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P- My wife opened a bottle of Champers tonight as it was 14 years since we took on our lovely German Shepherd retired off from Essex Police and the Met, who I had to have put down about four years ago as he was in pain through cancer and so I know how you feel about dogs. He was the son we never had.

I am sure and I hope all will work out in the end for us all here, let's hope for once the good people win the day and the Giant American Company does the right thing by offering the right price which is not too much to ask considering we have been carrying the can for a few years after they disbanded the Company from African Barrick Gold which is I hear associated with a lot of what Acacia is now accused of? Perhaps there is a historical defence before us for the Aca board to negotiate the loss we have actually suffered for the past three years that we have not caused?

P- Maybe he can consider a price to be more acceptable otherwise we might say he was barking up the wrong tree!

Just wondering did the Acacia Board serve their options in the end? If so I wonder at what price?

Hi Dimi and BB, Yes actually we are at a far better place than we could be and as Gold moves up with all the uncertainly in the World and the Uk, ABX moves up and we follow. What with our price being of interest and underpinned at a lower level than we had hoped but underpinned nonetheless we could be in a worst place than here.

I also do not feel we will be simply taken over with a full agreement as MB and Randgold were (as our Management are in conflict with MB) and must act in the best interests of the Company and the LSE rules and refuse to accept the low ball offer which as Elli said is a first very low offer below true value which might be subject to investigation from the UK Tax authorities for certain Capital gains. .

Whilst we let the Lawyers and accountants fight it out, the official offer has not yet been made but moves are afoot for Barrick to try and get us cheap.
However the Market conditions are returning in favour of rising Gold Prices and in favour of Gold miners, as such ABX is already up today and we are tracking the price, so I am now wondering if we are in the markets in effect linked? either way we may see some rises over the next few days which will make the Barrick original indicative offer redundant.

Maybe we should follow the institutions as the price is starting to drift up.

I suppose the Barrick price will move north too soon, what with Gold and the USD rising against sterling.

Looks like some of the Merchant banks are carrying out equity swaps with shorts for long as I see it.

I suppose they see as BB reported that the share price will now be underpinned by the offer price suggestion. Also they may see more opportunity for upside especially if the Acacia Management have to disclose details of their discussions they have previously referred to with the Chinese Companies? The contracts they have in place not only with the GOT but also for the exploration outside of Tanzania must be worth something too.

I remember that JT the Barrick chairman had authority to act on Acacia behalf to negotiate and report back to the Acacia Management committee on the dispute, but I am unsure of the relationship MB has, if any?

I am sure a lot of going on between the Lawyers at the moment but certainly the Barrick offer appears to have been timed to perfection and is made prior to any conclusion of the G.O.T. deal agreed with MB being presented to Acacia and lets face it if it was accepted would have made this share price fly.

Maybe the AGM should be put back to be after the formal offer is actually received. Barrick have until 18th June to present this and the AGM is scheduled for 13th.

Wouldn't the BOD of Acacia only need to buy the 18% of Barrick over the 50% level? If so we could reverse the suggestion. However I am still not sure about the legal position with all of this to be honest.

There must be several options available (no pun intended) for the Acacia advisers to suggest? The advisers chosen did look on first impression to be well known and of good reputation and so up for the job?

See ABX shares now starting to rise. Acacia now coming back.

Alternatives could be for Acacia to formalise the arbitration process for the protection of the minority shareholders interests. Issue a dividend to shareholders based on earnings which could be a discussion point at the forthcoming AGM. (Barrick have assumed no dividend due with their offer despite the fact the Company is still earning money and has interests outside of Tanzania).

Surely the long suffering minority shareholders who have been paying for the legal costs through the dispute and fines are due some premium.

In fact the share price has been underpinned. As Acacia has been talking directly with the Chinese and the USA are not their flavour of the month, perhaps we will see some more twists and turns here to help us. I agree with all what has been said here, this offer I feel is ridiculous and bullying tactics into submission. I still cannot see how the key negotiating party (major shareholder or otherwise) should be given advantage when surely there is a conflict of interest here. If there is a conflict I cannot see why the party should be given the right to vote on the proposal. I hope the relevant bodies will protect us, and or oversee that the offer is fair and reasonable all things considered. Surely that is not too much to ask. I also would not be surprised if Barrick continue to buy the Acacia shares they can so I will be keeping mine as they will become in demand. Notice of offer forms still coming out.

As Barrick are already the majority shareholder and have advertised the fact they have a solution with the G.O.T but Acacia who they were representing do not. why are they either not voting onto the board their own directors or making a true offer reflecting the contracts held in place by Acacia to run the Company without the shareholders selling their shares?. The Mining rights alone are worth more than the offer. Surely we must have some legal protection here that the offer must be fair and reasonable and not be from someone in a beneficial position of negotiation and or dealing? Are they even able to vote at the AGM?

