- British hedge fund Odey Asset Management says it will vote in favor of Barrick Gold's (GOLD +0.8%) increased offer to buy out Acacia Mining.
- The approval comes after Odey previously said it would reject any offer from Barrick for its stake in Acacia (OTCPK:ABGLF) that is considered "best and final."
- Meanwhile, the miner is close to settling a three-year long $80M tax dispute with Mali's government, CEO Mark Bristow says, adding the miner expects to conclude the mediation process soon.
- The government has said a bullion bank that sold gold produced by Randgold Resources from the Loulo-Gounkoto gold complex in Mali owed $80M in back taxes.
- Loulo-Gounkoto has delivered the greatest production improvement in Barrick's global portfolio and is on its way to achieve 2019 production guidance of 690K oz. of gold, Bristow says.