tornadotony
26 May 2017
Jeffries broker assessment I bought around 277 and believed it was a buy but then sold at 289 when the Jeffries report came out. Anybody getting into Acacia has a good reason to be nervous and being careful how they build a position in the current circumstances and reading what is put out from good sources. The response from Acacia clearly identifies how they must comply with multiple sources of audit in a host of different countries that are independent verification sources. These arrangements are long standing. What is also clear is that the claims made against the company have not offered a single independent verification source of their own that stands up to any scrutiny. The Jefferies note suggests that this argument may take some time to resolve and that quite possibly the best thing for Acacia to do is run with just the Mara mine until the issues are eventually resolved. Mara is not affected by the ban and yields around 82,000 gold ounces on an average quarter. Q1 was over 96,000 ounces due to higher head grade then expected. If we take the average we know Acacia can run on the Mara mine alone with a 320,000 ounce annual production run. The profit level at 9 PE rate would give us the Jefferies 235p at an average gold price of 1250 per annum. This is perhaps a useful entry point if Acacia chooses to follow the strategy suggested by Jefferies. Tony
Redsdead
26 May 2017
Re: RNS Response Sorry guys my post was directed at tornado tony who seems to have a lot to say on this stock - especially without a position
shugg1e
26 May 2017
Re: RNS Response No at all its just because hes taken a long position you see our friend Tony's posts are guided to whatever position he holds
shugg1e
26 May 2017
Re: RNS Response No at all its just because hes taken a long position younsee our friend Tony's posts are guided tomwharptever position he holds
Redsdead
26 May 2017
Re: RNS Response Quite a change of view from your post a few days ago - is that based just on the most recent press release from the company ?
tornadotony
26 May 2017
Re: RNS Response Brilliant response. Bought some shares as a result. Company is completely innocent.
Irishpants
26 May 2017
RNS Response Interesting line from Acacia in latest RNS response"If the Committee's published findings were based on accurate data, Bulyanhulu and Buzwagi would be the world's two largest gold producers."The Committee are either incompetent or corrupt
onedb1
25 May 2017
Re: From Bloomberg Anyone who was long though was going against Trend . In my view the position was always to stay short certainly not long here From my experience 2 things are to be learnt from a chart like Acacia A) it was clear that the stock was showing lower highs . Ie not trending up price wise but down. So weakening . B) Once the 200 day SMA turned down , that was your last call to get out . Not so much the price cross. On a side note the 50 SMA provides more whips saws but it was clear that for ages it was not in good form For what its worth , as I hardly ever post a short position given the resentment one gets on BBs , but IMO going against Trend is only a skill a few have . Pro traders do what the market tells them not the other way . I haven't read the narrative of the news . Never do initially. I do though follow fundamentals not just technicals. Acacia was one of my secret shorts .
shugg1e
25 May 2017
Re: ACA v Tanzania? Shanta gold is in Tanzania and a much safer play IMHO
dog-with-fleas
25 May 2017
Re: ACA v Tanzania? It all highlights the dangers of having legitimate business concerns in 3rd World African countries where corruption is rife.You'd be better off doing a bet365 football accy than sticking money into what is increasingly looking like a dog. If corruption is taking place it is unlikely that the no1 is not involved. As is normal in these regimes, the No1 will have an appointed 'king-maker' who will be orchestrating the theft of the gold or the demise of the share price. The No1 has to appear to be detached from any corruption. The president is now on a hatrick of excuses to destroy ACA - hatricks are normally a sign of an ulterior motive. It is all very short termism as which other major company would want to set up in this part of the world. One thing is for sure, when the President of Tanzania comes to London once retired he will not be shopping at Aldi or staying in airbnb. Hope all PI are out!!
jd1980
25 May 2017
ACA v Tanzania? As a watcher of various gold Co's but not ACATo me it seems if I jump in now at a great long term price 270ish it could go either of 2 ways1. All is resolved ( nice little bribe to family members etc) possible uplift 50% back to 410 2. Drags on and relationships breakdown completely eventual government takeover / Company collapse share price effective zero Fighting governments is a dangerous game not many winners and usually only the very largest miners do 'OK'My friends I'm staying out and watching and thanking that for once, I've not got to worry about this one.Good luck to all
tornadotony
25 May 2017
Tanzania news article [link] staff sacked after providing answers that accord with Acacia and other gold miner figures. Acacia denied visibility of the report thus far.
tornadotony
24 May 2017
Re: way overdone minisyr sacked, corrupt... So you are encouraging others to buy this share after the President has alleged that Acacia were transporting 546,750 ounces of gold out of the country when they say it was it was around 36,500 ounces. The company want a 3% royalty payment on the 546,750 ounces and they want a retrospective audit to go back 19 years. They also want to levy tax on the sands in those containers. The Royalty cost is 19M and the tax bill they are demanding is $200M or so. The number of containers loads per year is probably around 6 or 7. So on an annualised basis they want to surcharge the company around $1.5B and then want to go back on further years. If they just go back 4 years Acacia has no value at all. In addition the President is demanding over 30% of the share be in Tanzanian citizen ownership by 23 august. The best way the Government can achieve this is to make the stock absolutely worthless so that it can be bought at rock bottom prices.Anybody buying into this has a chance of a bounce up but the company is in a world of trouble. The CEO and his team are being tested. They have to show their honesty and integrity first before folks risk holding anything here. Even then what is to stop the Tanzanian President showing up with troops and just seizing the mines if the accusations today are made up. Tony(No position on Acacia)
shugg1e
24 May 2017
Re: way overdone minisyr sacked, corruption buy???have you read the RNS why do you rate this a buy?
shugg1e
24 May 2017
Re: From Bloomberg agreed this kind of scandal can kill a stocks value could see new lows before the dust settles
