Member Info for FrankyS1971

Oh I am. Thanks very much for asking. I know it 'll turn but annoyed that I may have to sell beforehand for various reasons. Certainly dragged on longer than anticipated!!! I looked on hargreaves landsdown site and it said it.was.a.sell..last thing I would like to see is institutional investors dumping them!! My 2.85 looks a mile away but things can change rapidly!!-))!

£1/2 million (or as good as), sold after the bell!! Any thoughts? I assume the SP will tank back down tomorrow therefore....:-/

the clue is in the words "non exec" He is not Chairman, he is "non-exec Chairman". He will I imagine resign that post shortly, but is clearly doing an advisory piece and keeping himself on hand for the next few weeks. Non Execs get paid typically a day or two a week in an advisory capacity, so essentially he is on gardening leave but remains 'on tap' during the handover period to his successor and to support the ongoing negotiations if needed. I don't think it will be 1,2 or 3 BigBangs. ACA can't be sold when you don't know its value and that can only come from knowing the final deal. There are loads of people involved in this on Barricks side, so an outcome isn't reliant on his input in anyway I can't beleive?!

Nah, they would nt be so short term with the outlook. Besides which it's costing more leaving the good stuff in the ground than waiting for a few cents on the GP.

Ha... even less than I expected "we'll certainly keep the market posted!"

Listening to how good Barrick's Fourmile Drilling has gone, I'd be happy for them to swap out my ACA stock for £3.00 a pop:-:::::-))!

True true. Am being too bleak in the hot weather;-)

No probs BB. The disclaimer also says they 're not obliged to update on anything unless the law tells them they must. They will give nothing away until they have to so "nearly there" messages don t cut it where investment goes. I think that s all we 'll get so I expect more shorting!

If you read the forward looking statement at the end of the report there is a big disclaimer essentially saying "whether" a deal is done "if" the ban gets lifted and "whether" Acacia agrees to final terms. I still think it 'll be months away personally. Tomorrow's update will be talks remain constructive and that will be our lot.

Maybe it's the 16% free carry being organised.

It pains me to say and I hope I'm wrong, but I don't see any deal happening anytime soon. GoT is completely unpredictable and makes stuff up as they go along. They are also stubborn and militant so talking them out of an uneconomical smelter, or holding cash in a vulnerable state Bank won't be listened to and is untenable i would think for Barrick. I believe there is deadlock and I can give you your update now. "Conversations remain constructive and are being allowed time, to run their natural course" Acacia has sold its interests in its 4th mine, probably to try and break the deadlock but don't bank on it working anytime soon. They are an inept Government, making up impractical laws on the fly and doing it all back to front. Whats worse they won't listen to good advice or indeed any !!!If the gold is in the ground its worth jack S*&!¬ if you can't get it out the ground and export it!!!!!!

ACA is limping along and done well to survive IMO.

Sadly, I have it on good authority the following minor points from someone who has been to North Mara several times and also deals with the GOT as a strategy advisor at an NGO.

1. North Mara is a total crap shoot and has been a very badly run mine owing to artisan minors working around the mine. Lots of villagers have been shot by security forces over the years and lots of bad blood.
2. It was a poor original contract and they are almost impossible to unpick after the event
3. The tanz Got makes stuff up as they go along. They are incredibly slow and unpredictable and getting stuff agreed takes forever
4. The Chinese have so much influence that its hard to imagine them not interfering. They do everything with a very long term view. So if they are influencing things with a long term strategy in mind, guess what. Things will drag.

I'm not expecting news anytime soon apart from the only one good thing in our favour, which is that the Govt needs to service their debt and ACA is a big contributor. I think something will happen this year but don't bank on it being next week or the week after!!

This will drag on for a while yet I suspect.

I need £3.00 to happen which will take until 2020 or beyond I think..This will have been carved way before then though.

That's an interesting way of looking at it Supercharger and not an angle I really considered. I guess now there is no timeline it at least wrong foots the shorters, as the risk of getting their timing wrong is now much higher. I always thought that saying "mid-year" offered a risk free environment for shorters, safe in the knowledge that no announcement would arrive before then. Perhaps we've seen the bottom for now, but I can't see it going up much as buyers will steer clear until D-Day when things will go ballistic! My cautionary note is that there must be a major sticking point or two, but like all good negotiations, it will go down to the wire and then get resolved.

Is it not as much about what Isn't said as much as what is?? Surely investing successfully can t rely on us being spoonfed every detail to make some level of cognitive leap Opium? Or we d all miss the boat! Have the Chinese expressed interest. Yes. Has Odey stated he will block the deal becuase of poor value to ACA shareholders. Yes. Do you object to people speculating on what might be going on to form a view? Lack of absolutes didn t stop you boring everyone with your nationalisation barbs and predictions. Does it.mean you only approve of speculative views if they are totally negative then?

Yes the Chinese interest is an imponderable..my instinct is that it must be too hard and messy to try and sell a stake to the Chinese with all the other moving parts in flight..but only guessing..what I really.don t want is aca being sold.cheaply to the.chinese and the stock being delisted at.1.50 or something stupid. I can t see that this sort of fire sale would be acceptable to Barrick and will trust this is an unlikely outcome...It s clearly a complicated situation that needs to be unravalled but the all round will is definitely there.

I suspected this would happen as Crispin Odey is blocking the deal or wherever it was heading. If Barrick have to take on more financial burden then I guess they have to go back to the table so all involved will settle. There s no point tabling something that will get rejected. This feels like another 2-3 months. The Tanzgt have got debts to pay and need this to work!

Oh yes..the shorters just want to get cheap stock but they won't get it from me. We'll be fine Supercharger!:-))! Time is all that is needed here. In my case probably another 1-2 years!!!:-)

Hi Big Bangs, I think the argument is that the fine is based on back taxes of 25 years and that ACA has only been in play since 2010 listing so why should we foot the whole bill? Odey;Wace and Blackrock..i don't know how it all hangs together but I have no doubt that the shorting is designed to line their pockets. All we can hope is that our interest as small shareholders are aligned with theirs and that the refusal to sell at any price will reap rewards. my 2.80 seems like a lifetime away, but this share has a history of going up and down massively like a *****s draws:-))! I'm not worried as there will be a deal in everyone's interests and we can then all move on. I do think it could drag on for longer though but we'll have to patienty wait.

I see the news yesterday as a positive. For anyone not aware. Crispin Odey and Blackrock are looking to block the deal stating that Barrick has a conflict of interest in Tanzania, as they are negotiating other deals in conjunction with ACA. I suspect the back-tax and fine is proposed to come out of ACA pockets rather than Barrick and they argue that much of this should be settled direct by Barrick as they owned ACA before floating it for the most part of the last 25 years when it was African Barrick Gold. They want Barrick to be barred from voting and also believe that Barrick owe small shareholders millions!!! Odey has a 7% stake and Blackrock 10% so they are protecting small shareholders rights. I don't think it will affect the TG side of the deal as they don't care how the money from the fine is paid! It may however slow down progress as Odey seeks to negotiate with Barrick on this and as it stands they will block the deal!!!

I see there is one opinion or should I say Opinium (see what I did there) that Barrick will sell Acacia at a cut price deal to wash their hands of ACA or agree on a deal that sells shareholders down the swanny. I m not so sure personally. They are struggling for growth and cost controls with no significant explorations likely to come on tap anytime soon. They simply can t afford.to nonchalantly allow ACA to go for peanuts when North Mara still has 2.3 m ounces to dig out. They will fight to realise it's full value so why you think it's a good corporate idea to sell Aca short i have no idea?? What s good for ACA is good for them so makes no sense.