I blundered yesterday by buying Acacia (LON:ACA) at 247p after it announced that the Government of Tanzania had come to a settlement with it. Some settlement. Basically GoT had decided to nick ACA’s future earnings by one means or another. So they had started off by a ridiculous claim for back taxes and in effect closed ACA down.
That noted, it looks to me as if ACA has a clear future run and that therefore 247p should be easily attained in due course despite the GoT’s determination to deter all future inward investment.
Elsewhere on the mining front, I have this morning bought a smidgin of Metals Exploration (LON:MTL) at 4p. This is because my informant elected to bell me from the shadows of the Great Wall in China. He does get about a lot and assures me that the fried eggs are bang up to speed.
I thank the many readers who submitted names for the yearling Lope de Vega filly that I, Jim Mellon and Farhad Moshiri have bought. The winning contestant was Toffee Galore and reflects Farhad’s ownership of Everton Football Club. Everton is giving Farhad grief at the moment. I hope Toffee Galore does not.
Finally, readers of a sporting nature may elect to back Bonneval in tomorrow’s Caulfield Cup. The start is at 6.30 a.m. London time. This is a retirement jobby.