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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Acacia Mining    ACA   GB00B61D2N63

ACACIA MINING (ACA)
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09/10ACACIA MINING : Nyanzaga Project Update
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Acacia Mining 2Q Production Drops as Tanzania Woes Continue

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07/06/2018 | 09:11am CEST

By Oliver Griffin

Acacia Mining said Friday that gold production in the second quarter dropped 36% on year as the effect of an export ban in Tanzania continues to weigh on performance.

In a production update for the three months ended June 30, the gold miner said that group gold production fell to 133,759 ounces from 208,533 ounces in the second quarter of 2017.

Acacia has been hit by an export ban on metal concentrates in Tanzania imposed by the country's government last year. The company has been made to sit on the sidelines while majority shareholder Barrick Gold Corp negotiates with the government to bring the export ban to an end. However, a definitive agreement still hasn't been reached.

Acacia said it sold 134,090 ounces of gold in the quarter, higher than the amount of gold produced due to the result of shipment timings.

The company said that first-half gold production of 254,759 ounces shows it is on track to meet the top end of its production guidance range of 435,000 ounces to 475,000 ounces of gold in 2018.

Write to Oliver Griffin at oliver.griffin@dowjones.com

Stocks mentioned in the article
ChangeLast1st jan.
ACACIA MINING -2.94% 102.25 Delayed Quote.-48.49%
BARRICK GOLD CORP 0.81% 13.61 Delayed Quote.-25.74%
GOLD 0.23% 1202.14 Delayed Quote.-8.00%
PLATINUM 0.41% 818.2 Delayed Quote.-14.34%
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Latest news on ACACIA MINING
09/10ACACIA MINING : Nyanzaga Project Update
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07/20Acacia Mining PLC ADR 2018 Q2 - Results - Earnings Call Slides 
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Financials ($)
Sales 2018 686 M
EBIT 2018 152 M
Net income 2018 68,2 M
Finance 2018 125 M
Yield 2018 3,50%
P/E ratio 2018 5,95
P/E ratio 2019 4,11
EV / Sales 2018 0,62x
EV / Sales 2019 0,39x
Capitalization 552 M
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Technical analysis trends ACACIA MINING
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TrendsBearishBearishBearish
Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 17
Average target price 2,26 $
Spread / Average Target 68%
EPS Revisions
Managers
NameTitle
Peter Geleta Chief Executive Officer & Executive Director
Rachel English Chairman
Jaco Maritz Chief Financial Officer
André Falzon Independent Non-Executive Director
Stephen Galbraith Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
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BARRICK GOLD CORP-25.74%12 081
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AGNICO EAGLE MINES LTD-23.48%7 977