Acacia Mining plc (formerly African Barrick Gold plc) is Tanzania's largest gold producer and one of the five largest gold producers in Africa. It has four mines, all located in Northwest Tanzania, and several exploration projects at various stages of development in Tanzania and Kenya. It has a high-quality asset base, solid growth opportunities and a clear strategy of: * driving operating efficiencies to optimise production from our existing asset base; * growing through near mine expansion and development of advanced-stage projects; and * organic greenfield growth and acquisitions in Africa.

Links...
Company Web Sitehttp://www.acaciamining.com/

Company Calendar http://www.acaciamining.com/investors/financial-calendar.aspx

Former Thread as African Barrick Gold http://www.moneyam.com/InvestorsRoom/posts.php?tid=14880#lastread thanks to Harry for giving go ahead to swap to new name.

CHARLES STANLEY BROKERS

Commodities

Gold (1279.81) – the surge in the gold price continues, aided by the Swiss currency move
(the Swiss are widely seen as buyers of the precious metal) and by its safe-haven
characteristics. Last week’s 4.66% advance is notable for the fact that it resulted in a clear
move above the long-term downtrend and the extent of the break has changed the basis
somewhat, to the extent that further strength now appears to be a realistic expectation
(notwithstanding the fact that the price has become somewhat overbought of late). The next
upside target is last August’s intermediate high, at $1313 or so.

19 Jan 2015 Acacia Mining Plc... ACA Numis Buy 299.20 301.00 - 340.00 Reiterates

SP TARGET 340p

19 Jan 2015 Acacia Mining Plc... ACA Barclays Capital Overweight 299.20 301.00 - - Reiterates

Loads errrrrrr money doodlemug.

ACA UPGRADE..........

22 Jan 2015 Acacia Mining Plc... ACA Investec Buy 315.95 313.50 170.00 342.00 Upgrades

SP TARGET 342p.

23 Jan 2015 Acacia Mining Plc... ACA JP Morgan Cazenove Overweight 308.25 310.00 360.00 360.00 Reiterates

SP TARGET 360p

I know your in this one cynic and gf is ramping it over the road. He may have a point, noticed this is the third time rallied off RSI figure so worth a punt Long on the spreads @ 318p tight stop 308p.

Forgot to mention 25DMA bounce. Fingers crossed.

hi chris ..... i do indeed hold (in sipp), though i'm afraid i bought too early in the very recent cycle
however, i think the markets are in for a torrid time - and yes, i have been saying this for far too long - so precious metals should come back into their own

Let's hope so, never traded these before. Just need some volume, chart looks good.

LATEST BROKER VIEWS

Date Broker New target Recomm.
6 May Deutsche Bank N/A Buy
5 May Barclays... 340.00 Equal weight
25 Apr Numis 400.00 Add

Stop to entry for risk free trade.

19:03 yesterday (friday)
Acacia Mining Plc said on Friday it was in early talks about a possible merger with Canadian gold miner Endeavour Mining Corp .

Acacia, which operates mines and exploration projects in Tanzania, Kenya, Burkina Faso and Mali, was responding to media reports. ...
The company added that there was no certainty of a deal.

Endeavour also confirmed preliminary discussions had taken place with Acacia. ...

Acacia had a market value of 1.72 billion pounds ($2.10 billion) as of Jan. 12, while Endeavour had a market value of C$ 2.18 billion ($1.66 billion).

Endeavour bought True Gold Mining Inc for about C$240 million in March, giving it access to a low-cost gold mine in Burkina Faso. ...

======================

which is the target?

