Acacia Mining Share Discussion Threads

[glenkaz] 19/10/2017 17:02

So why the 40 point drop 🤔

[stevea171] 19/10/2017 16:55

Acacia Mining shares surge as Barrick strikes deal with Tanzania
Jon Yeomans. 19 October 2017 • 4:27pm

Shares in beleaguered gold miner Acacia surged more than 30pc after its majority owner Barrick revealed it had struck a tentative deal to resolve a bitter dispute with the Tanzanian government.

The stock jumped to 59.56p after Canadian mining group Barrick - which owns 64pc of Acacia - unveiled a breakthrough in talks.

However, it pared back some of the gains as investors noted the release lacked a number of details, including whether Tanzania will lift a crippling export ban it imposed in March; whether the government will take a 16pc stake in Acacia’s three mines; and what the size of the final tax bill will be.

Barrick said its executive chairman John L Thornton had signed an agreement with John Magufuli, the President of Tanzania, in Dar-es-Saleem that could pave the way for the country to take 50pc of the “economic benefits” from Acacia’s operations.

There were conflicting reports that this could entail a revenue - rather than a profit - split, although industry observers suggested Acacia would be unlikely to break even under such an agreement.

A working group has also been formed to resolve “outstanding tax claims” against Acacia, which will make a one-off payment of $300m as a gesture of goodwill.

Mr Thornton said: “A partnership requires trust between the parties, and transparency is the currency of trust. Through our discussions over the last three months we have established both and this will form the basis of our relationship in the future.”

Acacia’s management has sat out the negotiations with Tanzania over the last three months as it is understood the president preferred to speak to the parent company. Acacia appeared to be taken by surprise by Barrick’s announcement, telling investors it was “seeking further clarification” on the deal, which must go to Acacia shareholders for approval.

[pugugly] 19/10/2017 16:44

RED - Nice one - cynic !!

[redhill] 19/10/2017 16:41

Does this mean they will pay 50% of all losses then ?

Or does this mean there are no royalties to be paid & they share profits 50-50?

[novicetrade68] 19/10/2017 16:31

It must be profits, revenues would kill the company, wish it was more clear in these articles.

[letmepass] 19/10/2017 16:30

Could gap up or down tomorrow

[naithani] 19/10/2017 16:29

What is 50% of economic benefit. I believe it is 50% of profits.....any guesses??

[qs99] 19/10/2017 16:28

if market think the new deal is positive, will it benefit others in the region such as SHG which has this uncertainty overhanging it as well?

[mustau] 19/10/2017 16:27

Think they’ll eventually walk away from Tanz.

[glenkaz] 19/10/2017 16:23

🔥💀 burn again you b/stards! 🤡🖕

[novicetrade68] 19/10/2017 16:12

This is what the minister said during the press conference:

'Tanzanian justice and constitutional affairs minister Palamagamba Kabudi said the agreement was in keeping with the new mining laws passed in July.

“We have also agreed to have a 50:50 share of revenues between the government and Acacia Mining from all the mines,” he added.'

[redhill] 19/10/2017 16:10

What exactly is this 50-50 partnership?

It's all very vague and can literally mean anything but what i don't believe it means is that they get 50 % of any profits.

[glenkaz] 19/10/2017 16:07

Bolox 🤡✌A039;

[miahkaysor] 19/10/2017 16:06

THANK GOD! I DIDNT SELL!!!!

BACK TO £2.50????

[stevea171] 19/10/2017 15:59

Barrick will lay down the law to ACA.
If they veto the agreement between the TG and Barrick, what then?
If they want a better deal, good luck with starting their own negotiations with the TG.
The TG won't talk with ACA. Only Barrick.

[big_cat] 19/10/2017 15:53

Acacia notes that the Government of Tanzania ("GoT") and Barrick Gold
Corporation ("Barrick"), Acacia's majority shareholder, hosted a press
conference in Tanzania today to provide an update on the ongoing discussions.
Acacia has just received a copy of the framework agreement referred to in
Barrick's release and is seeking further clarification. No formal proposal has
been put to Acacia for consideration at this point in time. As stated at the
press conference, any proposal agreed in principle between Barrick and the GoT
will require Acacia's approval.

Acacia will consider any agreement once it receives the full details and a
further update will be provided when appropriate.

[colin12345678] 19/10/2017 15:52

ther you glen they heard you

[kemche] 19/10/2017 15:52

Algo vs Algo!

[glenkaz] 19/10/2017 15:50

They need to put out an rns now! 🤡✌A039;

[stevea171] 19/10/2017 15:49

The LSE should suspend trading until ACA comes out with a statement.

[glenkaz] 19/10/2017 15:48

£5k down now 🤡✌A039;

[colin12345678] 19/10/2017 15:48

Small trades pulling it down last bid to grab some i think sit tight

[mally6] 19/10/2017 15:47

CLOSING THERE SHORTS mms just shown their in control u cant buy now until theyve settled crazy no laws ruling them