Acacia warns of possible earnings impact of weak shilling

If the current weakness of the Tanzanian shilling against the US dollar prevails until June 30, it will impact the end-of-quarter revaluation of Tanzanian shilling-denominated indirect tax balances owed to Tanzania-focused Acacia Mining. The tax balances were converted to dollars for reporting purposes. The outstanding Tanzanian shilling-denominated indirect tax balance, both long term and short term, was about $124-million at the beginning of the second quarter and, excluding the impact of currency, had not materially moved during the quarter.