TIDMACA 
 
22 September 2015 
 
                               Acacia Mining plc 
 
                                    LSE:ACA 
 
                          ("Acacia" or the "Company") 
 
          Formation of Joint Venture to Progress the Nyanzaga Project 
 
Acacia is pleased to announce the formation of an earn-in joint venture with 
OreCorp Limited (ASX:ORR, "OreCorp") to progress the Nyanzaga Project (the 
"Project") in Tanzania. OreCorp will act as manager of the Project and will be 
able to earn up to a 25% ownership of the Project through the completion of 
various work programme milestones over a three year period for an aggregate 
project investment of US$15 million, including an up-front payment to Acacia of 
US$1 million. 
 
Brad Gordon, CEO of Acacia said: "We are pleased to have reached an agreement 
with OreCorp for them to earn-in to and progress the Nyanzaga Project. The 
structure of the joint venture allows us to continue our focus of delivery from 
our existing mines whilst retaining the optionality to participate in the 
potential future development of a large-scale gold mine. We believe that the 
team at OreCorp, having previously run large-scale projects in Tanzania, are 
well placed to advance the Project to a development decision and look forward 
to working with them to further develop the Tanzanian mining industry." 
 
Nyanzaga is located in north-west Tanzania in the Lake Victoria Goldfields 
region which is also host to all three of our producing mines. Since increasing 
our ownership of the Project to 100% in May 2010, Acacia has undertaken an 
extensive step-out and infill drilling programme with a total of 120,088 metres 
being drilled. This programme has extended the known gold mineralisation and as 
a result the Project is now host to an Indicated and Inferred in-pit resource 
of 4.2 million ounces at a grade of 1.3 grams per tonne[1]. 
 
As a result of our focus on ensuring each of our producing assets are 
performing to their geological potential, and delivering returns for our 
shareholders, limited activity has taken place at Nyanzaga since 2013. The 
formation of the earn-in joint venture with OreCorp allows the Project to be 
re-assessed and then progressed through to the completion of a Definitive 
Feasibility Study ("DFS") by a dedicated team who have experience in delivering 
value from large scale projects in Tanzania and across Africa, whilst allowing 
Acacia the optionality to maintain a 75% stake in the project once it gets to a 
development decision. 
 
The key terms of the earn-in joint venture are: 
 
  * OreCorp will make an initial US$1 million payment to Acacia for an initial 
    5% ownership of the project and will take over sole management of the 
    project for a three year period. A Technical Committee formed of 
    representatives from Acacia and OreCorp will oversee all work on the 
    project. 
  * Following payment of the initial consideration, OreCorp can earn up to a 
    further 20% interest in Nyanzaga over the course of three years by spending 
    US$14 million and delivering technical studies on the project. The delivery 
    of a scoping study (incremental 5% interest), a pre-feasibility study 
    (incremental 5% interest) and a definitive feasibility study (incremental 
    10% interest) represent the milestones for earning increased ownership of 
    the project. 
  * If the DFS delineates a project with a net present value ("NPV") of greater 
    than US$200 million, Acacia has the option to retain its 75% interest and 
    reassume management of the project for development purposes by making a 
    one-time payment to OreCorp based on a multiple of the earn-in expenditure 
    incurred, ascertained on a sliding scale basis. If the NPV is between 
    US$200 million and US$250 million, the multiple paid will be 3x. If the NPV 
    is between US$250 million and US$500 million, the multiple paid will be 
    between 3x and 4x on a straight-line basis, and above that will increase by 
    1x for every incremental US$250 million of NPV. 
  * If Acacia declines to exercise its option, or if the NPV is less than 
    US$200 million, OreCorp will have the option to acquire an incremental 26% 
    ownership (bringing its total to 51%) by making approximately US$15 million 
    of additional staged payments to Acacia. 
 
The conditions precedent to completion include the receipt of various third 
party and governmental consents or approvals, there being no material adverse 
change prior to completion of the transaction and OreCorp obtaining any 
regulatory approvals required for the joint venture under applicable ASX rules. 
Following completion of the transaction, Acacia will continue to fully 
consolidate the Project resources within our annual reserve and resource 
statement until such point that the earn-in agreement is completed. 
 
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 Manager 
 
Bell Pottinger                          +44 (0)20 3772 2500 
 
Daniel Thöle 
 
About Acacia Mining plc 
 
Acacia Mining plc (LSE:ACA), formerly African Barrick Gold, is Tanzania's 
largest gold miner and one of the largest producers of gold in Africa. We have 
three producing mines, all located in north-west Tanzania: Bulyanhulu, Buzwagi, 
and North Mara and a portfolio of exploration projects in Tanzania, Kenya, 
Burkina Faso and Mali. 
 
Our approach is focused on strengthening our three core pillars; our business, 
our people and our relationships. Our name change from African Barrick Gold to 
Acacia reflects a new approach to mining, and an ambition to create a leading 
African Company. 
 
Acacia is a UK public company headquartered in London. We are listed on the 
Main Market of the London Stock Exchange with a secondary listing on the Dar es 
Salaam Stock Exchange. Barrick Gold Corporation remains our majority 
shareholder. Acacia reports in US dollars and in accordance with IFRS as 
adopted by the European Union, unless otherwise stated in this announcement. 
 
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. Subject to the requirements of the 
Disclosure and Transparency Rules and the Listing Rules or 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. 
 
Mineral resources estimates contained in this announcement have been calculated 
in accordance with National Instrument 43-101 as required by Canadian 
securities regulatory authorities. Canadian Institute of Mining, Metallurgy and 
Petroleum (CIM) definitions were followed for the mineral resources estimates. 
The reserves and resources figures stated are estimates. No assurances 
whatsoever can be given that the indicated quantities of metal will be produced 

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