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Banro Corp. (BAA)

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Last Post: 9/19/2017 2:03:40 AM - Followers: 332 - Board type: Free - Posts Today: 2

Banro is a Canadian gold company with two wholly-owned producing gold mines and two wholly-owned advancing gold exploration projects in the Democratic Republic of the Congo. The Twangiza mine produced 135,532 oz Au in 2015. The new Namoya gold mine entered commercial production on January 1, 2016 and has production targets of 9,000 to 10,000 oz Au per month. Exploration is ongoing at the fully permitted and licensed projects of Kamituga and Lugushwa. With Proven and Probable Mineral Reserves of 3.18 million oz Au, a Measured and Indicated resource of 7.04 million oz Au and an Inferred resource of 5.08 million oz Au, Banro’s properties host a major gold resource.

 

Banro Corporation

Banro is a Canadian gold company with two producing gold mines and two advancing gold exploration projects in the South Kivu and Maniema Provinces of the Democratic Republic of the Congo (DRC). These four, wholly-owned gold properties comprise 13 Exploitation Permits (mining licenses) covering a total area of 2,616 square kilometers. They are located along the 210 km, north-east to south-west trending Twangiza-Namoya gold belt. The gold belt is located in Proterozoic and Archean age rocks in the northern half of the Great lakes sub-province.

Mining & Exploration

The Company’s two operating gold mines are Twangiza, which produced 135,500 oz Au in 2015, and Namoya, which entered commercial production in January 2016 and has production targets of 9,000 to 10,000 oz Au per month. Multiple new exploration targets have been identified on both the Twangiza and Namoya properties. Meanwhile, exploration is ongoing at the fully permitted and licensed projects of Kamituga and Lugushwa.

In addition to these four licensed projects, Banro also holds 14 exploration permits covering 2,638 square kilometres and located on highly prospective ground between its Twangiza and Lugushwa projects. Applications for additional exploration permits contiguous to and located between the Company's Lugushwa and Namoya projects, along with areas south of Twangiza, are pending.

To date, only 12 percent of the concession area has been explored using modern exploration techniques.

Qualified Person Daniel K. Bansah, who is a Member of the Australasian Institute of Mining and Metallurgy (Aus.I.M.M), the Company's Vice President, Exploration and a "qualified person" (as such term is defined in National Instrument 43-101), has reviewed and approved the technical information included on this web site with respect to the Company's gold properties.




The first of Banro's two gold mines, Twangiza is targeted to produce 110,000 to 120,000 oz Au in 2016

Twangiza Mine
Twangiza became Banro's first producing open pit gold mine in October 2011, and commenced commercial production in September 2012. With mill throughput currently operating slightly above capacity of 1.7 million tonnes per year, Twangiza in 2015 produced 135,532 ounces of gold. The mine has an expected life of 14 years from currently defined reserves.

The property is located 45 kilometres south-southwest of Bukavu in South Kivu Province and consists of six Exploitation Permits covering 1,164 square kilometres in the highly-prospective 210km long Twangiza-Namoya gold belt.

Twangiza is the most advanced of Banro's four properties with a Mineral Reserve of 27.67 million tonnes grading 2.05 g/t Au containing 1.82 million ounces of gold. Measured and Indicated resources at Twangiza are 99.35 million tonnes grading 1.47 g/t Au containing 4.69 million ounces of gold plus an Inferred Resource of 9.83 million tonnes grading 1.17 g/t Au containing 370,000 oz Au. The updated resource calculation used a cut-off grade of 0.4 g/t Au.

The Twangiza deposit is comprised of two resource components - an oxide portion and a transition rock/fresh rock (non-oxide) portion. The current activities involve mining and processing a blend of both oxide and non-oxide material within the reserve pit shell using the existing plant. Exploration activities are focused on growing the oxide resource.

In 2016, management efforts will focus on increasing plant production through expansion of the fine crushing circuit. This is expected to create a finer grind which is more amenable for improved leach dissolution. The additional crushing equipment has been procured and is expected to be commissioned in the third quarter of 2016.

The most recent technical report with respect to Twangiza that has been filed by Banro on SEDAR is dated July 29, 2015 and entitled NI 43-101 Technical Report, Mineral Resource and Reserve Update, December 31 2014, Twangiza Gold Mine, Democratic Republic of the Congo. A copy of this report may be accessed at www.sedar.com.


