Acacia Mining Share Discussion Threads

[mrthomas] 02/6/2017 20:22

Held this stock before may be worth holding again question depends on this out come and if goes lower but this does sum up doing business in Africa. I was in TZ helping an NGO two years ago was a nice country but poor and every one was either wanting a job in Govt or an NGO

Idea of business and cash flow etc no idea

[ukgeorge] 02/6/2017 15:59

very poor end to the day :(

[novicetrade68] 02/6/2017 14:48

Fantastic, 400p soon would be even better ;-)

[ukgeorge] 02/6/2017 14:44

Lets hope so :)

do you happen to have a link to the conference call?

[bigboots] 02/6/2017 14:30

If any of you listened to the conference call, very interesting

It seems that the BOD thinks this is smoke and mirrors and will likely get resolved "very quickly"

Could see an announcement over the weekend

The Tanzanian government work Sunday....

[glenkaz] 02/6/2017 14:12

Well done all that got in £250 👍🏻 you could be incredibly rich! Ha ha!

[ukgeorge] 02/6/2017 12:28

Thanks, interesting read, the tone seems to be relatively calm, so hopefully a resolution isn't to far out.

A smelter is likely uneconomic, I don't think they have enough spare electric for one. Not to mention the cost.

[puntogt] 02/6/2017 12:19

What to make of this ?
Tanzania: 'Smelting Plant Inevitable - With or Without Investor'

[ukgeorge] 02/6/2017 11:54

yep, £3 would be very nice. Sounds like the company and government are trying to get ti all sorted. Then back to £4 hopefully :)

[novicetrade68] 02/6/2017 09:42

300p today would be nice, but next week will be fine too.

[robizm] 02/6/2017 07:17

RNS hopefully things will get back to normal asap

[redbaron10] 01/6/2017 19:59

Just have to be patient.All the last posters have made sensible,pertinent points.If the Tanzanian authorities wanted to fully nationalise the mines,why aren't Petra diamond and Ashanti gold share prices not in free-fall in sympathy with the ACA share price? And why would they bother waiting? If that is what the government's intent is then get on and do it,rather than make themselves look silly with a bogus committee and their laughable findings.Also the president dismissed the mining minister at the same time so his scapegoat and get out clause is already in place.The authorities i feel just want to apply some more pressure without killing the proverbial 'golden goose' which is an appropriate metaphor in Acacia's case! It will be lose lose for all concerned if an agreeable compromise isn't reached,with any future foreign investment into the country put in jeopardy.The US has previously stopped aid to Tanzania,this president is in danger of making his country far poorer,not richer,which isn't his stated aim.It is all very well wanting to root out corruption and fraud in a country's economy but it can't be achieved overnight,or with stunts like this that he's pulled.

[novicetrade68] 01/6/2017 15:02

Time to return to more sensible levels here then!

[frankl8828] 01/6/2017 14:51

Pleasure - The Govt spokesperson sounds pretty rational reading this. Personal instincts don't count for much I know, but TG want to raise more tax money, not shut themselves off from doing business and scare investors and the international community away.

I'm quite sure this is all posturing and pretense to get ACA to stump up more Tax, but I suspect the final settlement will take time to agree.

The more silence there is, the more I believe a meaningful dialogue is happening in the background. If TG want to nationalise the mines, then there's nothing to talk about and we'd be hearing of the outcome pretty sharpish!!

[novicetrade68] 01/6/2017 14:44

Talking about a 'second formed committee', could be a way for Tz to gracefully distance themselves from the first committee...

[ukgeorge] 01/6/2017 14:37

Thanks Frank

[harry vederci] 01/6/2017 10:54

looks like Tanzania is digging itself into a hole

U.S. Warns Tanzania on Deteriorating Human Rights, Rule of Law




Dar es Salaam — A top US diplomat has expressed concern about "discouraging signs" of backtracking on transparency, human rights and the rule of law in Tanzania, which if unchecked could undermine business and the country's place as a key player in regional security.

Ms Virginia Blaser, the Chargé d'Affaires at the US Embassy in Tanzania and the East African Community (EAC), spoke on Thursday in an exclusive interview with The Citizen, ostensibly her last before the end of her four-year tour of duty in the country.

