dog-with-fleas
06 Mar 2017
Re: short closed, thank you very much I work with these ministries, the worry is matters like this are not resolved quickly so SP could go below as Tony predicts. Heart goes out to LTH's. It will recover but not soon IMVHO once clarification is sought. Retrace should be rapid though. Good luck.
tornadotony
06 Mar 2017
Re: short closed, thank you very much Likely to get another chance as a gap exists in the 373 area and 344 area as well. If Tanzania government does not back down this is heading towards 290p at 1230 gold price.
one4all
06 Mar 2017
short closed, thank you very much ..
tornadotony
05 Mar 2017
An error in previous note $60M $60M instead of $600M apologies for big mistake and it would be just one single plant and not 4. Misread how much ore they could get through per year.
tornadotony
05 Mar 2017
Smelters and why it makes no sense It is likely that 4 smelter plants would need to built at a probable cost of around $600m imop. The likely pay back is 9% cost substitution from what was exported to be processed by internal plants. However all the power requirements from the grid, infrastructure and prevention of pollution reduce these benefits substantially. It may create jobs but other projects may fair better on overall returns. Canada and South Africa as well as China do a lot of the smeltering and hence why material gets sent there. I would say the overall marginal improvement is incremental and probably around 3% overall. It is possibly better for Tanzania to build up their hotel and tourist industry, keep zika and malaria out of the way and create far more than jobs than a glorified polluting and stinking smelter plants process centre and being a total eyesore over a beautiful landscape with a stench you could smell miles away.Perhaps an alternative approach instead of an MOU is to demonstrate why this is a pointless thing to do and that step changes elsewhere are better than an incremental policy that offers lots of risk for marginal benefit. Acacia tcould sponsor an independent policy unit or courses for public servants to learn modelling and unintended outcomes. They could also create a university innovation programme to create future jobs with joint funding with local SMEs in materials science. These type of things give real step changes and create cleaner industries and better paid jobs.
tornadotony
05 Mar 2017
Tanzania news agency [link] mine not affected too badly by the ban but around 50% of production at Buzwagi and Bulyanhulu will have to be suspended. Acacia to consider closing both mines until issue resolved. Acacia vice president seeking urgent meeting. It makes little sense to create a fuss over building a smelter asap and having both mines closed in the meantime and lose tax income. They should instead agree and MOU a memorandum of understanding where a smelter eventually gets built in the country. It only takes a day or two to agree an MOU and have a programme devised to get what both parties can agree to. I will check out how much it costs to build.
dog-with-fleas
04 Mar 2017
Re: This is Africa EXPORT BAN OF METALLIC MINERAL CONCENTRATES AND OREThe Ministry of Energy and Minerals would like to inform the public, companies and individuals involved in minerals extraction that export of mineral concentrates and ores for metallic minerals such as gold, copper, nickel and silver has been banned with effect from 2nd March, 2017. The ban intends to make sure that mineral value addition activities are carried out within Tanzania as emphasized in the Mineral Policy of 2009 and Mining Act of 2010. Mineral value addition activities will provide employment opportunities, revenues and technology transfer, hence more benefits to the nation.Therefore, it is expected that all the companies and individuals who were exporting concentrates and mineral ores to foreign countries for beneficiation (processing, smelting or refining) will immediately stop and start doing such activities within the country. The Government will provide any necessary support to stakeholders involved in mineral beneficiation activities within the country, particularly smelting and refining of minerals.Issued byPERMANENT SECRETARYMINISTRY OF ENERGY AND MINERALSMarch 03, 2017
dog-with-fleas
03 Mar 2017
This is Africa Africa and its culture will always be gnawing concern if held as a long term investment. Africa is an unpredictable and frustrating region to do business. Decisions like this are driven by blatant corruption that defy common sense. I cannot see this situation being resolved overnight as the President will not want to lose face so any change will be a drawn out process. Worrying times but should create a buying opportunity.
one4all
03 Mar 2017
nah, some big ii will dump watch this drop next week
IndyInv
03 Mar 2017
Re: 480 aligns with other gold miners I sold all positions couple of days ago at 541.....feeling lucky.But I will be buying again once dust settles. It closed gap today at 464-484p
tornadotony
03 Mar 2017
480 aligns with other gold miners A correction to the current 480 realigns Acacia with all the other gold miners. Nothing published so far regarding clarification but some common sense is likely to arrive as Acacia pays out a lot of tax. I still believe any merger is now pie in the sky. Deals with Kenya would work with a neighbouring country. Not holding Acacia at this time but would have had a heart attack if I did.
one4all
03 Mar 2017
close at 450 me thinks short at 481
one4all
03 Mar 2017
back to 480!! Im a sleer at that price SELL
one4all
03 Mar 2017
throw yer money into PREM awesome week ahead
one4all
03 Mar 2017
they could just change to selling it in DORE form panic over then
