ACACIA MINING PLC Update on Barrick discussions with Govt of Tanzania
25 June 2018 - 4:01PM
UK Regulatory
TIDMACA
25 June 2018
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
Acacia Mining plc
LSE:ACA
("Acacia" or the "Company")
Update on Barrick Gold Corporation's discussions with the Government of
Tanzania
Acacia Mining plc (the "Company") notes the announcement on Sunday 24 June 2018
made by Barrick Gold Corporation ("Barrick"), providing an update on Barrick's
discussions with the Government of Tanzania ("GoT").
The Company notes Barrick's statement that the discussions between Barrick and
the GoT are constructive, and that progress has been made on the drafting of
definitive agreements necessary for the implementation of the proposed
framework agreed between Barrick and the GoT in October 2017.
The Company has been supporting Barrick in its discussions with the GoT, but
has not been directly involved in those discussions to date. Any proposal
received by the Company in the future that might be agreed in principle between
Barrick and the GoT as a result of those discussions will be subject to review
by the Independent Committee of the Acacia Board of Directors.
The Company further notes from the statement that Barrick is not providing a
timetable for the completion of Barrick's discussions with the GoT at this
time, in order to allow its process to continue in an orderly manner and
without an arbitrary deadline.
The Company will continue to engage with Barrick to seek to understand
Barrick's expectations for the future conduct and a timetable for the
completion of its discussions with the GoT.
Further updates will be provided by the Company in due course.
ENQUIRIES
For further information, please visit our website: http://www.acaciamining.com/
or contact:
Acacia Mining plc +44 (0) 20 7129 7150
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.
END
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