Acacia’s gold output rises threefold in Quarter 3

[Mkikuyu- Akili timamu]

Goldminer Acacia Mining Plc has recorded a strong performance for the quarter ending September 30, with production jumping to 391,000 ounces (13.8kg) from 133,778 ounces (4.7kg) in the second quarter.

“We are pleased to report a strong operational performance for the year, and expect to exceed the upper end of our full-year production guidance range. We are targeting in excess of 500,000 ounces [17kg] for the full year,” Acacia’s interim chief executive Peter Geleta said last Monday.

The initial full year production target from the company's three mines in northwestern Tanzania — Bulyanhulu, Buzwagi, and North Mara — was 435,000 (15.3kg) to 475,000 ounces (16.8kg).

The company attributes the good performance to high production in the North Mara sites, which produced 89,287 ounces (3.2kg) for the quarter, a 24 per cent increase from 72,011 ounces (2.5kg) in the same period in 2017.
“This was mainly due to 21 per cent higher head grades compared with the same period in 2017, which was driven by higher grade ore received from the eastern part of the Nyabirama open pit,” said Mr Geleta.
The Buzwagi mine recorded a 47 per cent drop in production to 36,460 ounces (1.3kg) — from 69,097 ounces (2.4kg) in the same period last year. The miner blamed it on “transitioning to a lower grade stockpile processing operation.”
The Bulyanhulu mine produced 10,893 ounces (385 grammes) for the quarter, 78 per cent lower than the Quarter Three 2017 output of 50,094 ounces (1.8kg).

Quarter Three 2018 output of 136,640 ounces (4.8kg) is 29 per cent lower than that of Q3 2017 of 191,203 ounces (6.8kg).

The firm attributed the lower production to reduced operations in Bulyanhulu and the stockpile processing in Buzwagi.

 

[Mkikuyu- Akili timamu]

After JPM signed tough laws on mining and imposing backdated taxes on accacia.
This man, JPM is a genious

 

[M-mbabe]

After JPM signed tough laws on mining and imposing backdated taxes on accacia.
This man, JPM is a genious

wewe jamaa bana, you brought this thing up below yourself. au ni C&P bila ya kusoma?

The company attributes the good performance to high production in the North Mara sites, which produced 89,287 ounces (3.2kg) for the quarter, a 24 per cent increase from 72,011 ounces (2.5kg) in the same period in 2017.
“This was mainly due to 21 per cent higher head grades compared with the same period in 2017, which was driven by higher grade ore received from the eastern part of the Nyabirama open pit,” said Mr Geleta.

 

[Geza Ulole]

wewe jamaa bana, you brought this thing up below yourself. au ni C&P bila ya kusoma?

But that's mining language any establishment knows exactly where high grade ore deposits r located! The truth is after mineral concentrate export ban, Acacia revenues have fallen n to keep the her share value high at LSE, they have to extract more gold.

 

[M-mbabe]

But that's mining language any establishment knows exactly where high grade ore deposits r located! The truth is after mineral concentrate export ban, Acacia revenues have fallen n to keep the her share value high at LSE, they have to extract more gold.

doesn't add up.
so.. Acacia extracting more gold from the ore is credit to JPM? how?

 

[Geza Ulole]

doesn't add up.
so.. Acacia extracting more gold from the ore is credit to JPM? how?

Yes as he narrowed their revenue avenue! Afterall other minerals were never accounted for! Hii maneno si level yako mzee tulia!

 

[M-mbabe]

Yes as he narrowed there revenue avenue! After all other minerals were never accounted for! Hii maneno si level yako mzee tulia!

i dont know you, you dont know me.... so let's quit patronizing here and focus on arguments.

you say he narrowed their "revenue avenue" and yet the revenues are on the up, which you claim were never accounted for... proof?

no proof, then better you shut the f... up!

 

[Geza Ulole]

i dont know you, you dont know me.... so let's quit patronizing here and focus on arguments.

you say he narrowed their "revenue avenue" and yet the revenues are on the up, which you claim were never accounted for... proof?

no proof, then better you shut the f... up!

Use Google u will see Acacia used to export copper, platinum n other minerals n they never paid taxes n royalties on these other minerals! Right now they only export gold as their core business has ever been! As a matter of fact they r forced to mine higher ore deposits to get more gold n keep the revenue target! BTW do u know the meaning of a word ore?

 

[Mkikuyu- Akili timamu]

wewe jamaa bana, you brought this thing up below yourself. au ni C&P bila ya kusoma?

