Acacia Mining has noted that Barrick Gold reported its Q3 results last night and welcomed the further detail provided with respect to the proposed framework agreed between Barrick and the government of Tanzania.
Acacia said that among other details, in the release Barrick state that it expected to be able to present a detailed proposal to Acacia for review during the first half of 2018.
Acacia also noted that Barrick increased its existing tax provision of US$128 million with respect to Acacia's historical uncertain tax positions, by US$172m to US$300m.
Acacia said it did not intend to make any changes to its own provision of US$128m as a result of Barrick's announcement of an agreement of a proposed framework.
Acacia said that once it had received and had the opportunity to assess a detailed proposal, it would also be able to assess the potential impact on its historical uncertain tax positions.
At 9:43am: (LON:ACA) Acacia Mining Plc share price was +6.5p at 191.1p