tornadotony
24 May 2017
What Acacia must do 1. Examine all their own mine plan measurements throughout the process. Identify all areas that are calibrated and linked to external standards outside of the company. Identify any external quality control audits in all aspects of the company. Identify compliance to all the relevant ISO standards where they can be applied. 2. Identify security issues around their material and identify any opportunities of contamination.3. Seek details from the Tanzanian authorities on their measurements and what internal and external quality control is applied. Identify their own as well as the Tanzanian Government's accreditation status on its laboratory measurements. Identify security of the samples they took for analysis. 4. The company must be allowed a third party forensic test at an agreed accredited laboratory. If this is denied it suggests that it is the Tanzanian Government that has things to hide. I can not believe that Acacia has been rifling thousand's of ounces of gold from Acacia investors and the Tanzanian government. The immediate firings and instant demand for a massive royalty payment does not appear to look right from the Government side.The reason why Acacia is not investable is due to the fact that it is in Tanzania. If the President wants a smelter, I am sure a few gold mining companies can build one and all own part of it. If the committee have falsified evidence then it is the reputation and credibility of Tanzania government that is now lost. The president is behaving like Trump and how he fired Comey of the FBI.
Conchis
24 May 2017
Luck have to count myself very lucky not to have bought this the other day. But suspect she will still bounce back one day soon.
one4all
24 May 2017
way overdone minisyr sacked, corruption buy
Redsdead
24 May 2017
So what am i missing ? I have seen the announcements and share price obviously but what I don't feel clear on is who benefitted - I assume the company has reported accurately what gold it sold at whatever price and cost - maybe I am wrong but if right then presumably this excess and undeclared gold has been sold to line someones pockets - it is Africa I suppose so should not be surprised and initial fingers seem to be pointing at the mines minister but how far does this go and is the company complicit ? Bottom line I see little upside and a lot of potential (and actual today) downside. Who knows how long this has being going on anyway ? I am out.
tornadotony
24 May 2017
From Bloomberg [link] is no longer an investment proposition by the looks of things. This looks like a massive fraud conducted by someone from somewhere.
tornadotony
24 May 2017
acacia accused of being naughty See RNS
tornadotony
02 May 2017
Comex Dumps Gold Down 500,000 ounces most after French R1 elections.
tornadotony
26 Apr 2017
Re: A Question There is no need to have a prescribed level of shares held by locals. Gold miner shares are volatile to hold so many folks own ETFs that combine a large number of different gold miner stock. I think it is far more important to have representation on the company board by someone well known to the Government who they trust. I believe one position is held by an ex ambassador or something like that on the Acacia board to give more transparency. If the Government did not want tax revenue and chose share payments instead, they could partially hold such shares in Treasury. Barrick Gold hold 62% or so of all stock and would off load at their market value. I conclude any forced arrangement of local ownership is probably not effective to maintain, risky for all parties and actually does not deliver the best immediate result for the Tanzanian people which capital gains tax and royalties deliver. Most years Acacia is a poor dividend paying stock.Tony
walterbloodaxe13
26 Apr 2017
Re: A Question Thanks for time taken to reply. What do you think about the decision to bring forward the need to have 30% of share owned by locals? Just looked like a strange coincidence. Also appreciate pointer towards £3.12 will watch events unfold.
tornadotony
26 Apr 2017
Re: A Question Acacia provides substantial income to Tanzania Government directly and through its workforce paying taxes along with social investments in the community. The President is not trying to devalue the stock deliberately but believes a smelting plant yields an extra 10% of gold or so from ore. The problem is the cost of smelting, the pollution it causes against the higher yield from mining. China has of late put up smelting costs which encourages the leader in his arguments. However the true profit is very marginal and so a business perspectives sees little return versus risk.As for the value of Acacia, I will stay with my previous figures of a floor around 312p providing gold stays above 1225 per ounce, the dollar USD holds its value and they can keep bulyanhulu in reasonable operation and find an alternative safe store for unprocessed ore. One arrangement is to allow ore exports with a guarantee by the industry to deliver a smelting plant by a specified date. The above is my opinion like anybody else who responds to your question.TT
walterbloodaxe13
21 Apr 2017
A Question Hi All,Don't own any ACA but am thinking about it. On the face of it looks like an attempt by the President to create a situation where the share price is pushed down. Then force a sale of 30% of the stock to local's (I wonder who has any money?, maybe the president and his friends). At the same time being able to claim he is doing something to help the locals, and at every stage extract a bribe for each step back to normality.Any thoughts on the above?At what price does this become a buy if the above is true?Responses welcome.
tornadotony
20 Apr 2017
Supports lines all breached With all the support lines giving way the Fibonacci lines now give 385p as likely strong possible support. There is a gap around the 370-375p that has to be back filled at some point. The real crisis is that Bulyanhulu mine may need to shut down once 100,000 ounces of gold are stored as ore effectively in the production circuit and this could happen in late May. The crisis for Acacia is possibly next month. Mara is not affected and Buzwagi is only partly affected. Tony
Johandesilva
20 Apr 2017
Re: First quarter results- Acacia trade valu... Do you think TAX going forward will cost around 6.78 British Pounds????Based on the last RNS that leaves a quarterly profit of about 14.3 British Pounds for a company valued at a staggering GBP1.7billion.In contrast Pan African Resources earns GBP7m after tax and is valued at 300m (after funding issue for new low cost production).I obviously know PAF better than ACA.
tornadotony
20 Apr 2017
First quarter results- Acacia trade value The first quarter results give a bottom range value of 312p up to 374p for a gold price average of 1225 per ounce. At 1280 if maintained through out the quarter gives 371p bottom price to 444p as top end value.
tornadotony
10 Apr 2017
Export ban re-iterated [link] ban absolutely sticks on ore and sand concentrated exports containing gold.
