Acacia likely to face 'large' cash sum to resolve Tanzania dispute - Broker Numis

R.B

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Oliver Haill Sharecast | 07 Jun, 2017 16:04 - Updated: 18:41 | | |





In order to resolve its dispute over gold-copper concentrate exports, Acacia Mining may have to pay a "potentially large" cash sum to the Tanzanian government, said broker Numis, but this makes shares a 'buy'.

After a conference call with management, Numis said it appeared likely that the report of the second committee set up by President John Magufuli, which is looking at historic economic and legal issues of concentrate exports, "will draw a similarly negative conclusion to the first report on the content of the concentrate".

The broker believes Tanzania is likely to demand for a "potentially large cash sum" and this could result in further short term share price volatility for the FTSE 250 company, which is 63.9%-owned by Toronto-based Barrick Gold.

With Acacia's and Barrick's management have chosen to remain in dialogue with the local government rather than to place pressure on the administration through placing the Bulyanhulu mine on care and maintenance, "the viability of this strategy is time limited even given the strength of the balance sheet" and the decision has "placed the burden of pain solely on the company's shareholders".

CEO Brad Gordon said it would cost $30m to shut down Bulyanhulu and $2-3m a month for care and maintenance charges.

Management have retained full year production guidance of 850koz-900koz and Numis expects a resolution so has retained its recommendation and target price of 500p, which is approximately equal to net asset value.
 

MsemajiUkweli

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Jul 5, 2012
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Kampuni ya tatu kubwa ya nchini Uingereza inayojishughulisha na share/stockbrokers katika FTSE 250, Numis Securities imesema kuna uwezekano mkubwa ACACIA wakalipa pesa nyingi kwa serikali ya Tanzania ili kumaliza mgogoro unaohusu mchanga (makanikia).

Baada ya Numis securities kufanya mawasiliano na uongozi wa Acacia imeonekana kuwa hata kamati ya pili iliyoundwa na Rais Magufuli italeta mapendekezo yenye hitimisho hasi kwa Acacia kama kamati ya kwanza ilivyofanya.

Kwa maelezo zaidi soma hii article;
In order to resolve its dispute over gold-copper concentrate exports, Acacia Mining may have to pay a "potentially large" cash sum to the Tanzanian government, said broker Numis, but this makes shares a 'buy'.

After a conference call with management, Numis said it appeared likely that the report of the second committee set up by President John Magufuli, which is looking at historic economic and legal issues of concentrate exports, "will draw a similarly negative conclusion to the first report on the content of the concentrate".

The broker believes Tanzania is likely to demand for a "potentially large cash sum" and this could result in further short term share price volatility for the FTSE 250 company, which is 63.9%-owned by Toronto-based Barrick Gold.

With Acacia's and Barrick's management have chosen to remain in dialogue with the local government rather than to place pressure on the administration through placing the Bulyanhulu mine on care and maintenance, "the viability of this strategy is time limited even given the strength of the balance sheet" and the decision has "placed the burden of pain solely on the company's shareholders".

CEO Brad Gordon said it would cost $30m to shut down Bulyanhulu and $2-3m a month for care and maintenance charges.

Management have retained full year production guidance of 850koz-900koz and Numis expects a resolution so has retained its recommendation and target price of 500p, which is approximately equal to net asset value.
Source: Sharecast news.
 

MsemajiUkweli

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Wapende wasipende, watanyooka tu.
Mbaya zaidi kwa Acacia, huyu ngosha akiamua suala lolote lazima alifikishe mwisho.

Ninachofahamu ni kuwa, mapendekezo ya tume ya pili yatawatikisa Acacia na yataleta mjadala mkubwa sana nchini na kwenye tasnia ya wawekezaji wa mafuta na madini.
 

Graph

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Jul 20, 2016
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Hili balaa hili, hii kampuni stocks zake zitakua kwenye hali mbaya balaa. Report ya pili ikija sawa na ya kwanza au hata slightly close jamaa wanaweza filisika kabisa.

Rais bana hapo ukimaliza rudi na kwa mining companies nyingine sio wanakaa kusema hawapati faida toka waje na bado wapo tu, wizi mtupu, hamna company inayoweza operate for more than a decade bila kufikia break even point alafu wakaendelea kukomaa.
 

MsemajiUkweli

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Jul 5, 2012
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Nonda

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Kampuni ya tatu kubwa ya nchini Uingereza inayojishughulisha na share/stockbrokers katika FTSE 250, Numis Securities imesema kuna uwezekano mkubwa ACACIA wakalipa pesa nyingi kwa serikali ya Tanzania ili kumaliza mgogoro unaohusu mchanga (makanikia).

Baada ya Numis securities kufanya mawasiliano na uongozi wa Acacia imeonekana kuwa hata kamati ya pili iliyoundwa na Rais Magufuli italeta mapendekezo yenye hitimisho hasi kwa Acacia kama kamati ya kwanza ilivyofanya.

Kwa maelezo zaidi soma hii article;


Source: Sharecast news.
"Samaki wa Magufuli" phase 2?

Link Mkapa signed bad mining deals, Magufuli wants to bury them, but legally he can’t
 

Al-Watan

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Apr 16, 2009
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Ripoti za kiserikali za Tanzania zina nguvu gani katika Mahakama za usuluhishi za Uingereza?

Mikataba inasema migogoro kati ya serikali ya Tanzania na Acacia isuluhishwe London.

Ripoti za kiserikali hazina independence kwa sababuni za upande wa serikali.

Acacia ikisema inataka kupeleka suala kwenye usuluhishi London serikali imejiandaa vipi?
 

MsemajiUkweli

JF-Expert Member
Jul 5, 2012
12,066
2,000
Ripoti za kiserikali za Tanzania zina nguvu gani katika Mahakama za usuluhishi za Uingereza?

Mikataba inasema migogoro kati ya serikali ya Tanzania na Acacia isuluhishwe London.

Ripoti za kiserikali hazina independence kwa sababuni za upande wa serikali.

Acacia ikisema inataka kupeleka suala kwenye usuluhishi London serikali imejiandaa vipi?
Majibu ya hoja zako yatatolewa na tume ya pili ambayo inaangalia kwa undani na kutoa ushauri sahihi kwa serikali katika masuala ya kisheria na kiuchumi.
 

osama BLD

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Oct 4, 2016
565
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Polepole tutafika!

You can cheat all the people some of the time, and some of the people all the time, but you cannot cheat all the people all the time!
Mkuu;;;,Bob marley said, you can fool/cheat people but not all people all the time .
 

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