After Bid Deadline Extension, Acacia Offer Is Fair: Barrick CEO
Barrick Gold Corp believes that its projected offer to take complete charge of an African unit is “more than reasonable.” Mark Bristow, Chief Executive, Barrick Gold Corp, told Reuters this week that the firm is supposed to connect with Acacia Mining Plc’s board and minority investors to win them over. Barrick Gold Corp is said to be the world’s No. 2 gold miner. This week, Acacia agreed to extend to July 9, 2019, the closing date for Barrick to make a firm proposal to purchase about 36.1% of the firm it does not already hold.
Barrick’s May 21, 2019, share-for-share offer valued Acacia at about $787 Million. This amount is a close 9% discount to its pre-proposal closing price that might draw protests from Acacia’s minority investors. Following a 17% growth in Barrick shares boosted by a gold price rally, the value had grown to about $887.8 Million as of this week.
On a similar note, startup SafeAI came into the news as it is rising from stealth this week with a $5 Million funding pronouncement. This firm is powered by a founding talent team that holds experience across Ford, Apple, and Caterpillar. The firm’s focus is on autonomous vehicle technology that is specifically designed and created for heavy equipment employed in the mining and construction sectors.
Out the gate, at present, SafeAI is collaborating with Doosan Bobcat, which is the South Korean equipment firm. Doosan Bobcat is known for making Bobcat excavators and loaders. SafeAI is already representing as well as carrying out trials of its software on a Bobcat skid loader. Reportedly, this testing is done at the SafeAI testing ground situated in San Jose. The startup trusts that employing advances in artificial intelligence & autonomy to mining & construction can do a lot to make work locations safer, boost productivity, and grow efficiencies.