ACACIA MINING PLC Market Update

 
TIDMACA 
 
28 July 2017 
 
                 THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION 
 
                               Acacia Mining plc 
 
                                    LSE:ACA 
 
                          ("Acacia" or the "Company") 
 
                                 Market Update 
 
Further to previous communications regarding its ongoing dispute with the 
Government of Tanzania, Acacia would like to inform the market that a senior 
international employee of its wholly owned subsidiary Pangea Minerals Limited 
was prevented from leaving Tanzania this morning. His passport was seized and 
he was detained at the Dar-es-Salaam airport for a period of time. Following 
legal intervention, he was released and his passport has been returned. This 
incident follows on from increased levels of pressure from Government agencies 
on Acacia employees in the past 48 hours. Acacia is working with our legal 
advisers and relevant authorities to support our people. 
 
Acacia re-iterates that it operates in full compliance with Tanzanian law, has 
declared everything of commercial value that we have produced and has paid all 
appropriate royalties and taxes. The Company will keep the market regularly 
informed as to developments as they occur in Tanzania when they are of a 
sufficient materiality in the context of what has already been disclosed. 
 
ENQUIRIES 
 
For further information, please visit our website: http://www.acaciamining.com/ 
or contact: 
 
Acacia Mining plc                       [phone] 
 
Giles Blackham, Investor Relations 
 
Camarco                                 [phone] 
 
Gordon Poole / Billy Clegg / Nick Hennis 
 
Disclaimer and forward-looking statements 
 
This announcement is for information purposes only and does not constitute an 
invitation or offer to underwrite, subscribe for or otherwise acquire or 
dispose of any securities of Acacia in any jurisdiction. 
 
This announcement includes "forward-looking statements" that express or imply 
expectations of future events or results as opposed to historical facts. These 
statements include, financial projections and estimates and their underlying 
assumptions, statements regarding plans, objectives and expectations with 
respect to future production, operations, costs, projects, and statements 
regarding future performance. Forward-looking statements are generally 
identified by the words "plans," "expects," "anticipates," "believes," 
"intends," "estimates" and other similar expressions. 
 
All forward-looking statements involve a number of risks, uncertainties and 
other factors, many of which are beyond the control of Acacia, which could 
cause actual results and developments to differ materially from those expressed 
in, or implied by, the forward-looking statements contained herein. Factors 
that could cause or contribute to differences between the actual results, 
performance and achievements of Acacia include, but are not limited to, changes 
or developments in political, economic or business conditions or national or 
local legislation or regulation in countries in which Acacia conducts - or may 
in the future conduct - business, industry trends, competition, fluctuations in 
the spot and forward price of gold or certain other commodity prices (such as 
copper and diesel), currency fluctuations (including the US dollar, South 
African rand, Kenyan shilling and Tanzanian shilling exchange rates), Acacia's 
ability to successfully integrate acquisitions, Acacia's ability to recover its 
reserves or develop new reserves, including its ability to convert its 
resources into reserves and its mineral potential into resources or reserves, 
and to process its mineral reserves successfully and in a timely manner, 
Acacia's ability to complete land acquisitions required to support its mining 
activities, operational or technical difficulties which may occur in the 
context of mining activities, delays and technical challenges associated with 
the completion of projects, risk of trespass, theft and vandalism, changes in 
Acacia's business strategy and ongoing implementation of operational reviews, 
as well as risks and hazards associated with the business of mineral 
exploration, development, mining and production and risks and factors affecting 
the gold mining industry in general. 
 
Although Acacia's management believes that the expectations reflected in such 
forward-looking statements are reasonable, Acacia cannot give assurances that 
such statements will prove to be correct. Accordingly, investors should not 
place reliance on forward-looking statements contained in this announcement. 
Any forward-looking statements in this announcement only reflect information 
available at the time of preparation. Save as required under the Market Abuse 
Regulation or otherwise as may be required under applicable law, Acacia 
explicitly disclaims any obligation or undertaking publicly to update or revise 
any forward-looking statements in this announcement, whether as a result of new 
information, future events or otherwise. Nothing in this announcement should be 
construed as a profit forecast or estimate and no statement made should be 
interpreted to mean that Acacia's profits or earnings per share for any future 
period will necessarily match or exceed its historical published profits or 
earnings per share. 
 
 
 
END 
 

(END) Dow Jones Newswires

July 28, 2017 08:07 ET (12:07 GMT)