I know I look a bit stupid for writing on these pages in early June that you should not have a punt on Acacia Mining (ACA) after its majority owner Barrick Gold (GOLD in the US) made an initial low ball for the rest of the shares. The subsequent 30% share price rise between then and now would have made for a decent contribution to the summer holiday spending fund, even for a relatively modest four figure investment. Acacia announced earlier today that all is sweetness and light with Barrick as the latter bumped up its offer by around 10%, made various special dividend promises regarding some exploration promises and because of the latter's share price rise...the base share-for-share offer was worth more in any case…
I have rhapsodised enough times on this website about one of my favourite global corporate chief executives, Mark Bristow who has evolved from being in charge of the previously London listed Randgold Resources to (via a corporate transaction) heading up Barrick Gold which is primarily listed in Canada and the United States.
African gold producer Acacia Mining (ACA) says it lifted output a modest 2% to 731,912 oz. last year and indicates target production of 7650,000-to-780,000 oz. for 2016, with all-in costs anticipated to fall from $1,112 (£795) an ounce to somewhere between $950 and $980 an ounce, against a present market price of $1,108.45c.
If you want me to analyse a stock for you just drop me a line at email@example.com - Today I look at Acacia Mining, Chemring, Intertek.
In an mid-cap mood today, John Meyer of SP Angel this morning comments on Solgold, Acacia Mining and Vedanta Resources as well as a detailed macro view on the news that is shaping global mining and the AIM mining pond.
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