Edition:
United States

Acacia Mining PLC (ACAA.L)

ACAA.L on London Stock Exchange

201.00GBp
22 Nov 2017
Change (% chg)

19.00 (+10.44%)
Prev Close
182.00
Open
180.40
Day's High
203.20
Day's Low
180.40
Volume
2,452,927
Avg. Vol
2,076,615
52-wk High
545.50
52-wk Low
152.67

Latest Key Developments (Source: Significant Developments)

Acacia Mining appoints Peter Geleta as interim CEO
Thursday, 2 Nov 2017 03:00am EDT 

Nov 2 (Reuters) - Acacia Mining Plc :‍MANAGEMENT CHANGES​.ANNOUNCE APPOINTMENT OF PETER GELETA, CURRENTLY ACACIA'S HEAD OF ORGANISATIONAL EFFECTIVENESS, AS INTERIM CHIEF EXECUTIVE OFFICER​.‍JACO MARITZ, CURRENTLY ACACIA'S GENERAL MANAGER, FINANCE, WILL BE APPOINTED CHIEF FINANCIAL OFFICER​.‍BOTH APPOINTMENTS WILL BE EFFECTIVE FROM 1 JANUARY 2018​.‍BRAD GORDON, CEO, AND ANDREW WRAY, CFO, HAVE SEPARATELY NOTIFIED COMPANY OF THEIR INTENTION TO RESIGN FROM THEIR POSITIONS​.‍BRAD AND ANDREW WILL REMAIN WITH COMPANY UNTIL END OF YEAR​.  Full Article

Acacia Mining says not to make any changes to $128 mln provision ‍​
Thursday, 26 Oct 2017 03:01am EDT 

Oct 26 (Reuters) - ACACIA MINING PLC ::DOES NOT INTEND TO MAKE ANY CHANGES TO ITS OWN $128 MILLION PROVISION DUE TO BARRICK’S ANNOUNCEMENT OF AN AGREEMENT OF A PROPOSED FRAMEWORK.ALSO BE ABLE TO ASSESS POTENTIAL IMPACT ON ACACIA'S HISTORICAL UNCERTAIN TAX POSITIONS‍​.  Full Article

Barrick Gold reports Q3 loss per share $0.01
Wednesday, 25 Oct 2017 05:05pm EDT 

Oct 25 (Reuters) - Barrick Gold Corp :Barrick reports third quarter 2017 results.Q3 adjusted earnings per share $0.16.Q3 loss per share $0.01.Q3 revenue $1.993 billion.Barrick Gold Corp - ‍narrowed full-year gold production guidance to 5.3-5.5 million ounces​.Barrick Gold Corp - ‍reduced total debt by nearly $1.5 billion year to date, exceeding target for 2017​.Barrick Gold Corp - qtrly copper production ‍115​ million pounds versus 100 million pounds.Barrick Gold Corp sees ‍full-year all-in sustaining costs of $740-$770 per ounce of gold​.Barrick Gold Corp - produced 1.243 million ounces of gold in q3 compared to 1.381 million ounces in prior-year period​.Barrick Gold Corp - qtrly copper all-in sustaining costs $‍2.24​ per pound versus $2.02 per pound.Barrick Gold Corp - ‍all-in sustaining costs for gold in Q3 were $772 per ounce, compared to $704 per ounce in Q3 of 2016​.Barrick Gold Corp - ‍full-year copper production guidance range has narrowed to 420-440 million pounds​.Barrick Gold Corp - ‍copper all-in sustaining cost guidance range has narrowed to $2.20-$2.40 per pound for fy​.Barrick Gold Corp - ‍net earnings in quarter impacted by tax provision of $172 million related to proposed framework for acacia's operations in Tanzania ​.Barrick Gold Corp - decrease in net earnings in quarter reflects lower gold production, lower gold prices, impact of tanzania's concentrate export ban on acacia.Barrick Gold Corp - ‍"goal is to reduce our total debt to $5 billion by end of 2018"​.  Full Article