 

Banro's second gold mine, Namoya, began commercial production on January 1, 2016

Namoya Mine

Banro's Namoya (oxide and free-milling) mine entered commercial production on January 1, 2016. At full capacity, the Namoya mine, a hybrid heap leach – CIL plant, is expected to produce 9,000 to 10,000 ounces of gold per month.

Namoya has a Proven and Probable Mineral Reserve of 20.94 million tonnes grading 2.02 g/t Au containing 1.36 million ounces of gold. Measured and Indicated resources at Namoya are 25.68 million tonnes grading 1.96 g/t Au containing 1.62 million ounces of gold plus an Inferred Resource of 5.03 million tonnes grading 1.63 g/t Au containing 260,000 oz Au. The updated resource calculation used a cut-off grade of 0.4 g/t Au.

The Namoya property lies at the southern end of the Twangiza-Namoya gold belt in Maniema province, approximately 210 kilometers southwest of Twangiza and consists of one PE covering an area of 174 square kilometres.


 

Mineral Reserves, As At December 31, 2015


Mine/Project/Category
Tonnes
(Mt)
Grade
(g/t Au)
Gold
(Mozs)
Twangiza
Proven 6.21 2.19 0.44
Probable 21.47 2.01 1.39
Total Proven & Probable 27.67 2.05 1.82
Namoya
Proven 17.90 2.10 1.21
Probable 3.04 1.53 0.15
Total Proven & Probable 20.94 2.02 1.36
TOTAL MINERAL RESERVE
Proven 24.10 2.12 1.65
Probable 24.50 1.95 1.54
Total Proven & Probable 48.61 2.03 3.18

Note: Rounding of numbers may result in computational discrepancies.Mineral Reserves included in Mineral Resources.

Mineral Resources, As At December 31, 2015


Mine/Project/Category

Tonnes
Grade
(g/t Au)
Gold
(Moz)
Twangiza (Oxide)
Measured 2.49 1.99 0.16
Indicated 8.57 1.86 0.51
Measured & Indicated 11.06 1.89 067
Inferred 1.56 1.20 0.06
Twangiza (Transition & Fresh)
Measured 3.11 2.11 0.21
Indicated 85.18 1.40 3.81
Measured & Indicated 88.29 1.42 4.02
Inferred 8.27 1.17 0.31
Namoya (Oxide & Free-milling)
Measured 20.44 2.02 1.33
Indicated 5.24 1.73 0.29
Measured & Indicated 25.68 1.96 1.62
Inferred 5.03 1.63 0.26
Lugushwa (Oxide)
Indicated 16.91 1.35 0.73
Inferred 6.17 1.56 0.31
Lugushwa (Transition & Fresh)
Inferred 65.01 1.54 3.22
Kamituga
Inferred (Surface) 4.14 2.40 0.32
Inferred (Underground) 3.12 6.00 0.60
TOTAL MEASURED & INDICATED 141.94 1.54 7.04
TOTAL INFERRED 93.29 1.70 5.08



www.banro.com/assets/pdf/2016-09-banro-presentation.pdf

 

 

 

 

 
Common Shares Outstanding 302,309,005
Options 20,414,192
Warrants 34,200,0001
Exchangeable Preferred Shares 63,000,0002
Series A Preference Shares 116,0003
 

 

 

 

 

 

 

 

 

 

 

 







 



















 

Research Links for Due Diligence on Banro & BAA Research
www.banro.com/s/QwikReport.asp
www.banro.com/s/Home.asp
stockcharts.com/charts/gallery.html
http://canadianinsider.com/node/7?menu_tickersearch=BAA
http://investors.morningstar.com/ownership/shareholders-overview.html?t=BAA
http://www.nasdaq.com/symbol/baa/institutional-holdings
http://investing.money.msn.com/investments/institutional-ownership?symbol=BAA
http://www.sec.gov/cgi-bin/browse-edgar?CIK=BAA&Find=Search&owner=exclude&action=getcompany
http://www.sedar.com/search/search_form_pc_en.htm


