Acacia Mining Share Discussion Threads

[qs99] 19/1/2017 11:11

....hehe, yes indeed likewise sub £4.10 hoping that was miraculous timing....! good luck temmujin and good to see you on this board

[temmujin] 19/1/2017 11:00

just entered long and hard...mm games here..dont fall for it

[qs99] 19/1/2017 10:59

Looked pretty good for me, maybe some profit taking, but have bought the dip as looks odd IMO...gla

[enami] 19/1/2017 08:39

Disappointing market reaction to the production report today. I thought it looked OK on first read through.

Maybe we will get a nice wedding proposal on Valentines day when Preliminary Results due.

EDIT From Alliance News (Headline)

TOP NEWS: Acacia Mining Grows Output For Fourth Consecutive Year

Acacia Mining PLC on Thursday said production and sales both increased substantially in 2016, also benefiting from lower costs and higher prices...

[enami] 16/1/2017 15:17

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

[kryptonsnake] 16/1/2017 11:47

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.

[qs99] 16/1/2017 11:41

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...

[enami] 16/1/2017 11:34

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.

[karateboy] 16/1/2017 11:12

If a company holds more than 30%, they require to tell the market on
Their intention to bid or not for the remaining shares.

[qs99] 16/1/2017 08:18

ACA up nicely anyway you look at it, same as GP

[kryptonsnake] 14/1/2017 12:49

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.

[enami] 14/1/2017 12:39

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????

[enami] 14/1/2017 12:34

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.

[kryptonsnake] 14/1/2017 10:16

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?

[kryptonsnake] 13/1/2017 19:09

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!

[kooba] 13/1/2017 17:17

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.

[kryptonsnake] 13/1/2017 14:08

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.

[qs99] 13/1/2017 13:24

good reversal

[qs99] 12/1/2017 17:01

nice close...

[qs99] 12/1/2017 17:01

nice close...

[qs99] 12/1/2017 14:17

motoring now

[kryptonsnake] 12/1/2017 09:03

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.

[kryptonsnake] 12/1/2017 08:59

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.

[uhound] 12/1/2017 08:58

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.

[qs99] 12/1/2017 08:42

gold up...ACA up!