28 July 2017
THIS ANNOUNCEMENT
CONTAINS INSIDE INFORMATION
Acacia Mining
plc
LSE:ACA
(“Acacia” or the “Company”)
Market Update
Further to previous communications regarding its ongoing dispute
with the Government of Tanzania,
Acacia would like to inform the market that a senior international
employee of its wholly owned subsidiary Pangea Minerals Limited was
prevented from leaving Tanzania
this morning. His passport was seized and he was detained at the
Dar-es-Salaam airport for a period
of time. Following legal intervention, he was released and his
passport has been returned. This incident follows on from increased
levels of pressure from Government agencies on Acacia employees in
the past 48 hours. Acacia is working with our legal advisers and
relevant authorities to support our people.
Acacia re-iterates that it operates in full compliance with
Tanzanian law, has declared everything of commercial value that we
have produced and has paid all appropriate royalties and taxes. The
Company will keep the market regularly informed as to developments
as they occur in Tanzania when
they are of a sufficient materiality in the context of what has
already been disclosed.
ENQUIRIES
For further information, please visit our website:
http://www.acaciamining.com/ or contact:
Acacia Mining plc |
+44 (0) 20 7129 7150 |
Giles Blackham, Investor
Relations
Camarco |
+44 (0) 20 3757 4980 |
Gordon Poole / Billy Clegg / 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.