment or expectations for here or elsewhere but following my own advice over the last 2years has put me up over £100k at the moment - if that represents nothing significant then so be it.

I am watching this from the sidelines - at some point it will represent an excellent buying opportunity. In my view the value of the company considerably exceeds the SP. Talk of collusion with BP is pure fantasy the obvious obstacle to this share is the prospect of a General Election and a Corbyn Government. Whilst this event remains topical/not unlikely then the SP will continue to drift lower and new investors will steer clear unless of course it did hit £1 in which case I would buy in anyway as that would quite simply be too good an opportunity to miss.

Thanks dimi, interesting. This would presumably be outside normal electronic settlement and not form part of the reported trades we normally view after official close. But I apologise it happens! ‘ London Stock Exchange Extended Hours Trading Stocks can always be traded on the London Stock Exchange during regular trading hours (listed above). But there are also Extended Hours Trading during which trades may be made. There is significantly less trading volume during extended hours. Lower volume results is a larger spread, bigger price jumps, more volatility, and more risk. Extended Hours Trading allows investors to act quickly on information that comes out after markets closed. In the past, only large institutional investors could participate in Extended Hours Trading. Due to the emergence of electronic trading platforms, individual investors are now able to trade during extended hours as well. Depending upon your broker, you can usually choose to execute trades during pre- or after-hours or only during regular trading’

Guys I know some of you are Oillies (Super PMO). I note with interest that JOG are plugging one of their wells and SP dropped 50%. I have been burnt here before but this feels overdone - anyone following - got any views?

Pat - I am sure you will be happy with the £5k here. Soft Brexit, well maybe but it will tear the Conservative party apart to have May’s deal plus a customs union. I have made no secret of the fact that I would prefer a ‘no deal’ WTO exit and that I would have taken May’s deal as a compromise; at this point with the chaos we have wondered into then I would even accept the customs union as society seems to have been brainwashed that we cannot survive without one. I doubt that it will be easy to achieve and I do not rule out a General Election as TM will be going against her party and her manifesto to work with JC. I agree £ should rise but for how long - EU confirm tonight they believe no deal most likely outcome. ABX will be watching closely and probably take out option of £ - for us at least it will all work out well in the end.

Hi Pat, I am happy for you if MTRO is bouncing back but I am sure we have seen this happen with other shares only for the shorters who still have MTRO in their sites to spring the trap and push the price down again. I still think the time to buy is on the announcement of the RI - this could easily be at a higher figure. My comment on £7 was that regardless of RI I would have to invest anyway. I see value in MTRO and when I am sure of no more surprises I am sure I will buy. ATB.

Hi Super, I am fairly confident that the shorters do not get an extended trading day. All trades stop before closing auction. The trades shown after the bell are delayed trades that occur during the normal market day. Ignore the buy/sell indicator as it is meaningless as you do not know when the trade occurred and what the market price was at that point. At the end of the day don’t worry about the SP the shorters are selling shares to lower the price then buying them back during the day - if the market worked perfectly then the price would balance out but clever algorithms exploit the weaknesses in the system.

Can’t help following this through a little. If the £ drops to $1.25 the figure it was in January ABX would save $147 million based on today’s £ or $228 million from the price on 16th March - if I was them I would have someone watching that full time with a hotline to Forex traders - would you be in any rush? We get the same £ value but it costs a lot less in $ terms.

Only speculating of course but if ABX are holding off to take advantage of a falling £ then:- March 16th $1.33 today $1.3 = £ fall of 2.6% Guess £5.75 per share with 410 million shares which by my calculations = a saving to ABX of $81.5 million. What will the £ be worth next week? Easy money but who could blame them?

It would take an incredibly brave or foolish day trader to be shorting this stock - we are in the hands of professionals.

I have not seen a RNS? The drop has nothing to do with the market just the shorters doing their thing. The falling SP will have zero affect on the final deal it’s just makes the journey more unpleasant.

Hi Super, surely you are as surprised as I was that this set of accounts was not forwarded in the normal way to those of us that are registered for company reports/announcements? The accounts are good but communication remains poor. With a 64% shareholder having reached terms - as yet not properly conveyed to the ACA BoD - there will be no hostile takeover. I do certainly agree that despite everything that has been thrown at them the company has performed admirably and once agreement is formally agreed with GoT they could continue very profitably without a takeover but for all of the reasons we have identified many times before that is an unlikely option. The ball is in ABX court as they have agreed a settlement with GoT, who are ready to proceed. They, like us, are waiting for ABX to complete the required process with ACA, until ABX communicate officially with ACA detailing the proposed agreement nothing can happen. Does anyone else consider that one reason ABX might be delaying is that the continued shambles of our Brexit makes the £ vulnerable to further drops - every 1.3 cents fall against the $ makes us in effect 1% cheaper - could you blame them?

Well STB - the big question for me is understanding the value and that depends on when ABX are ready. They can only be waiting to get their ducks in a row before passing info to ACA, in my opinion they will include an offer either from them or the Chinese. I want to say soon as that is what I believe but getting the y/e accounts out is another step towards news but ABX will decide the timeframe. Hold hard it will be worth it.