 
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BAA News: Report of Foreign Issuer (6-k) 09/15/2017 06:03:28 AM
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PostSubject
#62380   The pound was at 1.20. Now it is BAA_Up 09/19/17 02:03:39 AM
#62379   Bitcoin .. Fedcoin? BAA_Up 09/19/17 01:04:19 AM
#62378   Bitcoin .. Fedcoin? badge0913 09/18/17 12:12:06 PM
#62377   Madness, this is absolutely new, I would not BAA_Up 09/17/17 01:24:04 AM
#62376   This is the privilege of all major conglomerates. BAA_Up 09/17/17 12:57:39 AM
#62375   Interesting, corporations pay about 25% of taxes their StockItOut 09/15/17 04:22:59 PM
#62372   I will visit your posts there. Been thinking StockItOut 09/15/17 03:08:11 PM
#62371   There are no preferred shares to have holders. StockItOut 09/15/17 03:05:51 PM
#62367   Rich profits which benefit management and preferred share keyotee 09/15/17 01:22:30 PM
#62366   Yeah, could be. Not holding well however. StockItOut 09/15/17 12:25:47 PM
#62365   Aaaw, you removed it. Was funny. Even StockItOut 09/15/17 12:19:32 PM
#62364   Fair enough, you're not manipulating BAA share price StockItOut 09/15/17 12:18:17 PM
#62363   How about that manipulation of near double the StockItOut 09/15/17 12:15:16 PM
#62362   I dont know about capitulation, I would think investorwisdom 09/15/17 11:48:47 AM
#62361   How can a bankrupt country risk a war Masterview 09/15/17 11:33:29 AM
#62360   If you want a sticky note or any investorwisdom 09/15/17 11:25:05 AM
#62358   That's not true, I am long and strong investorwisdom 09/15/17 11:12:13 AM
#62357   Same old junk. kpisme 09/15/17 10:38:05 AM
#62356   About this sticky post I have already laughed BAA_Up 09/15/17 04:10:36 AM
#62354   I've been thinking nickel as interesting. You're suggesting StockItOut 09/15/17 03:58:52 AM
#62353   More encouragement than complaint. StockItOut 09/15/17 03:55:30 AM
#62352   For me, this management is a joke. BAA_Up 09/15/17 03:44:53 AM
#62351   True. Seems so poor for Q2, but correct, StockItOut 09/15/17 03:41:44 AM
#62350   Based upon previous lows taken out? StockItOut 09/15/17 03:26:34 AM
#62348   Your complaint because of the discussion about the BAA_Up 09/15/17 01:18:40 AM
#62347   This is a .025 to .0380 post keyotee 09/15/17 01:11:31 AM
#62346   I can agree. BAA_Up 09/15/17 01:03:15 AM
#62345   Banro will earn $70, $80, $90, $100 more StockItOut 09/15/17 12:25:32 AM
#62344   I get it, you mean gold is not StockItOut 09/15/17 12:25:01 AM
#62343   A good reason. StockItOut 09/15/17 12:21:12 AM
#62342   Nothing to thank, I agree, well commented. But BAA_Up 09/15/17 12:11:22 AM
#62341   Answer won't happen. StockItOut 09/14/17 10:25:31 PM
#62340   Agree, well stated. The 'almost there' part, that's StockItOut 09/14/17 10:21:00 PM
#62339   Manipulation is from LONG n STRONGERS with VISION StockItOut 09/14/17 10:17:21 PM
#62337   It's not going to rebound overnight, the price investorwisdom 09/14/17 02:49:39 PM
#62336   I founded this board years ago, long before investorwisdom 09/14/17 02:45:31 PM
#62333   So, why would someone manipulate the market like Elevation 09/14/17 11:26:57 AM
#62332   Manipulation still continues here, no change. kpisme 09/14/17 11:06:06 AM
#62331   What do you think of recent price action StockItOut 09/14/17 08:17:26 AM
#62330   Youre right, yet also, what about next year StockItOut 09/14/17 07:57:24 AM
#62329   Thanks BAA-Up! Your reasoning is exactly why TeamTOC 09/14/17 07:37:22 AM
#62328   Thanks, except a dime is old $.01, not $1.00. StockItOut 09/14/17 07:25:12 AM
#62327   Elev, are you being facetious here, or not? StockItOut 09/14/17 05:03:41 AM
#62326   TeamToc Are you satisfied? I copied some mails for BAA_Up 09/14/17 02:07:58 AM
#62325   I do not know any Rory Taylor BAA_Up 09/14/17 01:27:44 AM
#62324   sorry, this was.... 06.28.2017 15:37 BAA_Up 09/14/17 01:22:35 AM
#62323   After a long time I told the company BAA_Up 09/14/17 01:19:52 AM
#62322   I hear you stock it out. I respect Elevation 09/14/17 01:14:13 AM
#62321   I can help by name dropping.................................................... Elevation 09/14/17 01:12:37 AM
#62320   But one thing is really relevant. Banro and BAA_Up 09/14/17 01:01:52 AM
PostSubject