Acacia sees lower FY production of 750,000 ounces
Friday, 20 Oct 2017 02:19am EDT 

Oct 20 (Reuters) - Acacia Mining Plc :ACACIA MINING PLC - Q3 ‍GOLD PRODUCTION OF 191,203 OUNCES, 7% LOWER THAN Q3 2016​.ACACIA MINING PLC - ‍Q3 GOLD SALES OF 132,787 OUNCES VERSUS 206,488 OUNCES IN Q3 2016​.ACACIA MINING PLC - ‍Q3 AISC OF US$939 PER OUNCE SOLD, 6% BELOW Q3 2016​.ACACIA MINING PLC - ‍Q3 CASH COSTS OF US$616 PER OUNCE SOLD, 3% HIGHER THAN Q3 2016​.ACACIA MINING PLC - ‍Q3 REVENUE OF US$171 MILLION, 40% LOWER THAN Q3 2016​.ACACIA MINING PLC - ‍Q3 EBITDA OF US$50 MILLION, 60% LOWER THAN Q3 201​6.ACACIA MINING PLC - ‍CASH ON HAND OF US$95 MILLION AS OF 30 SEPTEMBER WITH NET CASH OF US$24 MILLION​.ACACIA MINING PLC - "‍IN Q3 OF 2017, ACACIA PAID A TOTAL OF US$35 MILLION OF TAXES AND ROYALTIES TO TANZANIAN REVENUE AUTHORITY​".ACACIA MINING PLC - SEES FY PRODUCTION OF 750,000 OUNCES, 100,000 OUNCES LOWER THAN BOTTOM OF PREVIOUS GUIDANCE RANGE OF 850,000-900,000 OUNCES​.ACACIA MINING PLC - ‍PREVIOUS FY AISC GUIDANCE OF BETWEEN US$880-920 PER OUNCE SOLD REMAINS UNCHANGED​.  Full Article

Acacia says any proposal between Barrick, Tanzania would need co's approval
Friday, 20 Oct 2017 02:00am EDT 

Oct 20 (Reuters) - Acacia Mining Plc ::ACACIA MINING - CONTINUES TO SEEK FURTHER CLARIFICATION ON TANZANIA DISCUSSIONS AND AS YET NO FORMAL PROPOSAL HAS BEEN PUT TO ACACIA FOR CONSIDERATION​.‍ANY PROPOSAL AGREED IN PRINCIPLE BETWEEN BARRICK AND GOVERNMENT WILL REQUIRE ACACIA'S APPROVAL​.‍ACACIA WILL CONSIDER ANY AGREEMENT ON TANZANIA ISSUE ONCE IT RECEIVES FULL DETAILS​.  Full Article

Acacia Mining ‍updates on discussions in Tanzania
Thursday, 19 Oct 2017 10:51am EDT 

Oct 19 (Reuters) - Acacia Mining Plc ::‍UPDATE ON DISCUSSIONS IN TANZANIA.‍ACACIA NOTES THAT GOVERNMENT OF TANZANIA (GOT) AND BARRICK GOLD CORP HOSTED A PRESS CONFERENCE IN TANZANIA TODAY TO PROVIDE AN UPDATE ON ONGOING DISCUSSIONS​​‍.NO FORMAL PROPOSAL HAS BEEN PUT TO ACACIA FOR CONSIDERATION AT THIS POINT IN TIME.‍ACACIA HAS JUST RECEIVED A COPY OF FRAMEWORK AGREEMENT REFERRED TO IN BARRICK'S RELEASE AND IS SEEKING FURTHER CLARIFICATION​.  Full Article

Acacia says believes can return to positive cash generation in 2018
Monday, 4 Sep 2017 02:00am EDT 

Sept 4 (Reuters) - Acacia Mining Plc ::INTENTION TO REDUCE OPERATIONAL ACTIVITY AT BULYANHULU.DECISION DRIVEN BY UNSUSTAINABLE CASH OUTFLOWS AT MINE DUE TO CONCENTRATE BAN AND OPERATING ENVIRONMENT.DUE TO THIS CHANGE, ACACIA BELIEVES GROUP CAN RETURN TO POSITIVE CASH GENERATION IN 2018.TALKS BETWEEN BARRICK GOLD CORPORATION ("BARRICK") AND TANZANIAN GOVERNMENT ON-GOING.  Full Article

