Shanta Gold Share Discussion Threads

[hard work] 10/5/2019 08:46

From a couple of days ago...

Barrick Could 'Force' Resolution to Acacia's Troubles, CEO Says
Bloomberg - 9 minutes ago

Gets better....

Barrick Gold Corp.’s Mark Bristow said the company may have to "force" an end to stalled talks with Tanzania over the fate of its subsidiary Acacia Mining Plc -- but not yet. Shares of the unit pared gains.


Acacia has been at odds with Tanzania’s government since July 2017, when the state handed the London-listed gold producer a $190 billion tax bill, saying it falsely declared bullion exports. Bristow was named Barrick chief executive officer in January, and the following month the Toronto-based miner said it’s reached a settlement proposal with the government. Yet so far, no final deal with the government has been signed.

“We would definitely at a point intervene and force the process, but right now it’s not a constructive way to try to solve this problem,” Bristow said in an interview in Toronto Wednesday.

Sally Marshak, a spokeswoman for Acacia, said the company has no immediate comment. Shares of the London-listed company, which earlier rose as much as 4.9 percent, pared gains to 1.5 percent to 144.2 pence at 3:30 p.m. in London.

Bristow took the helm at Barrick after the miner merged with his company Randgold Resources Ltd. at the start of this year, rekindling hope of a resolution. The South African has a long history of successfully operating in Africa, but so far has left negotiations in the hands of his long-time lieutenant Willem Jacobs.

Barrick, which owns almost two-thirds of Acacia, has previously said that the plan includes the gold producer paying $300 million to resolve outstanding tax claims. It also involves a 50-50 sharing of the “economic benefits” of Acacia’s operations with the state.

Acacia has been frozen out of the talks, but its board will have to approve any deal. Once that’s done there’s uncertainty over the future of the miner that only operates in Tanzania. Barrick would favor taking back full control of the unit, people familiar with situation said last year.

“It’s a tragedy; what we’re dealing with is a complete breakdown of relationships,”; Bristow said Wednesday, noting that the Tanzanian government refuses to deal with Acacia. Bristow declined to provide more details on what an intervention would look like.

“There’s a way where we could get involved in wrapping up the business going forward and then deal with the assets ourselves,” Bristow said. “Or there’s a way where we could cooperate with the Acacia board and we could look at strategic options and realize the assets in a different way. Those are the options that we have.”

[qs99] 10/5/2019 07:47

Agreed Redhill, just voicing my frustrations again haha, Soz!

Given new sanctions on china today, surprised Gold hasn't moved higher

Good weekends all.

[redhill] 09/5/2019 16:31

QS99

In my view the market makers have been short of stock since they were caught out by that large rise two months ago.
All their actions suggest they are trying to balance their books by marking down on little selling.Been at it for weeks now. We could do with some news on VAT soon.
Barricks discussions with GOT seem to have been going on for ages now.

[qs99] 09/5/2019 16:21

6% off wtf?!

[juju44] 08/5/2019 20:28

Shanta just cannot take any decent news

[338] 08/5/2019 10:59

PoG is heading to $1300+ again

[redhill] 07/5/2019 22:18

Just vanishes ? When the half year accounts come out in August we can see where its been spent.

[redhill] 07/5/2019 19:51

Well it doesn't take a genius to work out that the grades are better at BC.
Now if you have a large amount of debt to repay in a short space of time you are hardly going to spend your time mining the lower of the two grades.
The grades at Luika are still pretty good and i very much doubt it will be closed for a while.

Still better in fact than the grades being mined by Acacia !

[redhill] 07/5/2019 18:39

Anyone want to compare Shanta's grades with those of say Acacia ?

The Company has undoubtedly the best grades in Tanzania.

[redhill] 07/5/2019 18:17

Right lets get this into context.

They were drilling down at BC central. They found good grades and are now going to drill more holes to see the extent of the ore body. So far it indicates they will be able to push down another 3 levels with further ore indicated below.The grades encountered are similar to what they are mining at present and if this confirmed by further drilling then an extension to the life of the mine is probable.

I'm not sure why are idiot would suggest the alternative to drilling is to close the mine as there are other sections of the mine which are also open at depth and have yet to be drilled. I'm also not aware of any closure at Luika which he states as fact !

He really wants Shanta to fail.

[jc2706] 07/5/2019 17:47

When gold is $2000/oz, Shanta is producing 100k+ oz per annum and printing money and the final dividend of 10p per share is announced, AG will still be commenting that they need a placing or else they will be bust by the end of the week.

[buywell3] 07/5/2019 17:11

It's a sell then ?

[redhill] 07/5/2019 14:47

No 116 wasn't as good as the others but the deeper they drilled the better it got.
The other ones were excellent and in line with expectations.

Enough to do further drilling to prove up the resources and extend mine life.

[tsmith2] 07/5/2019 12:19

in meantime market rewarding nothing companies

[tsmith2] 07/5/2019 12:19

abject volume on excellence news

[juju44] 07/5/2019 11:32

good news has never moved this share price on the announcement day

[redhill] 07/5/2019 10:54

Certainly no duds there. Even the lowest grade is higher than the Singida mine!

The average over the whole mine is excellent so if what has been drilled is slightly under the average its still bloody good.