Acacia Mining Share Discussion Threads

[grupo] 02/10/2017 17:28

(Boursier.com) - The Crédit Agricole Group has obtained the ISO 37001 international certification for its anti-corruption system. It is the first French bank to be ISO 37001 certified for its anti-corruption system.

Issued by Euro Compliance, this ISO 37001 certification recognizes the Group's determination and the quality of its program to prevent corruption. It attests that the risks of corruption have been correctly identified and analyzed and that the program applied by Crédit Agricole is designed to limit these various risks by adopting international best practices. It covers all Crédit Agricole Group businesses.

In particular, the Crédit Agricole Group has adopted an Ethical Charter setting out its principles of action: a commitment to fight corruption, prevent fraud and protect the integrity of markets.

[waldron] 29/9/2017 18:30

(CercleFinance.com) - Crédit Agricole announces the conclusion of an agreement to acquire a 95% interest in the share capital of the Cesena, Rimini and San Miniato Savings Banks.

The terms of the contract will thus enable the three banks to have a solid financial structure, a prerequisite for them to once again play their role of accompanying the development of their respective territories, to Crédit Agricole Cariparma to contribute to strengthen the Italian banking system and to conduct a long-term value-creating transaction, in strict compliance with its investment criteria, 'explains the group.

The transaction is expected to be completed by the end of 2017.

In line with what was announced in April 2017 at the opening of the negotiations, the impact of the transaction on Crédit Agricole SA's and Crédit Agricole Group's CET1 ratios would be around 10 bp.

[ukgeorge] 22/9/2017 15:47

Acacia Mining (ACA LN) 184 pence, Mkt Cap £756m – Metallurgical innovations at Buzwagi protecting jobs
• Acacia Mining reports that trials of additional reagents in the leaching circuit at its Buzwagi mine in Tanzania have delivered gold recovery rates of around 85% opening the way for the mine to increase its production of saleable gold dore.
• Prior to the Tanzanian Government’s imposition of a moratorium on sales of gold concentrate in March 2017, Buzwagi produced around 65% of its gold in the form of a copper/gold concentrate with only 35% as dore.
• As a result of the changes introduced “the mine has been unable to export and sell its concentrate, and as such has only been selling approximately 35% of its gold production, whilst incurring 100% of the cost of production”.
• The capacity to increase production of dore “will result in Buzwagi being able to sell an additional 8,000-10,000 ounces per month for the remainder of the year” and the mine “will solely produce doré from now until the end of its life in 2020”.
• This is expected to “more than double” Buzwagi’s revenue for the remainder of the year and the company believes “that the changes will move the mine from a monthly cashflow negative position to a monthly cashflow positive position, strengthening Acacia’s balance sheet and helping to protect thousands of direct and indirect jobs that the Company supports.”
Conclusion: The increased leaching capacity, albeit at “limited additional operating costs” offers Buzwagi the opportunity to ameliorate the impact of the concentrate export ban, repair its balance sheet, restore the payment of royalties and other local charges, and help preserve jobs.

[edjge2] 22/9/2017 08:23

Mine likely to go into maintenance, TG not budging. Then maybe dives to 100 with jump on resolution.

[qs99] 20/9/2017 09:50

bit of a leg up all of a suddeN?

[augustusgloop] 19/9/2017 09:48

There is no negotiation.

Posters here and Barrick are assuming that the rules of business of Adam Smith are being followed.

But the Tanzanian Govt are following game theory - as per John Nash.

Two cars are racing at each other - playing a game of chicken.
Will the TG or Barrick swerve first?

Playing game theory - the TG have chucked their steering wheel out of the window - they can't swerve. [Their statements mean that they will lose all political credibility if they back down.]

Barrick now have the choice to swerve - and hence lose a lot.
Or to not swerve and lose everything.
They know that the TG can't swerve.

Its game theory - and TG are playing it well.

[redtrend] 19/9/2017 09:04

I did think it may go to the wire, which was effectively end of Sept when mines go on care and maintenance.

However with escalation on Petra Diamonds in similar position, negotiation may go into Q4

[fsawatcher] 19/9/2017 08:50

my expectation is 100p tested when next leg down happen

[fsawatcher] 19/9/2017 08:48

it good idea sellin coz this goin much lower

city want lower price so they can recoup losses

if you long termers it dont matter much

but traders gone long gonna get stung when next rns come out if bad

[redhill] 19/9/2017 08:39

Who would have thought that talks could last this long.

[edjge2] 18/9/2017 22:11

Barrick moving up, UK that looks probable forACA. Negotiation likely to extend further. Massive bargain if this lot get going again.

[ukgeorge] 18/9/2017 21:33

Looks like these are about to have a sharp fall again. Only from looking at the chart.

