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By Chris Bailey | Friday 19 July 2019
Disclosure: I own shares in one or more of the stocks mentioned. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
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…
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