Acacia Mining Share Discussion Threads

[ukgeorge] 27/7/2017 17:30

hxxp://markets.businessinsider.com/news/stocks/r-barrick-president-very-positive-on-tanzania-talks-to-resolve-ban-2017-7-1002211677

Barrick president: 'very positive' on Tanzania talks to resolve ban

[casano] 27/7/2017 17:09

Well it's a bit too late today but tomorrow am should be interesting to say the least...

[emptyend] 27/7/2017 17:08

UKGeorge.....not really....Blackrock have raised their position by 21% in the last 6 weeks

[temmujin] 27/7/2017 17:03

over 200p tomoro..fill ya boots!

[casano] 27/7/2017 16:49

Of course there was...read the rns!

[ukgeorge] 27/7/2017 16:21

something must have been said in the webcast from barrick just happened

[ukgeorge] 27/7/2017 16:14

hxxp://www.barrick.com/investors/presentations/default.aspx

[casano] 27/7/2017 15:53

Talks underway - RNS on Vox

[ukgeorge] 27/7/2017 15:50

Yes I was thinking similar

[qs99] 27/7/2017 15:40

Should see decent movement in SHG as well imo if ACA get sorted out! Gla

[ukgeorge] 27/7/2017 15:36

Blackrock have had near enough the same since Q1 2016.

[emptyend] 27/7/2017 15:22

.....see #975.......They aren't dummies.

[wookie77] 27/7/2017 15:04

Barrick to buy ACA back in to protect position?

[enewman36] 27/7/2017 15:03

something's up for sure

[novicetrade68] 27/7/2017 14:57

I think the Chinese will also be careful here as they've already been screwed a few times in Africa. For African nationalists it doesn't really make much of a difference whether you're a colonial European, Chinese or Indian, they'll take advantage of you regardless if they can.

[novicetrade68] 27/7/2017 14:53

Interesting that ACA on the TZ stock exchange still trades around £2.50. Panicking UK punters must be a dream for anyone who can sell these on for nearly a pound higher in TZ.

[airs999] 27/7/2017 14:52

I see a few rounds of talks, with each failed one lowering things further

[big_cat] 27/7/2017 14:46

UK government is unlikely to intervene, as any pressure would push Tanzania into Chinese hands ala Mugabe and Zimbabwe.

The only outcome I can see is part nationalisation, a few Mercs and container loads of Whisky, and Bob's your uncle. Under that scenario, share price is unlikley to reach previous highs for many years. Unless of course, the mercenaries get on into action and overthrow TG.

[ukgeorge] 27/7/2017 14:35

Fingers crossed, for Barrick sorting or at least starting to sort this out next week.

I am hopeful that they will get the export ban lifted first, that should add a good 50p or so then expect discussions to drag on. Still a gamble obviously.

Who knows what caused that little spike, maybe Magafuli, closed some shorts

[redtrend] 27/7/2017 13:54

Ridiculous for some to claim there is no recourse for Acacia in the event there was wholesale nationalisation (which I still do not think will happen) - some people need to brush up on their international arbitration.

Repsol - Argentina would be a good start. Argentina was dependant on private foreign investment - Repsol pulled enough levers to scare any new entrants for fear of legal action and lodged complaints with the World Bank, in conjunction with arbitration. Eventually Repsol received offer of $5bn from the Argies for their expropriated assets and decided to settle. Represented half of the inflated $10bn they requested from the arbitrators, but if they felt inclined they could have proceeded with arbitration.

Tanzania are not only hugely dependant on private foreign investment, but also foreign investment from "public" bodies (World Bank and EU the most prominent). In the event it really reached the stage of expropriation, complaints and appeals would be lodged. Public and Private funding would dry up. Acacia would proceed with arbitration, it really doesn't matter if Tanzania has changed its laws. Any decision would have to be enforced by the international community. If Tanzania refused to abide by any decision, sanctions and confiscations of assets would follow. Any overseas funds/ assets and the gold concentrates they can't refine in-country would be a start.

And for those who believe China will swoop in to Tanzania's rescue, which would be hugely damaging to Magufuli politically and hardly help with his populist agenda, China is a signatory to the New York Convention on the Enforcement of Foreign Arbitral Awards and has a very good record in abiding by arbitration decisions. Chinese companies have been burnt with a number of seizures in Africa where fraud was alleged(diamond mines in Zimbabwe for example), so they're hardly going to risk going all-in and risk it with Magufuli, if he continues to go down this route.

[lefrene] 27/7/2017 12:46

I believe that China will end up owning Africa and they will have no compunction about sending in troops to protect their assets, just like the Brits in the 18th and 19th centuries. Once Mugabe has gone who will really be running Zimbabwe? It's going to be fascinating, and just how long before the Afro's start demanding that old whitey rescues them from the Chinese!

In the meantime if the current robber baron of Tanzania has any sense he will settle for a deal squeezing a few more Mercs and private jets out of Barrick, but he will have unsettled all the foreign owned businesses in the country and likely will have caused those businesses to reduce their planned investments. If he genuinely wants smelters in the country, then he has gone about it in a very damaging way.

[casano] 27/7/2017 11:53

"TG means business", are you having a laugh? For argument sake, if ACA have not been paying up for 20yrs or so, then what have the authorities being doing for this time? Anybody can make wild baseless claims, no proof or evidence has yet been provides, so obviously will never stand up in any law abiding court.