Itinerant • Sat, Jan. 17
Update: Acacia Mining Beats 2014 Production GuidanceItinerant • Sat, Jan. 17
- Acacia Mining has beaten 2014 production guidance, and costs were reported at the bottom of the guided range.
- The company has most likely remained free cash flow positive in Q4 despite the volatile gold price.
- Our highly bullish view is further fortified.
- Acacia Mining has turned free cash flow positive and has finally presented its vision for the mid-term future.
- We are convinced that a turnaround has been accomplished and we are expecting significant growth going forward even at today's gold price levels.
- Management has succeeded on just about the most difficult task available in the gold mining industry. We are confident that it will deliver on its 5 year plan.
- Acacia Mining remains severely undervalued and should rerate over time to account for its successful reinvention.
- African Barrick Gold to change name to Acacia Mining.
- Confirms our observation that African Barrick Gold is distancing itself from its current name sake mother company Barrick Gold.
- Investors' day at the end of November should prove interesting.
Update: African Barrick Gold Reports Another Solid QuarterItinerant • Oct. 26, 2014
- African Barrick Gold has posted results for yet another good quarter.
- Production is up y-o-y and costs are down allowing for positive free cash flow.
- Our view of this company remains tentatively positive.
- African Barrick Gold is showing signs of a turn-around.
- Q2 was free cash flow positive, costs control appears to gain traction and management seems serious about right-sizing operations.
- Major share holder Barrick Gold continues to hold a 64% stake.
African Barrick Gold Is Compelling, But Cheap For A Reason
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