All very strange indeed .... no wonder sp collapsed



Response to the Ministry of Energy and Minerals press release regarding the
export of metallic mineral concentrates

Acacia notes today’s press release from the Ministry of Energy and Minerals
regarding a ban on exports of gold/copper concentrate following a directive
made by the President of the United Republic of Tanzania. In 2016, gold/copper
concentrate amounted to approximately 30% of group revenues. At this stage,
Acacia has ceased exports of gold/copper concentrate and is urgently seeking
further clarification from the Ministry of Energy and Minerals. We will
provide further updates as appropriate.

this stock continues to be hammered due to the Tanzanian sudden embargo on exporting gold and iron ore, and the potential merger with Endeavour Mining which must also be delayed or even at risk

nevertheless, at some point (no ideas where) the shares will start to be serious value, though of course there will need to be some reflection of the underlying bullion price and it's immediate prospects

the 5-year chart below indicates that sp could fall another 100p before it hits real support
however, i recollect that when sp started to rise sharply, it was following the announcement of the discovery of further large reserves, or somesuch ..... i'm too lazy and busy to check that at the moment

Looking through the Reuters press releases over the last six months, Tanzania seems to be in economic turmoil and finding it very hard to stamp out corruption and tax evasion. I think that things are going to get worse before they get better, judging by the amount of negative news outflow.

Just a sample:
Reuters - Feb 2 Tanzanian President John Magufuli vowed on Thursday to toughen up a crackdown on tax evasion by big businesses including mining companies as the east African nation moves to boost domestic revenues.

Africa's fourth-largest gold producer, Tanzania also has vast deposits of natural gas, coal, diamonds, uranium and gemstones.

While addressing members of the judiciary in Tanzania's capital Dar es Salaam, Magufuli ordered the courts to enforce payment of tax claims worth more than 7.5 trillion Tanzanian shillings from big firms.

Magufuli launched a crackdown on graft and tax evasion when he took office in 2015 and has sacked dozens of senior public officials. Some businesses, though, say they have been unfairly hit with high tax bills.

Big firms are the main source of tax revenue for the government because Tanzania has a large informal economy that goes untaxed.

"It is unacceptable that an investor is extracting our minerals but doesn't pay taxes. That investor was taken to court and lost both the case and the appeal, yet still refuses to pay the taxes," Magufuli said.

He said that 7.5 trillion Tanzanian shillings worth of taxes were still unpaid by various firms even after the government won tax claim cases against them in courts and that this was hurting the east African nation's economy.

Magufuli asked Tanzania's judiciary to help stem corruption in the country, saying it was denying citizens access to justice.

"Some 28 magistrates were prosecuted (in Tanzania) last year for various criminal offences, mostly corruption, but all 28 of them were acquitted," said Magufuli.

"It is hard to believe that all 28 of them were absolutely not guilty."

Businesses in Tanzania often cite widespread corruption as one of the biggest obstacles to investment in the country. (Reporting by Fumbuka Ng'wanakilala; Editing by Elias Biryabarema and Hugh Lawson)

Sorry to say Jefferies paint a pretty gloomy picture:
"While the direct impact is clear, it is more than just greater uncertainty driving today's downgrade. Our past investment case and bullish view on the shares rested on several factors including growing FCF, higher shareholder returns, strengthened in-country relations and catalysts for a lowering of the ABX stake. All of which have now been negatively impacted, making the argument for a valuation re-rating much harder to justify.

The mid-January announcement of preliminary discussions with Endeavour Mining was a positive for the shares that, along with solid Q4 results, drove more than 20% outperformance vs UK peers through closing on Thursday. In our opinion, with a spike in jurisdictional risk in Tanzania, merger discussions with Endeavour are at the very least going to be delayed. This removes a key catalyst that was likely to have lowered ABX's stake and improve free float and liquidity.

At this point, we have cut 2017 estimates significantly to reflect the impacted volumes. EBITDA is reduced by 28% and stockpiled material drives working capital higher, weighing on FCF. Previous forecasts for high single-digit FCF yield in 2017 are now breakeven and the net cash balance shrinks by $14m YoY. We do believe the likely outcome is that ACA will be able to resume exporting but expect negotiations to be protracted."

exceedingly glad i banked all of mine about 10 days ago, purely because the gold price was looking soggy

re - glad i banked all of mine about 10 days ago

All lies as usual

If it goes up I bought... yesterday

If it goes down... I sold last week, 10 days ago etc.

the biggest liar in town some say and I agree.

note - naturally forgot to tell the board though has been posting many times since