She said while the government should be applauded for the positive path it had taken in fighting corruption, it should also sincerely take stock of its record on transparency and the rule of law, and pay attention to some worrying retrogressive signs, especially on the private sector.

"Tanzanians need a future, and that won't come from development partners; that is not going to come from government jobs; it needs to come from a broad-based, healthy, strong, confident private sector," she said.

"And instead, I see some discouraging signs on the private sector side; and I worry about what path that will take Tanzania." She added that she would like to see more US companies in the country, but that would depend on a "more open, and transparent, and supportive private sector environment".

Ms Blaser, currently the most senior diplomat at the US embassy in Tanzania, spoke barely two months after the US-based Symbion Power took the Tanzania Electric Supply Company (Tanesco) to the International Court of Arbitration in Paris, seeking $561 million settlement for breach of contract.

In March, the firm filed an application for arbitration at the court after efforts lasting over a year to amicably resolve the dispute about the validity of the 15-year Power Purchase Agreement (PPA) failed.

The disputed PPA was signed in December 2015, handing the US firm a long-term contract to supply Tanesco with 112 MW through the firm's Ubungo gas-powered generators until December 2030.

However, on January 26, 2016 Tanesco wrote to Symbion, saying the PPA was put on hold.

"I think it's really important when a US company signs an agreement, that both parties receive the goods and services and payments that have been agreed upon... that is an issue of rule of law; that's an issue of transparency," said Ms Blaser. "I think there can be some improvements there."

She also called for the creation of a private sector environment that will help Tanzanians create more companies and jobs for the country's robust youth population, so they can have a future after graduating.

"The United States has invested a lot to help see that future... we believe that the health, the safety, the security of Tanzanians, the growth, positive growth of Tanzania is in our interest as friends, trade partners and a longtime ally."

She referred to the current statistics the government has released showing that exports of manufactured goods went down in the last quarter, saying there is a need to pay attention to those signs.

"It's just a quarter, but we need to pay attention to these signs and look to see how we can create a private sector environment, how do we encourage entrepreneurism so that Tanzanians can create companies, and create jobs that as youth get out of schools they have a future."

According to the latest Bank of Tanzania (BoT)'s Monthly Economic Review (MER), exports of manufactured goods dropped significantly by 37.5 per cent to $879.7 million during the year ending March 2017 from $1.408 billion during the year ending March 2016 as manufacturers grappled with a lack of funds to boost their operations.

The BoT report and Ms Blaser's comments on the negative signs also come in the wake of a widespread outcry from across the business spectrum over the tight liquidity situation and lack of support credit to the private sector.

A significant number of companies have closed, scaled down operations and laid off workers in recent months.

They cited poor business, mainly arising from the slow implementation of public investment. The International Monetary Fund has also recently warned that the cloud of uncertainty about the government's economic strategies could adversely affect growth.

However, Ms Blaser said the US would continue supporting Tanzania to stay on course because it "has invested a lot" to help create a future for the country's robust young population and university graduates.

But she quickly pointed out that the onus is on government to create a more enabling environment for business through transparency and respect for the rule of law.

"I see a scenario, which we, as friends, as partners, as trade partners, people who count on Tanzania for its engagement in the region, you know, its help with security in the region, and peace building in the region... there needs to be a Tanzania that has a democratic, forward-meaning, positive path. And there are a lot of signs that that's the way Tanzania will go as we are still on these crossroads."

[kewben71] 01/6/2017 10:53

hxxp://www.thecitizen.co.tz/News/PM-assures-mining-investors-of-protecting-their-rights/1840340-3951094-84qd0w/index.html

[tsmith2] 01/6/2017 09:24

Anyone spot news flag?

[tsmith2] 01/6/2017 07:51

Let's see if momentum builds today

[edjge2] 31/5/2017 22:12

Missed the bus but feel there will be downers before this disentangles with the govmnt bush. Obvious factor of 10 error there. Gold likely go down so everyone dumping and then to shoot up. ACA and POG look interesting.

[yashdi] 31/5/2017 19:42

Acacia up while mining index down 2% in real term this stock is update

[macca32] 31/5/2017 17:36

Acacia up again today 1.92% on Tanzania stock exchange