June 18 (Reuters) - Barrick Gold Corp ABX.TO :
* BARRICK GOLD CORP ACACIA MINING PLC - UPDATE RE ACACIA MINING: TANZANIA AND MINE PLANS
* BARRICK GOLD CORP - PROPOSAL IMPLIES A VALUE FOR ACACIA OF US$887.8 MILLION AND TOTAL CONSIDERATION TO MINORITY SHAREHOLDERS OF ACACIA OF US$320.1 MILLION
* BARRICK GOLD - PROPOSED SOLUTION WHICH BARRICK BELIEVES REPRESENTS FAIR VALUE FOR ACACIA & IN BEST INTERESTS OF ACACIA AND ITS MINORITY SHAREHOLDERS
* BARRICK GOLD CORP - VALUE FOR ACACIA IMPLIED BY PROPOSAL HAS INCREASED FROM US$787 MILLION AT DATE OF ANNOUNCEMENT OF PROPOSAL TO US$887.8 MILLION
* BARRICK GOLD - GOVERNMENT OF TANZANIA HAS NOW MADE IT CLEAR THAT IT IS NOT PREPARED TO ENTER INTO SETTLEMENT AGREEMENTS DIRECTLY WITH ACACIA
* BARRICK GOLD CORP - BARRICK'S DISCUSSIONS WITH INDEPENDENT DIRECTORS IN RELATION TO PROPOSAL ARE CONTINUING
* BARRICK GOLD - DRAFT SETTLEMENT AGREEMENTS INCLUDE THAT GOING FORWARD GOT, TMCS TO SHARE ECONOMIC BENEFITS DERIVED FROM TANZANIAN MINES ON 50/50 BASIS
* BARRICK GOLD - AGREEMENTS PROVIDE FOR PAYMENT BY ACACIA OF $300 MILLION FOR FINAL SETTLEMENT OF ALL EXISTING DISPUTES BETWEEN GOT AND ACACIA GROUP
* BARRICK GOLD - US$300 MILLION PAYMENT IS OUTSIDE OF (AND THEREFORE NOT TAKEN INTO ACCOUNT FOR PURPOSES OF) 50/50 SHARING OF ECONOMIC BENEFITS OVER TIME
* BARRICK GOLD CORP - DRAFT SETTLEMENT DOES INVOLVE A SIGNIFICANT VALUE TRANSFER FROM ACACIA TO GOT
* BARRICK GOLD - CO'S TECHNICAL TEAM REVIEWED ACACIA'S CURRENT MINE PLANS, INCLUDING MINE PLAN SUPPORTING BULYANHULU OPTIMIZATION STUDY
* BARRICK GOLD CORP - BARRICK'S OWN ASSESSMENT IS THAT SITUATION MAY DETERIORATE FURTHER IF NO NEAR TERM SETTLEMENT CAN BE SECURED IN TANZANIA
* BARRICK GOLD - CO'S TECHNICAL TEAM CONCLUDED THAT SOME ASSUMPTIONS MADE BY ACACIA WERE NOT APPROPRIATELY RISKED AND THAT ADJUSTMENTS SHOULD BE MADE
* BARRICK GOLD - CO IDENTIFIED NEED FOR HIGHER UPFRONT CAPITAL SPEND AT NORTH MARA (INCREASING NEAR-TERM CAPITAL SPEND TO $385 MILLION) FOR ACACIA
* BARRICK - IN ABSENCE OF TAKE-PRIVATE DEAL, CO DOES NOT CONSIDER THERE IS ANY CREDIBLE ALTERNATIVE SOLUTION TO PRESERVE VALUE FOR ACACIA STAKEHOLDERS