Member Info for SimonThePieman

Following a recent African Nations cup qualifier held in Mwanza between Tanzania and Kenya the Tanzanian Government decreed that no more goals can be scored in Tanzania. A special committee of Tanzanian officials said that 'ten times' more goals were in the net than had been declared by the officials. A government spokesman said FeeFar had been under declaring the goal in the net as far back as the 1970s. Despite there being no verifiable evidence of the claims a second committee has been set up to establish the legal and economic implications of FIFA's blatant robbery of the Tanzanian people's goals. In further news the striker and manager of the National team have both been sacked but the blame lies at the feet of FeeFar.

So what happened at the meeting between Magufuli and John Thornton Chairman of Barrick Gold? Acacia released a statement overnight to say that no agreement has been made in response to the Magufuli tweet that 'They' have repented and agreed to repay all the losses. Nothing is settled yet but Magufuli has agreed to let a Barrick team inspect the two reports 'in situe'. So that's where we are right now. Interestingly nobody has mentioned the China connection. China is a massive investor in the Tanzania and John Thornton happens to be professor at the Tsinghua University in Beijing and one of only 12 people to recieve The China Friendship award having underwritten most of China's growth wnen head of Goldman Sachs. The will be pressure to find the right solution. Furthermore there is speculation that this is an attempt by Magufuli to discredit his predecessors. We will see a softer more concilliatory rhetoric from the Tanzanians from now on you might think.

Surely this has to go to a vote.

The company will have more cash in the bank than the MCAP ! Just goes to show that this is the worst company on AIM. One solitary buy this morning. Howe no-one is interested in YOU!

Billion dollar asset. Who will get the money? The whole company has been stolen from the shareholders. The SFO should investigate.

A whole lot a saber rattling coming from Magafuli; a whole lot of nationalistic rhetoric, but still not a piece of tangible evidence. Will the Tanzanian people fall for all this hot air? He has also just ordered the confiscation of undeveloped farmland [confiscation!]. The government seems to want to ignore legal principles. Magafuli wants to be Mugabe. I hope the Tanzanians stop him in time. Where is the evidence? Have Barrick gold sacked any Acacia people? No. Has Maguafuli sacked anyone? Yes.. Who is to blame? and for what? If there were evidence it would have been shown by now.

The Government has claimed that there is an elephant in those containers but refuses to show anyone. The evidence of the elephant in the containers is in the first report which was compiled by a committee formed and paid for by the plaintiff. The containers are now under locked guard guarded by the plaintiff which may suggest an attempt at contamination. The second committee's finding are based almost entirely on the findings of the first committee which in part remain secret. The claim made by the first committee that there is such a volume of gold in the containers flies in the face of 40 years of geological exploration. There are over 27,000 drill holes in the area none of which indicated the presence of such amounts of gold deposit. The fact that the government of Tanzania refuses to open the containers to independent verification is telling. Where is the evidence?????????

So we await the Tanzanian Governments next move. It seems the ball is in their court. What was the point of all this? What do they want? I definitely expect a whole load of information to come out pretty quickly. What benefit will the Tanzanian glean from a drawn out legal battle? So for they have presented no verifiable evidence whatsoever. Without evidence it seems like an asset grab. I hope there is pressure put on the government to produce the evidence.

It can only be good news from here. There's nothing more bad that can come from the government.

So now comes the negotiations... There's pressure on the government to solve this issue quickly as jobs are at stake.

Second report out tomorrow. legal and economic. Could exhonorate Acacia, could add fuel to the fire.

Prime Minister Kassim Majiliwa yesterday struck a reconsilliary tone assuring mining companies that the government would not take measures that will be unfair to their businesses in the current standoff over the export of mineral concentrates... http://www.thecitizen.co.tz/News/PM-sets-tone-for-dialogue-with-mining-companies/1840340-3953088-il3muvz/index.html

The SP tends to fall after the ex dividend date as was the case here, then recover, as was the case here, and the company has cash reserves of 190 million dollars..

Ex dividend date was the 4th of May and dividend payment date is today 31st [ 6.5p ]. That should help the SP when dividends are automatically converted into shares. On the 4th of May the yield represented 2.4% of the SP now represents 4.38%.

maybe Acasia is paying royalties based on the average content of raw Ore' including Gangue but the Committee want royalties based on the concentrate. That is to say the mined ore straight from the mine contains 0.25% gold but the refined concentrate contains 2.5% gold. So the government want 4% of the refined concentrate in the containers. I hope the contracts are clear. I bet you that's what's going on.

During the slide on Wednesday it rallied at 4.20 to 4.50 then fell to 3.30 after the meeting finished before rallying to 3.70. Then slid again to close on Wednesday at 3.11. Yesterday it started slowly but fell to 2.65 in the morning before a rise to 2.76 was taken mid afternoon as it fell to the low 2.50s. There was a twenty minute buying spree at the end to close at 2.65. Will that spree continue or will we see the 2.40s. If the President is serious about cleaning up corruption he needs to sort this out pretty quick. The world is watching.

If they offer to smelt in Tanzania the export count would be more accurate and it would create jobs.

I feel sorry for you lot, whoever is hanging on. This is a shorts heaven.

Why?

They have a MCAP of 24 million [A.U.D] and want to declare a loss of 120 million AND pay a dividend. Yeah, it's complicated. Every single RNS is UNREADABLE garbage, so unprofessional. They think the tax man will fall for it like we did. I hope they get there's! They got it coming. The money they got for selling the 120 million dollar asset will be kept for salaries. It's obvious. Then what's left will be sold off and the board will be right in the middle of that sale. DO NOT BUY THIS SHARE.