Acacia Mining Share Discussion Threads

[redtrend] 26/7/2017 11:30

QS99 - yes completely bonkers approach not disputing that

And I had not seen the Bloomberg article UKGeorge just posted, however this is about taking more control as we already know and is stated in the new acts, rather than full scale nationalisation people are panicking about

[qs99] 26/7/2017 11:10

He may well do, but is he not approaching this in a bonkers manner which discredits him and his government internationally? Should get an agreement smartish with ACA, kiss and make up, get more wealth for locals (wonder who much individuals will shnaffle as is par for course it would seem in much of Africa?) and move on before investment community run a mile from TZ! GLA

[blindsquirrel] 26/7/2017 11:10

"We need to have our own local industries ... where we can produce products like clothes, then wear them and later sell them to Europeans as second-hand clothes instead of importing used clothes from Europe," he stated.
LOL

[redtrend] 26/7/2017 11:03

He was actually talking about the failed policy of national companies being privatised back in the 70s and 80s. This was predominantly agriculture and factories.

And yes, he has a point...

[bigdazzler] 26/7/2017 10:57

Wouldn't touch this with a barge pole.

IMO no mistakes by the government they are just making the rules up and in the end will take the mine back.

Company will be powerless country is bigger than company and it is clear the country are prepared to take on the negatives from just making stuff up.

[blindsquirrel] 26/7/2017 10:50

UK George,

Can you post a link to this article please. Cheers

[mj19] 26/7/2017 10:46

No reason for it to climb up just yet right

[lefrene] 26/7/2017 10:30

Talking about putting more in his own pocket, more like! If it follows the classic African model, the mine will swiftly fall into disrepair, and the imbeciles will be stood on a dung heap fighting each other for crumbs.

[ukgeorge] 26/7/2017 10:25

President Magufuli, talking about nationalisation, gaining more from mining etc etc today.

[edjge2] 26/7/2017 10:01

had a punt on SHG wait on this

[edjge2] 26/7/2017 09:57

Evil Kneival has had ago at these at 160 odd, so far 160 holding.
He hopes penalty is in local shillings!

[evil_doctor_facilier] 26/7/2017 09:43

hxxps://steemit.com/cryptocurrency/@enkrypton/plexcoin-the-next-cryptocurrency-confirmed-scam

PlexCoin "the next cryptocurrency" confirmed scam

[blindsquirrel] 25/7/2017 21:18

air
I'm well out mate and would advice anyone to do the same. Only good news will make this rise and I think it is unlikely. If there is though there will still be a chance to get back in. I bought this and petrofac when they sank but this kept falling so sold. Made decent on petrofac but just covered the loss on this.

[airs999] 25/7/2017 20:15

Blind squirrel have you not sold yet?

[blindsquirrel] 25/7/2017 20:08

red, fair point, and tbh not too sure about their assets in other countries so will look into it.

[redbaron10] 25/7/2017 19:55

Hey blindsquirrel we could always apply a bit of creative accounting similar to the Tanzanian claim for $190bn in fines/interest/back taxes.Instead of a value of just 30p a share for money in Acacia's bank account ,we could attribute a huge value to the Kenyan,Burkina Faso and Mali assets that Acacia own.Howabout a nice number of $1.5bn all in.Forgetting the small matter of the $190bn fines,Acacia has a market cap of $2bn and share price around £5-£5.50.Sorted.

[sarpanch] 25/7/2017 19:44

Agree it will be a tough ride but decided to hold for the mean time as well.

"Even if a resolution is found you can't have same amount of confidence in Tanzania that this won't happen to another company again." Magufuli last week threatened to shut all gold mines in Tanzania if mining companies delayed talks to resolve the dispute over billions of dollars in back taxes the government says they owe.

"These claims are hard to fathom when compared with the total revenue from these mines of $9.4 billion since inception and Tanzania's GDP of $46 billion," Barclays said in a note.

[blindsquirrel] 25/7/2017 18:53

If we assume the cash in bank valuation my rough calculation is around 30p per share! and the cash in bank will be quickly depleting without income.

[blindsquirrel] 25/7/2017 18:48

Interesting statements from Investec and Shore and highlights the growing concern that this will not be resolved quickly/favourably. Could be another slide tomorrow.
Analysts at Investec pointed out that the $40bn tax bill is more than twice what the top five global gold miners combined have paid in taxes since 2000, adding that the company's hope for "rational discussions" look increasingly unlikely. Analysts said:

In an earlier research note we expressed concern over the behaviour and intent of the Tanzanian president and suggested that Acacia is a binary investment: worth what it was before the current situation, or it is worth the cash in its bank.

Back of mind was a view that sense would prevail, given parent Barrick appeared to have laid some grounds for rational discussions. However, this looks increasingly difficult to envisage.

[redbaron10] 25/7/2017 17:50

Tanzania, as a country,is going to learn a very expensive lesson from all this.I hope their tourism and agricultural sectors hold up,because that is all that's going to save them now.Its pariah status for foreign investment is all but assured now.

[edjge2] 25/7/2017 16:29

shg getting a bit too. Going to be buy and a half at correct time!
Suspect 160's will not hold here