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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Acacia Mining Plc | LSE:ACA | London | Ordinary Share | GB00B61D2N63 | ORD 10P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 234.00 | 234.60 | 235.40 | - | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
Date | Subject | Author | Discuss |
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20/10/2017 09:53 | I can't see why the price rose on notification of this deal. It isn't a deal - it is total capitulation. | augustusgloop | |
20/10/2017 09:46 | New info from the CC from Q&A: $170 million VAT repayments due going back about 18 months. TG has not released VAT refunds to anyone in the country during this time. If repayment is not received ACA can offset tax against the VAT due. $250 million net ($270 million gross) of gold/copper concentrate affected by the export ban. This has accumulated from March to September. When the export ban is lifted ACA imagine this will be processed under current smelter agreements over 6-7 months. $300 million to be paid to TG. No schedule for this payment has been agreed but will be discussed by the working group being set up. 50/50 economic benefit does not mean TG gets 50% of revenue or profits. | stevea171 | |
20/10/2017 09:24 | Blue day coming | letmepass | |
20/10/2017 08:44 | Great swings, I’m back to evens, the deal seems to me best for all concerned. | mustau | |
20/10/2017 07:50 | ADVFN RNS ISSUANCE SYSTEM IS NOT WORKING | gersemi | |
20/10/2017 07:46 | What volatility will today bring 🤔 | glenkaz | |
20/10/2017 07:46 | Barrick Gold Resolves Dispute With Tanzania, Strikes Partnership Deal -- 2nd Update 19/10/2017 9:34pm Dow Jones News By Jacquie McNish and Nicholas Bariyo TORONTO -- Barrick Gold Corp. said its African subsidiary will make a $300 million payment to the government of Tanzania as part of an agreement to resolve tax and revenue sharing disputes over its three gold mines in the country. The Toronto-based mining company also said its majority controlled Acacia Mining PLC has struck a framework for a new partnership that will hand the African government 50% of the economic benefits of its mining operations. The details of the agreement weren't immediately available, prompting Acacia to issue a short news release stating it had yet to review the specifics of the plan, which is subject to its board's approval. Barrick issued a second statement Thursday afternoon stating its 63.9%-owned Acacia will form a new operating company with Tanzania's government to hold its three gold mines in the country. The new company will split "economic opportunities" with Tanzania in the form of royalties and tax payments. Acacia has committed to increase local hiring and supply purchases. Barrick said it is still in talks with Tanzania about the terms of lifting the country's ban on Acacia's exports of gold concentrate imposed earlier in March. Acacia is Tanzania's biggest gold miner in the country with $1 billion in annual revenue. It was served with a $190 billion bill earlier this year for what Tanzanian authorities have said were unpaid taxes, penalties and interest accumulated over the past 17 years. Aggressive actions by Tanzania President John Magufuli, who earlier this year declared an "economic war" on foreign miners, prompted some companies to cease or scale back mining operations in the country. Benjamin Mchwampaka, minerals commissioner with Tanzania's mining ministry, said the government had negotiated "a very good deal" with Acacia, which he said was in line with a July revamp of the country's mining laws. "Apart from the legal requirements, we will be sharing revenues equally with Acacia Mining, this is what we have been pushing for all along," Mr. Mchwampaka said. "We are very pleased." He said the government plans to start negotiations on revenue sharing with other mining companies, as it pushes to double the mining industry's contribution to gross domestic product to 10% by 2025. The agreement was signed in the Tanzanian city of Dar es Salaam on Thursday morning following a meeting with Barrick Executive Chairman John Thornton and Mr. Magufuli. "We have developed a framework for a modern, 21st century partnership that should ensure Acacia's operations generate sustainable benefits and mutual prosperity for the people of Tanzania, as well as for the owners of Barrick and Acacia," Mr. Thornton said in a statement. | stevea171 | |
19/10/2017 23:17 | Dispute tanz government had with aca was $190bn back tax payments for 17yrs for which they restricted aca revenuesSo this deal they have waivered the back tax for a 300mil upfront payment and a 16% stake and a 50.50 of profits.Everyone happyAca back to mining with government by it side win win | mally6 | |
