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Dear Friends:

The successful issue of Barrick's African, primarily Tanzanian, gold properties was, as I see it, for the purpose of gaining a greater valuation for these properties than they are given while amongst the population of other Barrick properties.

The issue price of ABG was 5.75 pence, and the last trade I see was 5.90 pence.

It stands to reason that the expense of the derivative cover has already been charged to these properties now that Barrick has closed the majority if not all derivative hedges taken for new property development. That should be reflected by greater profitability and lower gross mining costs to these producing properties.
ABG should now get a better percentage apppreciation valuation than Barrick itself, in this now all Africa subsidiary.
This was issued in London because of the greater understanding of Africa in GB and on the continent.

This, IMO will bring increasing attention to TRE, some of which we are already seeing.

Click here to follow the quote of ABG in London

Click here: All prices search - London Stock Exchange

Respectfully,
Jim in Tanzania.