Member Info for BIGBangs

If you can hang on for another 10 or 15 years Super we will probably be able to live forever.

I read it that Trump was out of trouble and claims the witch hunt been a total waste of time - focus turned to Clinton’s collusion with Ukraine. Pundits think market may lift on Monday. Nobody seems to guess which way the market is going and overall the signs for a big downturn (recession) are all there so Gold is still likely to rise. Who knows what will happen with Brexit - I certainly could not call it, what I can do though is decide where to invest and I am sticking with gold and if it’s gold it has to be ACA.

Forget the reserves I listed just found another page. Must be tired. Might have another look on Monday.

Sorry 5217000 ounces previously just reported ABX %

ACA proven and probable reserves of gold slightly reduced to 3339000 ounces - put a value on that. That’s it for me let’s see what next week brings.

ABX have made tax provisions of $198 million against their share of the $300 million GoT settlement - if they have effectively reduced their tax bill by this amount it does not seem likely that they will be making an insurance claim.

Barrick are forecasting that ACA will produce between 500 and 550 ounces of gold next year - unable to cut and paste and presumably that forecast is based on current levels as they cannot yet include increased production from the mothballed Baly in the figures.

A fine set of accounts released by Barrick following merger with Rangold. $10 bn debt paid down over recent years. MB again comments on ACA:- ‘In Tanzania, Barrick and the government have agreed on a proposal to settle the protracted disputes concerning Acacia Mining’s operations in that country. (Barrick holds a 63.9% interest in the London-listed Acacia but it is independently operated.) The proposal, which is in line with the agreement reached by John Thornton and the Tanzanian president in 2017, must still be approved by Acacia shareholders and the government. Significant amounts of real value have been destroyed by this dispute and once the proposal is accepted, it will allow Acacia to rebuild its mining operations in partnership with its stakeholders.’ In line with agreement reached by JT - so we know the deal terms and that will add a significant amount of real value. Rebuild its mining operations in partnership with its stakeholders - whoever they might be. You can see MB also says deal has to be agreed by shareholders so come on MB give us the chance to do just that and give ACA board the details!

Hi Super I think the letter that they mentioned to you will be the notice for the AGM which is due on 25th April. I suppose on reflection that if there is news as we anticipate it would be pointless to hold an EGM requiring 2 weeks notice to then hold an AGM at most a couple of weeks later. What I felt was new information Super, was the surprising detail that Barrick had not yet presented any information about the proposed agreement with GoT to ACA one month on and counting. Elly pointed out a few valuable rumours which add weight to my belief that we will get news of the deal accompanied by an offer.

Thank you STB, I really suggest that you simply accept that this will happen every day until the news lands (or shorters go long) and you will feel better. Daily ups and down mean nothing if you are not trading which in my view at least is far too risky.

This is just the shorters trading with themselves - ignore the SP until we get news.

Yes I am a little confused by that one. Could it be arguments about who owns/will own or has an interest in the other non Tanzanian projects. As Super has pointed out before some of ACA’s exploration actives outside Tanzania could have a significant value of its own and perhaps the GoT want a piece?

The rumours you hear have a habit of being correct. Perhaps ACA themselves have not been advised and ABX continue independently to sort out the fine print - that does not surprise me and only adds fuel to the fire that announcement of a deal with the GoT will come hand in hand with an offer. I agree that ABX might first want to take up the shares they do not own by cash or 2:1 share offer and then potentially sell all or 50% to Chinese. £5.75 seems high from where we are now but the value of ACA is what it is, if there was no dispute and we were able to take Baly out of mothballs, uplift our asset value by $800 million and sell all the gold we produced then even without a buyout our value would fall somewhere between £5 and £7 - I will not even allude again to the Simply Wall St independent valuation of £14.76. I am content that ABX will not let us or the Institutional investors down and wait to be pleasantly surprised when the RNS lands with figures, even the most pessimistic amongst us accept, will be very well north of where we sit today.

We have been waiting in the wrong queue. I wrote to investor relations to ask when we can expect an update and why such a delay. Their reply was surprising. Nothing has changed since their RNS on the 20th February......ie they have not yet received details of the proposed agreement with GoT from Barrick. I find this quite amazing and would have thought as a listed company with responsibilities to the market that ABX would have been required to keep both company and shareholders informed of a major development for ACA, especially as they issued news to the market 1 month ago. In my view - and I have been wrong before - whilst I fully accept that ABX have been pretty busy with thoughts of Newmont and now sorting Nevada the delay of an update from ABX can only mean that they are concluding the details with a potential buyer and when we get news it will be about deal with GoT and a buyout. With this in mind I think that they will probably wait until the Y/E RNS due any day now (so that all figures are up to date) before they swoop. I still believe that a compete sale of ACA to the Chinese is the most likely £5.75.

I see why you would think that dimi but unless things have changed dramatically Barricks announcement of the terms on 20th February then from ABX website is pretty clear:- ‘The creation of a local operating company to manage Acacia’s operations in the country. Economic benefits from Acacia’s operations to be shared on a 50/50 basis. The Government’s share of economic benefits would be in the form of royalties, taxes and a 16 percent free carry interest in the Tanzanian operations. A payment of $300 million to the Government of Tanzania to resolve outstanding tax claims, to be paid over time on terms to be settled by the parties.’ That will be the deal.

Oh and Super, I know we are all sensible enough never to bother about the odd typo - goodness knows I have produced many - but when you refer to the God price do you mean I will have to sacrifice my first born - not going to happen!

Thanks Super - I think the point may be that a potential purchaser and the ACA board would want to be using published information on which to base their decision - it is obviously the most useful source of data. I certainly agree that once news is out brokers will be calling a buy - perhaps even P will agree that with ACA at least we are ahead of the curve.

FF you are such a dichotomy but I thank you for not taking a cheap punch when the opportunity arose. I certainly did not refer to you as an idiot in my previous post but you knew that. You obviously have experience with city folk and realise that most of them are recently out of University, have very limited scope and less authority who as you say follow the news and could not possibly have an in depth knowledge of many companies certainly not outside the FTSE 100. I say most because there are some truly exceptional people whose knowledge and insight are truly inspiring but they are few and far between and most now of course work for the hedge funds. Ultimately if people do not see the value in paying for advice it is worthlessness as for myself I am pulled towards the reassuringly expensive when I am so inclined.

Thanks Owls, presumably, like me, you have spent a lifetime working with these self same brokers and financial professionals and you have gained such faith in their ability to understand the core fundamentals and prospects of a company like ACA that you believe they can know more about this share than you do? May I ask if you do in fact have the faith in them that you seem to suggest why you are not buying into a fund that is managed by these guys but instead are following your own instincts and relying upon your own skills to invest provately in the market?

I agree that the £1.4 m trade is more significant but we do not know if this will prove to be good or bad for the SP - whatever that may mean depending upon your point of view. I am clear as to the value of this company but we are up against the machinations of BlackRock who, with the possible exception of Goldman Sachs, are the biggest player in the market and Marshall Wace a large and extremely successful Hedge Fund and I have no idea how they work and that is the reason the SP is theirs until the news is released. When news finally lands and I think that will be soon we will achieve the value that we deserve and expect, until then, who knows but if it does go much lower I will start buying in earnest.