Acacia Mining Share Discussion Threads

[yaki] 25/5/2017 11:18

UKGeorge, agree
It only affects c1/3 of their business in Tanz.

Also they have c250mln in cash - nearly quarter of the current market cap!

[ukgeorge] 25/5/2017 11:17

I hope Acacia have offered to sell the concentrate to the government for half their estimated value. :) bunch of dodgy crooks in the government. The mining minster has been sacked and head of mineral auditing.

[bigdazzler] 25/5/2017 10:34

Wouldn't touch this using my worst enemies money at the moment.

In the words at the beginning of a famous Aerosmith song.

'Going down.'

[tsmith2] 25/5/2017 10:30

Large part of share capital v tightly held..makes it that much more volatile

[mj19] 25/5/2017 10:23

Sometimes CEOs don't know what's going on the ground

[glenkaz] 25/5/2017 10:14

Look at Pfc I'm holding off there til shorts have stripped it! Have we stabilised now?

[bookwormrobert] 25/5/2017 10:11

This, I think, is the key question - was the presumed fraud centred in the Tanzanian bureaucracy, or were Acacia a willing partner in it? If it is the former, then Acacia may well get off fairly lightly, and the share price will bounce in due course. However, if Acacia are guilty of conspiring to avoid taxes and duties and were paying bribes, then the company could simply lose its mines in Tanzania. I don't know the answer, and buying this share now is like juggling with knives. Really, it should be suspended pending more information.

[glenkaz] 25/5/2017 09:39

Bounce back to £4 you f/cker! 🙃

[falia] 25/5/2017 09:36

OK BOUNCING

[letmepass] 25/5/2017 09:29

Shorts will still be there.. Expect under 250 by weekend

[glenkaz] 25/5/2017 09:27

Will shorts close now 🤔 Surely a bounce from here! Wish I sold at 310 this morning and buy now! Still it's only money 😱🔫

[mikeroberts] 25/5/2017 09:19

Low 261 so far, knife catching can be fun:)

[mj19] 25/5/2017 09:16

It's shorters paradise

[the_equaliser] 25/5/2017 09:13

Why no suspension till all cleared up
Hmmmmm

[glenkaz] 25/5/2017 09:12

Bought in yesterday 360 sold 395 bought again 320 now 270!!! £4K up yesterday £20k down today! Foooook! Wish I had funds now!

[falia] 25/5/2017 09:09

2-2.20 TODAY

[yaki] 25/5/2017 09:08

It will depend on how bad they behaved in Tanz.
It must be quiite bad for JPM to sack his mate Minister in MEM and MEM's secretary

[1corrado] 25/5/2017 09:06

It will soon be back to 300p by friday week at the earliest.

[1corrado] 25/5/2017 09:02

bought at 274.

[glenkaz] 25/5/2017 08:39

F carnage! £20k down! 😁

[mj19] 25/5/2017 08:11

Now down they going to close the mine for now?

[glenkaz] 25/5/2017 07:32

Wow so 600 a year ago so nearly 50% down! I'm piling loads in here he who dares.... Gla!

[glenkaz] 25/5/2017 07:09

Have to say got back in 317 did not expect 305! Sp 500 not long ago big upside when sorted! Can't see why not so having more! Gla!

[redbaron10] 24/5/2017 22:26

Well good point.Is this the sub-plot for 'Kelly's Heroes II'? Petra Diamonds and AshantiGold are the other two big miner players in Tanzania and these two companies are under the microscope too.Their share prices dropped today.I bought in here at 319p already having a holding here before.The government report says Acacia declared the gold,silver and copper portions in the sand deposits,but other precious metal deposits were omitted.It also said the declared deposits were a factor of ten out in their composition.How can geologists/metallurgists be that out in an assay? It all sounds like the Tanzanian president is looking for a larger cut of the profits as far as the resources of his country is concerned.The Tanzanians reported 1.4mln oz of gold production for 2016,the highest for a decade,so why does the president want to jeopardise this income for his country? Hopefully Brad Gordon,the Aussie CEO of Acacia can get this resolved.At the moment it is lose lose for everyone concerned.