shugg1e
12 Jun 2017
Re: Oh dear yep looks like another petrofac hit by a scandel excellent opportunity will present itself when these get hammered under 200pbought into petrofac this morning after being hammered down from 900p to 350psell this and wait for the panic washoutTony your 165p looks fair
Conchis
12 Jun 2017
underperform You are looking at least 6 months in the doldrums before a strong recovery when gold price increases.
tornadotony
12 Jun 2017
RNS from company above Heart goes out to all Acacia staff. A total stitch up.
tornadotony
12 Jun 2017
Bulyanhulu likely to close Jefferies earlier assessment is looking spot on. They provided a target of 265p so it may settle in the 258-265 trading range at 1270 gold price.
appamama
12 Jun 2017
Re: It really is bad and now out there Business is what it is. It is quite likely that Acacia have under-reported their production, or the value of the ore transported out of the country, or the taxable income, or whatever. The President of the country is trying to get a grip on the situation. That is a good development, too. The gold is there to be mined and it will continue to be mined. The two parties - the business and the rulers of the place will eventually come to an agreement about sharing the bounty. Unless the President wants to run the company down, grab its assets, and sell them to some other entity - an activity that big banks (sometimes) or vulture funds typically do, not responsible politicians - there is no reason to panic.My sense is both Gold, as a store of value, and Tanzania, as a country that is on a path of accelerating progress, will do well in near and medium term. Whether that will translate into a good SP for Acacia remains to be seen.
tornadotony
12 Jun 2017
It really is bad and now out there I do not believe it for a second that they would steal from Tanzania. Sadly it does not help investing in the company with a government wanting to destroy any value in owning any part of it. Science is misused or ignored and that questions any investment at all in Tanzania.
tornadotony
12 Jun 2017
Re: No view Fair enough the share cast note was a tweet from the meeting. Lets see what Acacia says. I hold no position on Acacia so not playing any book.
appamama
12 Jun 2017
No view Is it a sale just because the report is awaited? What if the report is good? Why would anyone want to second guess the report? Why would one want to sell a Gold producer that has some cash and is producing gold at the moment when Gold price is likely to go up in due course?Similarly, why would one rush to buy when the president of Tanzania has found something fishy in the reporting of company data?The only sensible thing to do is to wait for the report to become public, in English.
tornadotony
12 Jun 2017
Here it is from Oliver Hall Tanzania accuses Acacia Mining of 'mining illegally', not declaring gold exportsOliver HaillDate: Monday 12 Jun 2017LONDON (ShareCast) - (ShareCast News) - Acacia Mining was sent reeling on Monday morning as the Tanzanian government again accused the miner of understating its level of exports and also alleged the company of mining outside the country's laws.A report following Tanzania's second presidential investigation into the disputed gold-copper concentrate exports of the London-listed mining company accused the company of mining outside proper Tanzanian law and said mining companies have been evading taxes and understating exports.The local Swahili Times live-tweeted from the public reading of the report that Acacia had been accused "mining illegally" and that the owners of the mining companies in the country "have committed various crimes".Tanzania's President John Magufuli commissioned a second presidential committee to look into the "economic and legal aspects of historic exports of metallic mineral concentrates" after an initial committee accused Acacia of under-reporting the amount of gold concentrate for export by a factor of 10.On Monday the committee said a large number of containers were shipped from Tanzania between 1998 and 2017 without being listed and so calculated that it had lost on huge amount of tax in this period.Acacia, which saw cash in the bank slip to $165m at the end of May from $196m at the end of the first quarter, has provided extensive information to this second committee and provided access to each of its mine sites."Acacia refutes the findings of the first committee and believes they contain significant discrepancies compared to the more than 20 years of data available to Acacia," the FTSE 250 company said before the report was read on Monday."We have requested, but not yet received a full copy of the committee's report, and an independent review of the results."Some analysts believe Acaica will have to pay a large sum to resolve the dispute, while other think the Tanzanian government's demand may be more complicated.
tornadotony
12 Jun 2017
Proper news awaited Blackrock dumped 4.5M Acacia shares on Friday and 0.6% shares have gone on short interest. Still waiting for the official news on 2nd committee findings this morning. Holders might get lucky but scary to be on this one and hence why I think it could be a sell. Only for the really brave/or stupid to be holding here.
appamama
12 Jun 2017
Re: Oh dear Do you understand Swahili? Have you seen what the second presidential committee reported? The sell rating stinks because the report is being released at the moment. I have no idea if this share is a buy or not, but just to neutralise that sell rating, I have rated it as a strong buy.Own due diligence.
tornadotony
12 Jun 2017
Oh dear Another disaster on its way here. No joy for Acacia. 165p on its way.
Conchis
02 Jun 2017
200 week SMA The share plummets to just below the 200 week SMA; after such a loss of confidence feel that it must go a bit lower still - before bouncing back up when the wind changes direction!
tornadotony
02 Jun 2017
Bulyanhulu mine now closed Doing what Jefferies suggested and under the circumstances the best thing to do. Buzwagi still open and Mara unaffected. Daily losses are at least halved. Stock price could now stabilise per share in the 240-270 range if gold stays 1235-1260. Current price is running higher as annual production guidance unchanged thus far.
tornadotony
26 May 2017
Jeffries target is 265p Apologies for the typo of 235p in previous.