Acacia says senior international employee of unit was detained
Friday, 28 Jul 2017 08:07am EDT 

July 28 (Reuters) - Acacia Mining Plc ::SENIOR INTERNATIONAL EMPLOYEE OF WHOLLY OWNED SUBSIDIARY PANGEA MINERALS LIMITED WAS PREVENTED FROM LEAVING TANZANIA THIS MORNING.PASSPORT WAS SEIZED AND HE WAS DETAINED AT DAR-ES-SALAAM AIRPORT FOR A PERIOD OF TIME.FOLLOWING LEGAL INTERVENTION, HE WAS RELEASED AND HIS PASSPORT HAS BEEN RETURNED.INCIDENT FOLLOWS ON FROM INCREASED LEVELS OF PRESSURE FROM GOVERNMENT AGENCIES ON ACACIA EMPLOYEES IN PAST 48 HOURS.WORKING WITH OUR LEGAL ADVISERS AND RELEVANT AUTHORITIES TO SUPPORT OUR PEOPLE.  Full Article

Barrick Q2 adjusted earnings per share $0.22
Wednesday, 26 Jul 2017 05:02pm EDT 

July 26 (Reuters) - Barrick Gold Corp ::Barrick reports second quarter 2017 results.Q2 adjusted earnings per share $0.22.Q2 earnings per share $0.93.Q2 revenue $2.16 billion.Barrick gold corp - ‍total debt was reduced by $309 million in q2​.Q2 earnings per share view $0.18, revenue view $2.03 billion -- Thomson Reuters I/B/E/S.Barrick Gold Corp - ‍barrick will begin discussions with government of tanzania next week concerning concentrate export ban​.Barrick Gold Corp says produced 1.432 million ounces of gold in q2 at a cost of sales of $726 per ounce.Barrick Gold Corp says ‍expect higher cash flow in second half of year​.Barrick Gold Corp qtrly revenue $2,160‍​ million versus $ 2,012 million.Barrick gold corp - qtrly copper production 104‍​ million pounds versus 103 million pounds.Barrick gold corp - ‍continue to expect full-year gold production of 5.3-5.6 million ounces​.Barrick gold corp says based on sales mix and current expectations for timing of capital expenditures, expect costs to be higher in q3.Barrick gold corp - qtrly all-in sustaining costs for copper $2.38 ‍​ per pound versus $2.14 per pound.Barrick gold - ‍full-year gold production expectation at a cost of sales of $780-$820 per ounce, and all-in sustaining costs of $720-$770 per ounce​.Barrick gold -continue to expect fy production at veladero of 630,000-730,000 ounces of gold, at cost of sales of $740-$790 per ounce.  Full Article

Acacia Mining says H1 gold production 4 pct higher last year
Friday, 21 Jul 2017 02:00am EDT 

July 21 (Reuters) - Acacia Mining Plc ::H1 gold production of 428,203 ounces, 4 pct higher than H1 2016, with gold sales of 312,438 ounces.H1 EBITDA of $161.4 million, 13 pct down from H1 2016.H1 AISC of $893 per ounce sold, 5 pct below H1 2016.H1 revenue of $391.7 million, 22 pct lower than H1 2016.H1 net earnings of $62.5 million, equating to 15.3 cents per share."First half has posed significant challenges to our operations in Tanzania following introduction of concentrate export ban in march".In light of developments in Tanzania, continue to assess capex; expect to be between $180-200 million for year.As result of impact of Tanzania concentrate export ban, now targeting lower end of production guidance range of 850-900,000 ounces for 2017.  Full Article

UPDATE 2-Top Acacia Mining bosses quit in midst of Tanzania dispute

* Shares drop on news (Updates with detail, graphic, analysts, shares)