ACACIA MINING PLC Market Update
June 14 2017 - 8:05AM
UK Regulatory
TIDMACA
14 June 2017
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
Acacia Mining plc
LSE:ACA
("Acacia" or the "Company")
Market Update
Acacia notes the press release issued by the Office of the President of
Tanzania earlier today following a meeting between President of Tanzania H.E.
Dr. John P. Magufuli and John Thornton, the Executive Chairman of Barrick Gold
Corporation ("Barrick"), Acacia's majority shareholder. The release states that
Barrick and the Government of Tanzania have agreed to enter into discussions in
order to reach a mutually acceptable solution to the issues relating to the ban
on the export of gold/copper concentrates as well as the future framework for
Acacia's operations in Tanzania.
We will provide a further update as appropriate and our already scheduled
conference call on Thursday 15 June at 09:00 UK time will still take place,
with dial-in details below:
Participant dial in: +44 20 3059 8125
Password: Acacia Mining
ENQUIRIES
For further information, please visit our website: http://www.acaciamining.com/
or contact:
Acacia Mining plc
+44 (0) 20 7129 7150
Giles Blackham, Investor Relations
Camarco
+44 (0) 20 3757 4980
Gordon Poole / Billy Clegg / Nick Hennis
Bell Pottinger
+44 (0) 20 3772 2500
Nick Lambert / Aarti Iyer
About Acacia Mining plc
Acacia Mining plc (LSE:ACA) is Tanzania's largest gold miner and one of the
largest producers of gold in Africa. We have three producing mines, all located
in north-west Tanzania: Bulyanhulu, Buzwagi, and North Mara and a portfolio of
exploration projects in Tanzania, Kenya, Burkina Faso and Mali.
Our approach is focused on strengthening our three core pillars; our business,
our people and our relationships, whilst continuing to invest in our future.
Our name change from African Barrick Gold to Acacia in November 2014 reflected
a new approach to mining, and an ambition to create a leading African Company.
Acacia is a UK public company headquartered in London. We are listed on the
Main Market of the London Stock Exchange with a secondary listing on the Dar es
Salaam Stock Exchange. Barrick Gold Corporation is our majority shareholder.
Acacia reports in US dollars and in accordance with IFRS as adopted by the
European Union, unless otherwise stated in this announcement.
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.
END
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