tornadotony
10 Apr 2017
Gold refinery plant tanzania press [link] Mwanda.
tornadotony
09 Apr 2017
Gold eagle sales first quarter Sales of gold eagle coins were down 32% from those sold in Q1 last year. March sales of gold eagles were just 21,000 ounces out of 166,000 sold during the quarter. Interest in buying coins and bars is nearing melt price values. I wonder who is the buyer for the gold miners ounces as they deliver to the physical market. The retail market is on life support with very limited demand at the current dollar denominated gold price. The current gold rally is completely divorced from the physical market and this is really bad for gold miners across the board. 2017 is not following 2016 at all in this regard.
shugg1e
05 Apr 2017
Re: Gold support line breach Gold is fine tony
tornadotony
05 Apr 2017
Gold support line breach Second support on gold is around 1241-1242 area. If this does not hold, gold miners are in big trouble.
tornadotony
28 Mar 2017
Ore issue The whole enterprise of smelting has a net value of just 1% after all costs which include environmental safety issues. If a country like Tanzania valued its tourist industry and wild life it would try and develop this area further which is far more profitable with spin off services and industries that give additionality and real economic growth. The quick answer of course is to have an export ore tax that is equal to $12 per ounce of gold and its paid retrospectively after processing. It would be worth paying $3.6M dollars a year to have an exemption licence and be done with it. The payback on building a smelter takes 20 years and is a pollution risk and quite an awful job for people to go and do. The business case on earnings growth is simply not there. The Professor being dismissed is likely a loss of material wisdom. To get things done requires working and motivating the best out of others through their free will. A dictatorship approach leads to bankruptcy and usually economic ruin. Soon everyone in Tanzania will do nothing for the President but await his orders and carry them out as inefficiently as possible. In the meantime this is very troublesome for Acacia. The stock has to re-rate to 15PE while this messy issue is going on. TT
jergen
27 Mar 2017
Magufuli rules 27.03.2017 -- President John Magufuli yesterday sacked the Energy and Minerals Permanent Secretary, Prof Justin Ntalikwa.The State House statement gave no reason for Prof Ntalikwa’s removal, but sources in the ministry said it was likely his sacking was linked to his remarks about the cost of establishing a facility for processing gold and copper concentrates, which were in conflict with President Magufuli’s publicly stated reasons for banning the export of the compounds.Prof Ntalikwa told Mr Ndugai and his team that it was too expensive to establish a processing plant, adding that it could take time before the country was ready to process concentrates locally.Mr Ndugai announced the formation of a parliamentary team that would seek to establish how Tanzania could benefit more from its mineral wealth.[link]
tornadotony
27 Mar 2017
Smelting costs [link] on earth would a government really wish to take this on.
tornadotony
24 Mar 2017
Viewing as a TAZ Minister From the Tanzanian Government perspective they see gold mine shares of Acacia going up. If it was going down the proverbial swanee, they might believe what the company was saying. As the share price holds up, I can not see any reason why they would be in a hurry. After all Acacia were quite happy to spend a few hundred million merging with another company only a week ago. (Something a TAZ minister would not have been keen on.)No quick outcome happening here. Roll on to May. Taz government likely to let the market find the solution.
tornadotony
24 Mar 2017
RNS Huge losses mounting They would possibly need a specialist smelter to deal with the ore. Tanzania Government retains ban. Company will need to change operations from end of April to limit losses. The value of the company needs to go back to 600,000 ounces per year at $1050 AISC per ounce. It is back to $120M profit year company at best which equates to around 432p top end at 1250 gold price.
tornadotony
22 Mar 2017
Waiting fo 365p This share has a long way down to go. Risk versus reward needs to be rebalanced and a PE adjustment required.
tornadotony
21 Mar 2017
Endeavour end merger talks They just announced it. The reason was due to the Tanzanian government banning the ore exports.
shugg1e
12 Mar 2017
Bear flag Looks like a bear flag to me dont get sucked in
RichardLY
12 Mar 2017
Merger is Off? Anything definitive?Anyone an idea when some 'clarification' will actually be provided by the company i.e. from the Ministry?
tornadotony
08 Mar 2017
Bottom formation developing The RSI (10) has recovered from 14 to around 22. Likely to put in a double bottom and stabilise. Stock is a buy at 410-414 range or below imop. Recovering today implies or suggests that smeltering plant deal getting resolved in the background otherwise it would have crashed by now. Top end is around 480 until they put something into public domain.(I hold no position on Acacia)
shugg1e
06 Mar 2017
Re: short closed, thank you very much Gold price falling as well now and guesses where they will be at $1180 gold?I think its going to settle between 300-340p if it drags out Dont think it will go much below that so about 20% downside now