19/10/2017 23:02 | Love to see this £5 again 🤡👍 | glenkaz | |
19/10/2017 22:09 | If im reading this correct Barrick owns 63% of aca and barrick has done the deal as majoroty shareholder | mally6 | |
19/10/2017 22:03 | Glen i think deal is done expect rns anytime just a delay should fly tmrw | mally6 | |
19/10/2017 21:43 | Rns has to come with deal asap! Maybe tomorrow 🤡✌A | glenkaz | |
19/10/2017 21:04 | Cheers Steve, having read some more news on ACA it seems Tz getting a smelter too for free is indeed not likely to happen. | novicetrade68 | |
19/10/2017 19:25 | Novicetrade. No smelter will be built as the expense and volume was never justifiable which the TG well knew. Instead ACA advised last month that it will produce gold dore only in place of concentrate from at least one of the two mines with part of the output in concentrate form so that from September the TG can't hold the concentrate hostage. 22 September 2017 THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION Acacia Mining plc LSE:ACA ("Acacia" or the "Company" or the "Group") Positive Results from Buzwagi Processing Trial Acacia is pleased to announce positive results from the processing trial underway at Buzwagi that has been designed to maximise gold doré production from the mine. Buzwagi currently produces both doré (gold bars) and a gold/copper concentrate (with over 90% of the value of the concentrate being gold). During 2017, gold/ copper concentrate has accounted for approximately 65% of Buzwagi's gold production. Since 3 March 2017, however, 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 results of the processing trial to date have indicated that Buzwagi should be able to achieve gold recoveries of around 85% through the additional use of reagents in the leaching circuit at limited additional operating costs. All of the recovered gold will be produced in doré form. Buzwagi previously intended to end concentrate production in Q2 2018, but as a result of the trial the mine will solely produce doré from now until the end of its life in 2020. There are no changes to group production or cost guidance resulting from this processing change, however it will result in Buzwagi being able to sell an additional 8,000-10,000 ounces per month for the remainder of the year. As such, Government royalties and local service levies (which are based on revenue) from Buzwagi are expected to more than double for the remainder of the year due to the increase in sales compared to the last 6 months. We believe 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. | stevea171 | |
19/10/2017 19:24 | We'll if we get rns sighing official! Hello 3p++++++ 🤡✌A | glenkaz | |
19/10/2017 19:04 | Centamin is 50/50 with Egyptian government.... | nina65 | |
19/10/2017 18:51 | so a deal is on the table aca cannot confirm until its signed so news could be anytime. mining companies do take advantage of the countries there in so the government has its rights to demand benefits.on aca side having the government as a stakeholder would be a gamechanger so hope they strike a deal and get on with mining will be to its benefit. couldnt believe the drop but nowit makes sense as the deal is not confirmed should trickle up until confirmation | mally6 | |
19/10/2017 18:15 | Telegraph article is interesting, so the final tax bill still isn't sorted and I read elsewhere that ACA is going to pay for a smelter too somewhere in the country. | novicetrade68 | |
19/10/2017 17:09 | 12 October 2017 Acacia Mining plc LSE:ACA ("Acacia" or the "Company") Third Quarter Production and Sales Update Acacia notes Barrick Gold Corporation's ("Barrick") announcement yesterday evening that it would be publishing its third quarter production and sales results, which will include Barrick's 63.9% share of Acacia's operations, later today. Ahead of that release Acacia confirms that it produced 191,203 ounces of gold and sold 132,787 ounces of gold during the third quarter. Production was ahead of expectations at Buzwagi (69,097 ounces), driven by strong grades, with production at North Mara (72,011 ounces) and Bulyanhulu (50,094 ounces) impacted, as previously flagged, by work permit issues and moving to reduced operations respectively. Sales were below production due to the ban on the export of gold/copper concentrate produced at Bulyanhulu and Buzwagi from Tanzania. Acacia will provide more details within our third quarter results on the 20th October 2017. The results will be accompanied by a conference call for investors and analysts at 09:00 BST on the same day. | stevea171 | |
19/10/2017 17:05 | Uncertainty Glen | patmike |
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