Acacia Mining PLC Response to Media Speculation (1891F)
February 16 2018 - 11:50AM
UK Regulatory
TIDMACA
RNS Number : 1891F
Acacia Mining PLC
16 February 2018
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN
PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD
CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH
JURISDICTION.
16 February 2018
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
Acacia Mining plc
("Acacia" or the "Company")
Response to Media Speculation
In light of recent media speculation, the Company confirms that,
in response to a number of expressions of potential interest from
Chinese counter-parties, it has commenced a process to explore the
value to the Company of the sale of a stake in some or all of its
Tanzanian operations.
The Company is engaging with a small number of potential
investors, the process remains at a very early stage and there can
be no certainty that an agreement will be reached.
Acacia continues to support the ongoing negotiations between the
Government of Tanzania and Barrick Gold Corporation, Acacia's
majority shareholder, in seeking to identify a detailed proposal to
present to Acacia for review. Acacia remains committed to
shareholder value and evaluates all opportunities against strict
strategic and financial criteria and any transaction will be
pursued only if it is determined by Acacia's Board to be in the
best interests of all shareholders.
The Company confirms that it has not received an approach from
any third parties to acquire shares in the Company.
ENQUIRIES
For further information, please visit our website:
www.acaciamining.com or contact:
Acacia Mining plc +44 (0) 20 7129 7160
Giles Blackham, Head of Investor Relations
Camarco +44 (0) 20 3757 4980
Gordon Poole / Nick Hennis
Disclaimer and forward-looking statements
This announcement is for information purposes only and does not
constitute an invitation or offer to underwrite, subscribe for or
otherwise acquire or dispose of any securities of Acacia in any
jurisdiction.
This announcement includes "forward-looking statements" that
express or imply expectations of future events or results as
opposed to historical facts. These statements include, financial
projections and estimates and their underlying assumptions,
statements regarding plans, objectives and expectations with
respect to future production, operations, costs, projects, and
statements regarding future performance. Forward-looking statements
are generally identified by the words "plans," "expects,"
"anticipates," "believes," "intends," "estimates" and other similar
expressions.
All forward-looking statements involve a number of risks,
uncertainties and other factors, many of which are beyond the
control of Acacia, which could cause actual results and
developments to differ materially from those expressed in, or
implied by, the forward-looking statements contained herein.
Factors that could cause or contribute to differences between the
actual results, performance and achievements of Acacia include, but
are not limited to, changes or developments in political, economic
or business conditions or national or local legislation or
regulation in countries in which Acacia conducts - or may in the
future conduct - business, industry trends, competition,
fluctuations in the spot and forward price of gold or certain other
commodity prices (such as copper and diesel), currency fluctuations
(including the US dollar, South African rand, Kenyan shilling and
Tanzanian shilling exchange rates), Acacia's ability to
successfully integrate acquisitions, Acacia's ability to recover
its reserves or develop new reserves, including its ability to
convert its resources into reserves and its mineral potential into
resources or reserves, and to process its mineral reserves
successfully and in a timely manner, Acacia's ability to complete
land acquisitions required to support its mining activities,
operational or technical difficulties which may occur in the
context of mining activities, delays and technical challenges
associated with the completion of projects, risk of trespass, theft
and vandalism, changes in Acacia's business strategy and ongoing
implementation of operational reviews, as well as risks and hazards
associated with the business of mineral exploration, development,
mining and production and risks and factors affecting the gold
mining industry in general.
Although Acacia's management believes that the expectations
reflected in such forward-looking statements are reasonable, Acacia
cannot give assurances that such statements will prove to be
correct. Accordingly, investors should not place reliance on
forward-looking statements contained in this announcement. Any
forward-looking statements in this announcement only reflect
information available at the time of preparation. Save as required
under the Market Abuse Regulation or otherwise as may be required
under applicable law, Acacia explicitly disclaims any obligation or
undertaking publicly to update or revise any forward-looking
statements in this announcement, whether as a result of new
information, future events or otherwise. Nothing in this
announcement should be construed as a profit forecast or estimate
and no statement made should be interpreted to mean that Acacia's
profits or earnings per share for any future period will
necessarily match or exceed its historical published profits or
earnings per share.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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