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Acacia Mining reports FY gold production ahead of guidance

Mon, 14th Jan 2019 07:06

(Sharecast News) - Acacia Mining reported gold production of 130,581 ounces for the fourth quarter, bringing the full year total to 521,980 ounces, "substantially ahead" of initial production guidance for the year of 435,000 - 475,000 ounces.Fourth quarter production was 12% lower year-on-year mainly due to the transitioning of Buzwagi to a stockpile processing operation, partly offset by higher gold production at North Mara and Bulyanhulu, Acacia said.Gold ounces sold for the quarter of 133,460 ounces were slightly higher than production due to the favourable timing of shipments and draw down of finished gold on hand, it added.Full year production was 32% lower than 2017 due to the transition to reduced operations at Bulyanhulu and to stockpile processing at Buzwagi.Full year gold sales of 520,380 ounces were broadly in line with production.The cash balance at the end of 2018 was up $50m year on year to about $130m with net cash increasing to around $88m at period end, Acacia said.Acacia was last week fined 300m Tanzanian shillings ($129,143) over allegations of breaching environmental regulations at its North Mara mine.

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23 Jul 2018 12:53

Monday broker round-up

(Sharecast News) - Hargreaves Lansdown: Jefferies downgrades to underperform with a target price of 1,650p.

20 Jul 2018 08:49

TOP NEWS: Acacia Earnings Slide As Tanzania Woes Continue To Bite

LONDON (Alliance News) - Acacia Mining PLC on Friday said profit slumped in the first half of its current financial year due to lower production, as the Tanzanian ban on metal concentrates to the

20 Jul 2018 07:39

LONDON MARKET PRE-OPEN: Acacia Profit Slump; HomeServe Trading In Line

LONDON (Alliance News) - Stocks in London are set to open marginally lower on Friday amid weak investor sentiment after US President Donald Trump criticised the US Federal Reserve, while reported a a

6 Jul 2018 08:40

LONDON MARKET OPEN: Stocks Higher; Inmarsat Dives On Offer Rebuff

LONDON (Alliance News) - Stock prices in London were broadly higher early on Friday with M&A action prominent, leading to both Inmarsat and BCA Marketplace in in

6 Jul 2018 08:25

Acacia Mining Quarterly Production Drops On Reduced Operations

LONDON (Alliance News) - Acacia Mining PLC on Friday posted a drop in quarterly gold production from the previous year due to reduced operations at one of its mines and stockpile processing at its

6 Jul 2018 07:42

LONDON MARKET PRE-OPEN: Stocks Seen Up; Inmarsat Rebuffs New Proposal

LONDON (Alliance News) - Stock prices in London are called for a higher open on Friday despite the start of US tariffs on Chinese goods, in a fairly thin morning for UK company news. Among the large

12 Jun 2018 08:55

Acacia Mining Reports Fatal Accident At North Mara Gold Mine

LONDON (Alliance News) - Acacia Mining PLC on Tuesday said that a accident at North Mara gold mine located in the Mara region of Tanzania led to the death of a contractor's operator early said

19 Apr 2018 07:01

LONDON MARKET EARLY CALL: Stocks Called Higher As Commodities Surge

LONDON (Alliance News) - Stock prices in London are seen opening higher on Thursday, continuing gains made on Wednesday, as a falling pound helps overseas exposed stocks and a surge in commodity a

9 Mar 2018 10:40

WINNERS & LOSERS SUMMARY: RM2 Jumps As It Sees Positive 2019 Earnings

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Friday.----------FTSE 100 - WINNERS----------Anglo American, up the

15 Feb 2017 16:45

Broker tips: Acacia Mining, Hunting, Ashtead

(ShareCast News) - Gold miner Acacia Mining had its share price target lifted in a bullish note from Jefferies on Wednesday morning. Jefferies reiterated its 'buy' rating and status as the investment bank's top pick in the sector, and lifted its target price to 575p from 550p as the once-chronic und

15 Feb 2017 11:18

Acacia Mining's valuation still not stretched, says Jefferies

15 Feb 2017 09:21

Wednesday broker round-up

(ShareCast News) - William Hill: HSBC downgrades to Reduce with a target price of 255p. Smith & Nephew: Berenberg reiterates Hold with a target price of 1275p. JD Wetherspoon: Deutsche Bank reiterates Sell with a target price of 600p. Acacia: Jefferies reiterates Buy with a target price of 575p.

14 Feb 2017 12:03

LONDON MARKET MIDDAY: Weak Pound Boosts FTSE 100 As Inflation Rises

14 Feb 2017 07:26

Acacia Mining returns to profit in 4th quarter

(ShareCast News) - Acacia Mining returned to profit in the final quarter of 2016 as it said 2017 gold production increased to between 850,000-900,000 ounces at lower costs of $880-$920 per oz. Fourth quarter pre-tax profits rose to $62m compared with a loss of $131.9m year-on-year. Revenues were up

31 Jan 2017 16:30

Sector movers: Miners boosted by weaker dollar, strike threat

(ShareCast News) - Shares of Industrial Metals and Mining firms led gains on Tuesday as a weaker dollar, supportive news-flow for crude oil and copper futures and low trading volumes in the latter lifted commodity prices. As of 1800 GMT, the US dollar spot index was fading 0.73% to 99.697 after US t

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