Yes we now know the reasons behind the location for the AGM and can see why we have the timing of the derisory offer (a day after a sudden 5-6% increase). Clearly we need some LSE shareholder protection as Barrick being the negotiating party on behalf of Acacia are now making an offer which is not at the same level as before the negotiations took place. In fact the offer is it appears nothing like a true reflective offer if all was equal. I can now see a vote may be cast at the AGM to start arbitration proceedings against the GOT after all this is now in shareholders interests, as without a dispute the share price will be a lot more. Or if Barrick have a deal agreed (verbally or otherwise) they should make a true offer as it the deal was concluded in the likelihood that they themselves will have it agreed. At least we also know Acacia is worth Barrick making an offer and so hopefully the market will respond and the share will rise. Have Barrick already started buying our shares? Surely the price will now rise.

Hi Frank - you might be right but my feeling is when we have seen Barrick publicly blame Acacia for the hold up in the finalisation of the deal, and they likewise want some clarification from MB as to his comments a few weeks before an AGM, internal communications will have "engaged" to save any further Company embarrassment at the meeting. This is also in my mind more intriguing when we consider out of all of the conference rooms available Acacia book their own Layers offices? My experience of Lawyers is they are very protective of their own premises unless they themselves are going to make use of the meeting for their own business? I wonder therefore if more is going to be presented and discussed than usual and the deal would be one thing on my mind that could be? My own gut feeling is that we are now moving through a sensitive period of negotiation and the time is getting right for closure, however my idea of closure is different to most on here in that I see value in Acacia perhaps expanding rather than losing its name. I feel it was a shame Randgold is no longer in the FTSE I wish they had managed to remain. I am sure more will come out in the wash before the AGM but if nothing else the Mining conference Dimi referred to has certainly raised the Acacia profile and when the participants see today's rise I hope this will give them some food for thought.

I see this as a reaction to the Mining conference in London as reported by Dimi where Acacia was given by Analysts a big thumbs up!

Short tracker still has the same small short on at .060% and so they still need to come back in which will help the price further when they do. It is quite feasible however that a deal will be presented of some sort at the forthcoming AGM and so what with the Analysts vote of confidence and the possibility of a deal the price will hopefully be back up to £2 very soon. Lets see if we can keep the momentum going.

Dimi -thanks for the update with the excellent news!!

The elections in Tanzania would seem to be of interest if the Political climate is going to lead to a change. I found from when dealing with Political Risks Insurance claims most problems become sorted very quickly when there is a change of government or even personnel. The new Governance in whatever Country I have dealt always seem to become more responsive to an injection of cash made from working together in a friendly partnership that when at loggerheads with each other and this will encourage investment rather than discouraging it by being hard line.
It is interesting that the fine for Pollution against Acacia is almost exactly the same as what has been made for the sale rights handed over from the South Houndé project in Burkina Faso, when people far away can see this, the GOT are not being in my opinion tactically aware, as if I can see it so can every other Country/Company in the World. A change of business tactics to encourage and not deter is certainly overdue.

MB trying to push Acacia forward?

https://www.miningmx.com/trending/36963-acacia-to-receive-2m-after-finalising-end-of-earn-in-with-samara-on-south-hounde/

This now is starting to look like a new Global Company now to me, with all the hard work of expansion over the past few years gaining momentum with Underlying sales growth right across the board.

They are now the largest UK Exporter of Beers and I can only see the home sales increasing as less go abroad.

I am pleased to be in this Company that is now growing at an ever increasing faster rate.

I am in regular contact with Acacia and I suggest those writing negative comments on here before they do seek confirmation to their assumptions from the firm first or it will be looked upon that all they are doing is to try and force the price down. It is interesting on a day like today when we are quickly recovering we get negative comments. My contacts at Acacia have proven to be very reliable over the past three years and tell me, conditions are improving,, production is up on the earlier predictions, they are working better with the G.O.T, they are talking with the Chinese, and 14 seperate Analysts have all said the share should be due an upgrade - Fact!

LSE rules apply and we have certain laws in place for a reason. I hope all will be straight and honest but perhaps this is another reason for the AGM being held at the Lawyers offices to keep the conduct straight and true.
I have read all of Acacia's recent statements, particularly the yearend one, and it appears that Acacia themselves have been talking to the Chinese about possible future opportunities, and let's face it the Americans aren't exactly flavour of the month with them at the moment, which might mean Acacia will lead the talks with the Chinese and this has become one hot political potatoe-who knows? TT thanks but this news was released last week and Acacia have since issued a statement they want Mr Bristow to explain what he means, as their impression is not the same as to which he so refers. I am sure the Acacia Senior Management are more likely politically to go through JT than MB in any case for both diplomatic and historical reasons. As you say BB Gold tonight back up over USD1300 an oz.