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LON250:ACA, Apr 21, 06:51 UTC

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Can Acacia Communications Survive the ZTE Disaster?

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'Shares of Acacia Communications(NASDAQ:ACIA) plunged 36% with the rest of the optical sector on April 16 after the U.S. Department of Commerce banned all American companies from selling components to Chinese tech giant ZTE(NASDAQOTH:ZTCOY).', 'Acacia was hit the hardest, since 30% of its sales came from ZTE last year. What happened to Acacia?', "That's why the stock surged from its IPO price of $23 to almost $120 in the first four months. However, a secondary offering near that peak popped the bubble, and an unexpected slowdown in network upgrades in China caused its growth to grind to a halt.", "Prior to the ZTE ban, analysts had expected its revenue to dip another 4% this year. But with ZTE's orders now blocked, it's reasonable to assume that Acacia's annual sales could drop by at least 20% to 30%."

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Acacia Mining (LON250:ACA) social chatter is higher than usual

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A gold processing plant in Tanzania. Acacia Mining reported a near 50 per cent fall in first… https://t.co/rGz6ShS7oK @UnitedNewsofUSA
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Tanzania: Acacia, Investors in Talks On Possible Joint Venture

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"Dar es Salaam — Acacia Mining Plc reiterated on Thursday that it was still discussing with Chinese investors for a possible investment deal in one or more of the firm's mines in Tanzania.", "The company, which operates North Mara, Buzwagi and Bulyanhulu gold mines in Tanzania, is reportedly negotiating with China's Shandong Gold Mining Co Ltd, Zijin Mining Group Co Ltd and with state-owned China National Gold Group for a possible joint venture.", '"Acacia remains committed to shareholder value and evaluates all opportunities against strict strategic and financial criteria. Any transaction will be pursued only if it is determined by Acacia\'s Board to be in the best interests of all shareholders," the statement reads.', "In the endeavor to resolve the tax dispute, Barrick struck a deal with the government in October last year (2017) that would see Acacia paying $300 million to the government, hand over a 16 per cent stake in its mines and split 'economic benefits' from operations. But Acacia said in the statement that it awaits a detailed agreed proposal and documented final agreements for a comprehensive settlement in the coming months. While sticking to its full-year targets of producing gold output of between 435,000-475,000 ounces, Acacia's earnings during the first quarter were 49.4 per cent lower than during a similar period last year, largely due to reduced operations at Bulyanhulu Mine amid a tax dispute with the government."

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Thursday, April 19


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Acacia Mining production drops 45 per cent as Tanzania troubles persist

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'Acacia Mining production drops 45 per cent as Tanzania troubles persist.', 'London-based miner Acacia Mining, owned 64 per cent by Barrick, says the drop in production resulted from reduced operations at its Bulyanhulu mine and producing mostly from lower-grade stockpiles at its Buzwagi mine.', 'Acacia reduced production at both mines after the Tanzanian government imposed export restrictions on gold and copper, while the company is also still facing a potential $240-billion tax bill from government.', 'Barrick Gold said last October that it had negotiated a deal with the Tanzanian government that would include profit sharing and a $380 million goodwill payment, but discussions on a potential resolution continue.'

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Acacia Mining (LON250:ACA) social chatter is higher than usual

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Embattled Acacia Mining keeps losing money due to Tanzania tax row https://t.co/EWr8W852UG https://t.co/D35LIFJ3TU
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Acacia Mining (LON250:ACA) article volume is higher than usual

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Barrick Gold’s Acacia unit sees profit slump after Tanzania tax row view top sourcebeta

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theglobeandmail.com
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Acacia First-Quarter Revenue Hit By Lower Sales, Though Earnings Rise

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'LONDON (Alliance News) - Acacia Mining PLC on Thursday reported a fall in revenue for the first quarter of 2018 on lower gold sales, though earnings did increase year-on-year.', 'This has led to a reduction in revenue of 33% to USD157.0 million in the period, though this was "slightly" offset by higher gold prices.', 'Earnings before interest, tax, depreciation, and amortisation were USD86.0 million, which was actually 4% up year-on-year, mainly due to the sale of a non-core royalty asset for USD45.0 million.', "Adjusted, Ebitda was USD44.0 million. As stated last week, the Bulyanhulu mine in Tanzania's production dropped 87% to 8,527 ounces from 63,346 ounces the prior year, as the mine was placed on reduced operations in late 2017."

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iii.co.uk lse.co.uk
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Acacia Mining's first-quarter profit slumps after Tanzania tax row

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"Acacia, a unit of Canada's Barrick Gold <ABX.TO> and Tanzania's largest gold miner, said its gold production fell 45 percent in the first quarter from a year earlier to 120,981 ounces, mainly due to lower output at its flagship Bulyanhulu mine.", "Acacia's London-listed shares skidded 8.8 percent to 141 pence by 0919 GMT and have now tumbled more than 70 percent since Tanzania introduced a ban on concentrate exports in March 2017.", "Discussions between parent Barrick and the government to resolve both Tanzania's export ban on concentrates and the tax dispute are ongoing, Acacia said.", "It would see Acacia pay $300 million to the government, hand over a 16 percent stake in its mines and split 'economic benefits' from operations. However, Acacia has said any agreement would need to be reviewed by its board and expects a detailed version of the deal within the first half of the year."

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Acacia Mining (LON250:ACA) social chatter is higher than usual

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Acacia Mining : posts lower first-quarter earnings, maintains full-year targets https://t.co/r2mvAJ4oGu
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Acacia Mining (LON250:ACA) article volume is higher than usual

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Acacia Mining (LON:ACA) Given Outperform Rating at Royal Bank of Canada view top sourcebeta

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ledgergazette.com