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Acacia still in the woods

Despite a rising gold price, there are good reasons to remain very bearish on Acacia's shares
November 1, 2018

October was good month for gold bugs, but we're surprised by the market’s decision to bid up Acacia Mining (ACA) shares by 16 per cent given the group is still swamped in existential risk.

IC TIP: Sell at 155p
Tip style
Sell
Risk rating
High
Timescale
Short Term
Bull points

Rising gold price

Barrick support

Bear points

Management arrest

Dispute with Tanzania

Likely length of arbitration

Cash paralysis

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