||EPS - Basic
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Acacia Mining Share Discussion Threads
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|Upcoming calendar events. I will try to update the header more often.
19 Jan 2017 Fourth Quarter 2016 Production Results
14 Feb 2017 2016 Preliminary Results|
|I think a merger will be a good thing for both companies. There is a slim chance of a takeover offer coming in but not holding my breath.
Every so often they are in talks to do a deal of some sorts, eventually a deal is bound to happen.|
|depends what the terms are and expected cost savings/upside.....if good then IMO no reason ACA should not be market materially higher...as ever DYOR...|
|karateboy it is my understanding that there is NO OPTION, the owner of more than 30% MUST make an offer for the rest of the company at no less than the highest price they have paid in the previous six months. The City Code is not Law but all companies adhere to it's rules.
Initial opening gap closing now. I suppose it is a bit of a coin toss as to whether to buy now. Any announced deal may be seen by the market as NOT good for Acacia. The normal minimum takeover premium is (I believe) 15% over the 60 day average closing price.|
|If a company holds more than 30%, they require to tell the market on
Their intention to bid or not for the remaining shares.|
|ACA up nicely anyway you look at it, same as GP|
|Thanks Enami, it seems like Barrick are keen to sell some or all of their stake. I guess it's a case of sell less than 30% or sell Acacia in its entirety.|
|On the percentage stake front, if any shareholder buys 30% of the shares in a company then the City Code on Takeovers and Mergers requires them to make an offer for the whole of the remaining shares.
Barrick sell 29% to Endeavour????|
|Endeavour is ideally positioned as the major pure West-African multi-operation gold mining company, operating 5 mines in Côte d’Ivoire (Agbaou, Ity), Burkina Faso (Karma), Mali (Tabakoto), and Ghana (Nzema). In 2016, it expects to produce between 575koz and 610koz at an AISC of US$870 to US$920/oz.
Acacia is one of the largest gold producers in Africa. They have three producing mines, all located in north-west Tanzania, and a portfolio of exploration projects across Africa some of these are in the same area as Endeavour.
When the structure of the merger between the two companies, be it takeover or "Merger of equals" the market will tell us on Monday morning what it thinks of any possible deal.
From the RNS
"Acacia continually assesses opportunities to grow and develop its business in line with its strategy, including the assessment of potential strategic combinations.
Acacia confirms that it is in preliminary discussions regarding a possible combination with Endeavour. This may or may not result in agreement of a transaction."
From the tone of the announcement i get the impression of a merger, maybe with Endeavour taking over the West Africa explorations.
Endeavour are listed in Canada on TSX (Symbol EDV) . They have issued their own statement, with the same information.
Not been a holder here for a very long time and only started the thread to continue from the Barrick Gold incarnation.|
|Can anyone shed any light on the latest RNS please? What is likely to happen if the merger went ahead? Would it be a positive for the SP?
What would happen if Barrick sold their 64% stake? Would the buyer have to make a bid for the whole of Acacia?|
|A take over bid would be nice. It seems there is always bid speculation on this company every so often, one day it might just happen. £6.50 ought to seal the deal!|
|BloombergBy Dinesh Nair, Scott Deveau and Jesse Riseborough(Bloomberg) -- Endeavour Mining Corp., a gold miner backedby Egyptian billionaire Naguib Sawiris, is exploring a mergerwith Acacia Mining Plc in a deal that would create one of thelargest precious-metal mining companies in Africa, peoplefamiliar with the matter said.Discussions held so far have been preliminary and apotential merger would allow Barrick Gold Corp. to reduce its 64percent stake in London-listed Acacia, the people said, askingnot to be identified as the information is private. Barrick,which is looking at various options for its stake, would alsoconsider selling its holding to another bidder, the people said.No final decisions have been made and the exploratory talks maynot result in a deal, they said.|
|Quite surprised it dropped to about 403 first thing, should have picked some more up around that price! Looks to be a bit of support around 415 now.|
|It dipped below 400 yesterday afternoon when gold fell back to about 1175, it's now at 1205. Would expect 400 to hold easily, especially if gold continues to rise.|
|Spot gold is up quite a bit since ACA closed yesterday. I would have expected this to be a bit higher by now! Maybe it'll catch up later.|
|Question now I'm asking myself - where the gold price likely to go from here?
Picked up a few yesterday - @403 - looking to add more if 400 holds.|
|gold up...ACA up!|
|Gold down - so always going to be under pressure today.|
|thought it had broken £4 for good, but maybe we need next newsflow to confidently move it forward...|
|many thanks.....continuing to move Northwards this afternoon...|
|great Uhound, bought some more this morning, GP on the up and think ACA just appears to be "overlooked"...last year there was a TU in Jan, so hopefully my hunch is correct...good luck.|