[waldron] 13/9/2017 12:31

European banks shuttered over 9000 branches last year
32 minutes ago | 396 views | 0 euro

European banks closed over 9000 branches last year and shed 50,000 staff as customer defections to online and mobile channels surged, according to data from the European Banking Federation.
The overview shows that banks have continued to scale back their physical presence across Europe as the importance of widespread bank branch networks is reduced.

The number of bank branches in the EU declined to 189.270 in 2016, a dip of 4.6% on the previous year. The figures show an upward curve from 2015, when just three percent of the Bloc's branches were lost.

Looking across a wider timescale, European banks have shuttered more than 48,000 branches since 2008, a contraction of 20.4%.

Staff numbers also slipped, falling to 2.80 million last year from 2.85 million a year earlier. This compares to 3.26 million in 2008.

[waldron] 12/9/2017 09:56

French banking group Credit Agricole SA (ACA.FR) said Tuesday it will sell a 16.2% stake in Banque Saudi Fransi (1050.SA) to Saudi Arabia's Kingdom Holding Company (4280.SA).

Kingdom Holding Company will pay 5.8 billion Saudi riyals ($1.55 billion) for the stake, equivalent to SAR29.50 per share.

Credit Agricole will retain a 14.9% sharehold in Banque Saudi Fransi, or BSF, but said it was open to selling a further 5% as long as the deal was on "equally favorable terms."

The French bank expects to complete the transaction in the second half of the year and is committed to maintaining a 9.9% stake in BSF for one year after the deal is closed.

Credit Agricole has been active in Saudi Arabia since 1949 and associated with BSF since its formation in 1977.

The BSF deal aligns with Credit Agricole's strategy of reducing its non-controlling interests in companies and will strengthen its fully-loaded Common Equity Tier 1 ratio--a measure of financial strength--by around 20 basis points, the company said.



Write to Nathan Allen at [e-mail]



(END) Dow Jones Newswires

September 12, 2017 03:45 ET (07:45 GMT)

[waldron] 12/9/2017 08:37

Crédit Agricole: sale of 16.2% of the share capital of BSF.
Credit Agricole (EU: ACA)
Intraday stock chart

Today: Tuesday 12 September 2017
More Charts of the Crédit Agricole Stock Exchange
Crédit Agricole SA announces that its subsidiary Crédit Agricole CIB has signed a contract with Kingdom Holding Company (KHC), a Saudi holding company, to sell a 16.2% stake in Banque Saudi Fransi (BSF ).

This sale, for a total amount of approximately 5.8 billion Saudi rials (ie a price per share of 29.5 rials), representing about 1.3 billion euros. Crédit Agricole CIB reduced its stake in the BSF to 14.9%.

The transaction will have a positive impact of approximately 20 basis points on Crédit Agricole SA's fully loaded CET1 ratio. Its implementation, which remains subject to the approval of local regulators, is expected to take place in the second half of 2017.

Crédit Agricole CIB also reserves the right to sell off the market up to an additional 5%, but has undertaken to maintain a minimum of 9.9% stake in the BSF for a period of one year from the date completion of the transaction.

[sportbilly1976] 11/9/2017 14:37

Other Companies suffering the Govt's attention..

[happyholder123] 09/9/2017 08:43

HNR -
TWO wells successfully drilled with abundant oil and gas in samples extracted!
Fracking and FIRST OIL next month!
Don't miss this train!

[sarpanch] 08/9/2017 23:52

"I heard others are reducing their workforce, I wish they would say they are leaving," he said. "Because if they leave, we can just take ordinary citizens who can go in there and mine."The leader of a country should not make a statement like that. He is keep sending the wrong message to international investors. He is just going to use the mining sector for his political gain and run these companies to the ground.

[redhill] 08/9/2017 21:30

Reported in the Tanzanian Daily news in a Presidential speech.

"He said the talks with those companies are still ongoing but the government has never disclosed its officials who engage in talks with the companies for security reasons.

He further wondered some of the mining companies threatening to retrench some workers due to ongoing ban on mineral concentrates, saying he could be happy if the companies surrender the mines so that the government allows the Tanzanians to own the mines."

He doesn't want much does he.

[augustusgloop] 07/9/2017 18:35

QS99

What he didn't mention is that these cycles last about 50 years.

Africa is at the very early stages of taking ownership of land / mines / farms - away from white's and white owned companies and giving them to black locals.

This cycle is not going to reverse anytime soon.

[qs99] 07/9/2017 18:23

anyone in ACA and still wants "in" to TNZ, listen in to SHG's CEO interview today, very interesting and talks of a "cycle" that TNZ is going through.....DYOR but maybe these sorts of things provide good opportunities!

[redhill] 07/9/2017 15:42

That's probably good news for Acacia.Takes the spotlight off them.