Image source: Company website
Investment Thesis
Acacia Mining Plc (ABGLF) (ABGLY), which spun-off from Barrick Gold (ABX) last 2010, was accused of tax evasion in an ongoing case that triggered an enormous $190 billion tax bill. The government of Tanzania slapped the company with charges of alleged tax evasion. It was found out that the value of its mineral concentrates was ten times higher than what was reported in its books.
This conflict escalated to a point that its former parent company intervened by working out some arbitration notices for its Buzwagi and Bulyanhulu mines