You wanted Accacia to tripple their revenue by planting cashewnuts? Nonesense..You cant even understand simple elementary issues. Utapata taabu sana

 

[M-mbabe]

Use Google u will see Acacia used to export copper, platinum n other minerals n they never paid taxes n royalties on these other minerals! Right now they only export gold as their core business has ever been! As a matter of fact they r forced to mine higher ore deposits to get more gold n keep the revenue target! BTW do u know the meaning of a word ore?

until the infamous export ban, Acacia were exporting copper concentrates and gold (bullion).

here we go...

the govt bans the concentrates export. as a business, do you sit back and resort to being a crybaby?
the answer is simple. you have to make up for the lost ground by streamlining your investment priorities focusing on areas that are left for you to exploit, which is exactly what Acacia have been doing, albeit not so profitably because the concentrate business was more lucrative for obvious reasons.

ore? one doesn't need to be a mining expert to know what an ore is. if you don't, can you please consult "uncle google"?

 

[Geza Ulole]

until the infamous export ban, Acacia were exporting copper concentrates and gold (bullion).

here we go...

the govt bans the concentrates export. as a business, do you sit back and resort to being a crybaby?
the answer is simple. you have to make up for the lost ground by streamlining your investment priorities focusing on areas that are left for you to exploit, which is exactly what Acacia have been doing, albeit not so profitably because the concentrate business was more lucrative for obvious reasons.

ore? one doesn't need to be a mining expert to know what an ore is. if you don't, can you please consult "uncle google"?

Now we speak the same language! Thank u! What was ur argument? BTW Magufuli ban came with tightening laws just like what Mkikuyu- Akili timamu said! ☺

 

[M-mbabe]

Now we speak the same language! Thank u! What was ur argument? BTW Magufuli ban came with tightening laws just like what Mkikuyu- Akili timamu said! ☺

the question then begs....who is the eventual loser? govt or Acacia? if you ask me i will say both (and actually plus).
no concentrates exports, profit shrinkage for Acacia, meagre corporate tax to the govt. plus poorer wananchi.

quite ugly!!

 

[joto la jiwe]

the question then begs....who is the eventual loser? govt or Acacia? if you ask me i will say both (and actually plus).
no concentrates exports, profit shrinkage for Acacia, meagre corporate tax to the govt. plus poorer wananchi.

quite ugly!!

You must know that concentrates production is still going on but are not transported anywhere until we agree and get back what was stollen from us, government will benefit greatly eventually

 

[M-mbabe]

You must know that concentrates production is still going on but are not transported anywhere until we agree and get back what was stollen from us, government will benefit greatly eventually

...wait until when? huku the wananchi are losing jobs, etc?? come on....for whose benefit?

who stole what from who? no one is yet to prove todate how much was stolen by whoever. of course, apart from that report dubbed "professorial rubbish"!

 

[Mkikuyu- Akili timamu]

...wait until when? huku the wananchi are losing jobs, etc?? come on....for whose benefit?

who stole what from who? no one is yet to prove todate how much was stolen by whoever. of course, apart from that report dubbed "professorial rubbish"!

See the problem with shallow thinkers. What is worse -Shorterm loss of jobs and productivity or long term complete loss of all Tz mineral wealth?

 

[M-mbabe]

See the problem with shallow thinkers. What is worse -Shorterm loss of jobs and productivity or long term complete loss of all Tz mineral wealth?

if anyone is thinking of long term Tanzania wealth under a perennially thieving CCM, then that's nothing but a pipe-dream!!

 

[Mkikuyu- Akili timamu]

if anyone is thinking of long term Tanzania wealth under a perennially thieving CCM, then that's nothing but a pipe-dream!!

CCM is going to rule Tz for a very very long time. So you better learn to love them or continue to wallow in bitterness.

 

[M-mbabe]

CCM is going to rule Tz for a very very long time. So you better learn to love them or continue to wallow in bitterness.

ask around...... everyone thought Mugabe would last forever, let alone Hitler or Iddi Amin!

 

[Mkikuyu- Akili timamu]

ask around...... everyone thought Mugabe would last forever, let alone Hitler or Iddi Amin!

I said CCM is going to rule for ever not JPM.
So wallow in your self pity

 

[Jay456watt]

ask around...... everyone thought Mugabe would last forever, let alone Hitler or Iddi Amin!

😀😀😀huyo mwache tu ndugu... ni mental case