Acacia Mining Share Discussion Threads

[redhill] 22/2/2019 12:14

casual47

Might be something to do with the TZ government holding 16% of the new Company which can increase to 50% if they have a mind to.

[casual47] 21/2/2019 20:46

Why wouldn't Barrick hold on or indeed want all of it?

They operate in far worse places.

These are premium assets.

[redhill] 21/2/2019 20:20

Maybe chip but i think this will be a burden around them for quite a few years.
It will be interesting to see how it pans out. Will Barrick want to hang on to it.

[chipperfrd] 21/2/2019 11:05

Redhill, they have cash of US$130m (net cash of US$87.6m) and are owed c. US$100m by the Tanzanian government. So even if they cannot negotiate the US$300m lower (or litigate against it) they could cover the total with their cash, tax refund and 2019 FCF. And presumably they would resume concentrate production and sales - increasing forward FCF.

[casual47] 21/2/2019 10:34

With guidance to resume to around 900k oz pa once they get back into normal production the $300m shouldn't be a major issue if they can spread it over a few years.

[casual47] 21/2/2019 10:12

The key change of the current proposal vs the one they floated initially is that the $300m would be paid not upfront but "to be paid over time on terms to be settled by the parties" (as per the Barrick press release).

Of course, this is only the opening gambit and the terms may improve once ACA BOD reviews and especially once the minority shareholders give their vote on it, assuming it goes that far.

I still foresee a shareprice between 300p and 500p as likely over the next 12-24 months. Nearer to 300p if Barrick decides to buy us out, nearer to 500p if ACA resumes normal operations and dividends.

And, imo, these are now the only two possible outcomes here: Barrick buys us out or all issues get resolved and ACA resumes normal operation.

[redhill] 21/2/2019 09:44

So where are Acacia going to find $300 million ?

[casual47] 21/2/2019 08:38

Up more than 30% on the week. Not bad!

[phil2003] 20/2/2019 16:21

Acacia Mining Parent Barrick Agrees Proposal With Tanzania Government.
Alliance News20 February, 2019 | 2:40PMEmail Form


LONDON (Alliance News) - Acacia Mining PLC said Wednesday that majority shareholder Barrick Gold Corp has tabled a proposal with the Tanzanian government over a resolution to the miner's problems in Tanzania.
Shares in Acacia Mining were up 9.5% on the news at 246.44 pence each.
Its majority parent Barrick Gold, which has a 64% stake in Acacia, has been engaging with the government on Acacia's behalf to try to resolve the dispute.
The Toronto-listed gold miner announced Wednesday its has "arrived at a proposal" on commercial terms to resolve the dispute.
Barrick will present the proposal to Acacia "in the near future".
The proposal includes the creation of a local operating economy to manage Acacia's operations in the country.
The framework also sets outs Acacia's economic benefits from its operations are to be split 50/50. The Tanzania government will receive its share in royalties, taxes and a 16% increase in its interest in Acacia's operations in Tanzania.
Finally, the government of Tanzania is asking Acacia to pay USD300 million to resolve all outstanding tax claims.
In October, three subsidiaries and one current and one former employee were charge under Tanzania's anti-money laundering laws, while a week before that another employee was also charged with corruption.
Acacia has had more issues in Tanzania, getting a USD130,000 fine for breaching environmental rules after a "hazardous" seepage at the North Mara mine, though Acacia said it was unaware of a problem.
Barrick has recently merged with former FTSE 100 member Randgold, and in November the Times reported the newly formed group could look to fully buy out Acacia.
By Paul McGowan; [e-mail]
Copyright 2019 Alliance News Limited. All Rights Reserved.

[casual47] 20/2/2019 15:59

The real gap is between 300 and 500p.

Doesn't look quite as out of reach on a day like today....

[zedder] 20/2/2019 15:07

Hopefully gapping back up to the 280p level!

[maywillow] 20/2/2019 11:07

Credit Agricole SA (ACA.FR) said Wednesday that it has invested in Thegreendata, a French startup focused on agriculture and technology, as part of its broader goal of helping develop tech companies in the agriculture sector in France.

The French bank said that it participated in Thegreendata's first funding round. The startup, which uses algorithms and big data to develop tools, has raised 2 million euros ($2.3 million) in total, it said.

The bank didn't disclose any further details of its investment.



Write to Olivia Bugault at [e-mail]



(END) Dow Jones Newswires

February 20, 2019 05:10 ET (10:10 GMT)

[the grumpy old men] 19/2/2019 07:46

CREDIT AGRICOLE SA : Unchanged ECB capital requirements for Crédit Agricole Group and Crédit Agricole S.A.
19/02/2019 7:15am
GlobeNewswire



Unchanged ECB capital requirements for Crédit Agricole Group and Crédit Agricole S.A.

The European Central Bank (ECB) recently notified Crédit Agricole Group and Credit Agricole S.A. group their capital requirements , confirming the current additional requirements in respect of Pillar 2 (P2R) ie 1.5% for Crédit Agricole Group and for Crédit Agricole S.A.

For Crédit Agricole Group, taking into account the combined regulatory buffers (conservation buffer, systemic buffer amounting to 1%, and countercyclical buffer reaching 3bps as at January 1st 2019 ), the CET1 level that would trigger the Maximum Distributable Amount mechanism would be 9.78%. This level should be compared to the current CET1 ratio amounting to 15% as at December 31st 2018.

