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Crispin Odey backs higher price for Acacia ahead of Barrick bid

Jul 11, 2019 - City A.M.

BARRICK Gold faced pressure yesterday amid reports that a major shareholder will reject any bid for Acacia Mining below 271p per share.

It comes as a blow to the Canadian miner, which is mulling a 196p per share bid for the company.

SRK Consulting has estimated the company is worth 271p per share. It used a $1,300 per ounce gold price.

"We cannot see any logical reason to be willing to sell a security without marking it to market, and in this case that means marking it to $1,40...