Magufulis decision on the ban finally starts paying off

Magufulis decision on the ban finally starts paying offPositive results from the Buzwagi Processing Trial has indicated that the mine should be able to achieve gold recoveries of around 85 percent through the additional use of reagents in the leaching circuit at limited additional costs.

Acacia said that Buzwagi will now be able to sell an additional 8000-10000 ounces of gold per month for the remainder of the year from the gold bars extracted from its mineral sand.

Buzwagi previously planned to end concentrate production in Q2 2018, but as a result of the trial the mine will solely produce doré from now until the end of its life in 2020.

Acacia said that they believe that the changes will move the mine from a monthly negative cash flow position to a positive one which will strengthen acacia balance sheets and help to protect thousands of direct and indirect jobs that the Company supports.