Crédit Agricole S.A., as the central body of Crédit Agricole Group, fully benefits from the solidarity mechanism as well as internal flexibility on capital circulation within the very strongly capitalised Crédit Agricole Group. No systemic buffer applies to Credit Agricole SA group, only conservation buffer and countercyclical buffer amounting to 5bps as at January 1st 2019. The CET1 level that would trigger the Maximum Distributable Amount mechanism would be 8.55%. This level should be compared to the current CET1 ratio amounting to 11.5% as at December 31st 2018.

[casual47] 18/2/2019 11:50

If there is a buyout then I think 300p+ should be feasible.

If Acacia continues as is and solves the problems with the Tanzanian government then there's no reason this can't go 500p+ again longer term.

[phil2003] 16/2/2019 22:17

This should go to £2.35 then down to £2.18(ish) then back upto £2.65.
Couple that with gold production estimate beaten by 10% and strong gold prices..

I’m a recent holder from £1.82 who’s invested for 2030.

[p winky] 16/2/2019 06:05

Any guesses where this price is heading, I think there was an earlier chartists saying 220 was where the target was, what's your thought casual

[grupo] 15/2/2019 22:25

Credit Agricole: UBS remains buyer with a target lowered from 14 to 13.10 EUR.

[casual47] 15/2/2019 12:43

Not a bad share to be in mainly because Barrick will probably buy us out in the next few weeks and they will probably have to pay a decent premium.

Recession or gold price are irrelevant for such a short term play.

[p winky] 15/2/2019 12:38

Not a bad share to be in with gold staying above 1300, less volatility in tanz. And USA recession hints.

[waldron] 14/2/2019 15:34

Credit Agricole SA (ACA.FR) reported results for the fourth quarter on Thursday. Here's what you need to know:



PROFIT: Net profit for the period was 1.01 billion euros ($1.14 billion) compared with EUR387 million a year earlier. Analysts had expected a profit of EUR886 million, according to a consensus forecast provided by FactSet.



REVENUE: Revenue rose 4.3% on year to EUR4.85 billion, surpassing analysts' expectations of EUR4.81 billion.



WHAT WE WATCHED:



INVESTMENT BANKING: The bank's capital-markets and investment-banking operations reported a 29% decline in revenue.



CAPITAL: Credit Agricole's core Tier 1 ratio, a key measure of capital strength, was stable at 11.5% in December.



NEW PLAN: The French bank will present a new plan through 2022 in June. "In 2018, Credit Agricole SA's business lines surpassed the main objectives of the medium-term plan one year ahead of schedule," Chief Executive Philippe Brassac said.



Write to Pietro Lombardi at [e-mail]



(END) Dow Jones Newswires

February 14, 2019 07:30 ET (12:30 GMT)

[florenceorbis] 14/2/2019 10:43

Read more at:
Copyright © BloombergQuint

[florenceorbis] 14/2/2019 09:57

14/02/2019 | 9:45
Crédit Agricole SA publishes an underlying net income group share of the fourth quarter of 2018, up 21.6% to 1,067 million euros, or 0.33 euros per share, and underlying gross operating income in decline of 1.2%.

The underlying net banking income amounted to 4.814 million euros, stable (+ 0.1%) thanks to a good resilience of the poles exposed to the unfavorable market environment and the growth of other businesses, in particular retail banking. Italy (+ 17.5%).

With underlying EPS up 13.8% to € 1.39 per share over 2018, the Board of Directors will propose a dividend per share of € 0.69 per share, up 9, 5% compared to the one paid for 2017.

[waldron] 14/2/2019 07:18

Credit Agricole SA's (ACA.FR) fourth-quarter net profit rose substantially, supported by higher revenue and lower tax expense, beating analysts' expectations.

Net profit for the period was 1.01 billion euros ($1.14 billion) compared with EUR387 million a year earlier, the bank said Thursday. In the final quarter of 2017 the results were hit by exceptional charges related to tax.

Revenue for the quarter increased 4.3% on year to EUR4.85 billion while tax expense fell 68%.

The profit result beat analysts' expectations of EUR886 million, according to a consensus forecast provided by FactSet.

On an underlying basis, which excludes exceptional items, net profit rose almost 22%.

The results were achieved "despite a much less favorable environment than in fourth quarter 2017 and in the first three quarters of 2018, especially for activities related to capital markets, and in particular for asset- and wealth-management and for capital markets and investment banking," the bank said.

"These are the only business lines that saw their contribution decline from fourth quarter 2017," it added.

Amundi's revenue for the quarter declined 18% on year while the capital-markets and investment-banking operations reported a 29% decline in revenue.

For the full year, the French bank reported a 21% increase in net profit to EUR4.40 billion.

Credit Agricole's core Tier 1 ratio, a key measure of capital strength, was stable at 11.5% in December.

"In 2018, Credit Agricole SA's business lines surpassed the main objectives of the medium-term plan one year ahead of schedule," Chief Executive Philippe Brassac said.

The bank's medium-term plan was presented in 2016 and set financial targets until 2019. Credit Agricole will present a new plan through 2022 in June.

The French bank said it would pay a cash dividend of EUR0.69 per share, a 9.5% increase from the previous year.



Write to Pietro Lombardi at [e-mail]



(END) Dow Jones Newswires

February 14, 2019 01:21 ET (06:21 GMT)