Was reading about the Issues and court cases involved with Acacia - govt taken a hard stance on Tax avoidance, Acacia has been constantly claiming a loss - whist paying divi's to SH offshore.
the President Elect John Magufuli has recently brought this issue to light and has taken a stance vocally within speeches. Over 200 law suits Acacia faces, and are looking to get out of Tanzania altogether. The recent speech from Brad Gordon suggests they are moving out for other reason in relation to last QS production and to the POG futures and over supply into the market. There has been no mention of Orecorp or third party miners at this stage i could find, but it does seem like there is some long standing history there with the community in general, with corruption, deaths, and govt officials steaming as far back as Barrack: seems like a fair amount of animosity, I do wonder how this affects ORR medium term. From a positive aspect I would say ORR is likely to retain full control after DFS. If it wasn't for the Strong Management and my belief in there ability, the risk here would be far to grey for me. Looking forward to some news soon to get the technical's back to the brighter side of trend.
ORR Price at posting:
49.5¢ Sentiment: Buy Disclosure: Held
