Acacia Mining Share Discussion Threads

[tsmith2] 12/6/2017 15:47

The accusations are ridiculous. ACA should head straight for ICA

[stevea171] 12/6/2017 15:38

The Tanzanian government holds the key. Not commercial conferences.

If the TG wants a resolution it could have one tomorrow. But it doesn't. This storm is politically motivated for political grand standing domestically and economic gain for the government.

[redbaron10] 12/6/2017 15:32

There's a Standard Bank Africa conference for business and investors in 9 days time in London.Hopefully something constructive will come from this!!! Here's hoping.

[letmepass] 12/6/2017 15:30

Government will take over large part

[dstorey1] 12/6/2017 15:30

Agree 100%, had some thought.

[pugugly] 12/6/2017 15:24

zedder:> and all - IMO a good chance that this could be a run up to a confiscation and transfer to Chinese interest. Could it be a case that others have given "brown paper envelopes" whereas we are prohibited and fined if we indulge in the accepted business practices of most of Africa ??

[zedder] 12/6/2017 15:15

The company should put all 3 mines into Care and Maintenance. The Government will soon realise than some money coming into their coffers is better than no money!

[mustau] 12/6/2017 14:37

Zimba it is then, all for free I guess, very disappointed.

[ukgeorge] 12/6/2017 14:22

Just read the company update. The sooner it goes to arbitration the better. The next Zimbabwe.

[enami] 12/6/2017 13:38

Aye, all very disappointing. I was expecting a "Black Empowerment" BEE as happened in South Africa a few years ago - 30% ownership required by locals if I recall correctly.

The lowest price at the first bad news last month was 250p. Should it start falling below that then the next support levels are 192 (2014 low) then 154 (2015 low). The All Time Low is 93.5 in June 2013 - this matches the 1.618 Fib extension of the current correction.

[redbaron10] 12/6/2017 12:20

Ok i appreciate the Tanzanian government is angling for a fine and an increase in the tax take,but trashing the reputation and the share price of the largest international foreign investing mining company in your country appears very short-sighted and a bit dim in my view.

[mustau] 12/6/2017 12:15

Well disappointing, move over to Kenya asap.

[ukgeorge] 12/6/2017 11:50

An RNS saying acacia is in talks with The International Center for Settlement of Investment Disputes might help.

[edjge2] 12/6/2017 10:30

Assume still stockpiling but must be a limit. Shorters bounce to come on anything positive. 600,000 to pay well at correct time but those guys will have to wait or cut.

Maybe 10% down today

[stevea171] 12/6/2017 10:26

Yes, a stitch up but it's unlikely to be resolved quickly as both sides are digging in for a prolonged battle which could take 6 months or much longer to resolve.
The Tanzanian government want ACA to pay more and contribute more to the economy. That's the bottom line.
It's likely now ACA's closure plans for Buzwagi will be advanced.
All Capex and development in Tanzania likely to be suspended.
Accelerate move to other African jurisdictions that are business friendly.

Acacia Mining to lay off 100 Tanzania employees, close Buzwagi mine
Friday, May 19, 2017

Acacia Mining is set to lay off about 100 people before the end of this year as the company plans to close down its Buzwagi Gold Mine in Tanzania.

An internal memo, released on May 15 quotes Buzwagi Gold Mine general manager Stewart Hamilton as saying that the company will stop the mining activities at the site in December this year while other plant processes will cease in 2020.

“According to our plan on the closure of Buzwagi Mine, we have decided to reduce the number of our manpower by 100 as an initial stage of the total closure in 2020,” he said.

hxxp://www.businessdailyafrica.com/news/Acacia-Mining-to-lay-off-100-employees/539546-3933278-84f3a5/index.html

[redhill] 12/6/2017 10:02

Sounds like a big stitch up to me !

Perhaps Acacia should call their bluff by shutting off production at those two mines.

[airs999] 12/6/2017 10:01

I think the company or person who invested £600,000 on Friday will be licking their wounds this morning

[zedder] 12/6/2017 09:57

I don't imagine it would say much different from the one of 2nd June.

[ukgeorge] 12/6/2017 09:54

We could really do with an announcement from the company.....

[ukgeorge] 12/6/2017 09:48

Thankfully we have a strong and stable government here. And no chance of a left wing dictator trying to nationalise industries and steal assets. International arbitration.

[bigdazzler] 12/6/2017 09:39

I wouldn't want to be in this stock at moment.

Fishy games going on with the government.

Government v company if government has a hidden agenda and makes up the rules government wins every time.


1m loss everyday. Feel sorry for the shareholders.

[barrytipper] 12/6/2017 09:30

Does not look good -