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Banro Corp. (BAA)

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Last Post: 12/14/2017 3:44:47 AM - Followers: 326 - 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) 12/12/2017 06:03:57 AM
BAA News: Report of Foreign Issuer (6-k) 12/01/2017 05:28:35 PM
BAA News: Banro Announces Exercise of Contractual Right to Defer Interest Payment on Secured Notes 12/01/2017 06:30:00 AM
BAA News: Banro Announces Exercise of Contractual Right to Defer Interest Payment on Secured Notes 12/01/2017 06:30:00 AM
BAA News: Report of Foreign Issuer (6-k) 11/24/2017 06:04:19 AM
PostSubject
#62795  Sticky Note Banro Provides Corporate Update 11.13.2017 captainscotty 11/13/17 12:24:38 PM
#63210   Because majority owned by three large stakeholders. StockItOut 12/14/17 03:44:47 AM
#63209   Possibly. By who/what? And why not already at $.11s? StockItOut 12/14/17 03:40:17 AM
#63208   #BAA: Would be bought out before that... captainscotty 12/13/17 04:11:17 AM
#63207   Mngt not releasing earnings report. BAA.TO halted. StockItOut 12/13/17 04:00:31 AM
#63206   Or $0.03s. StockItOut 12/13/17 03:55:15 AM
#63205   Wht happed to earning report 00tripleG 12/12/17 09:58:58 PM
#63204   #BAA: Double Bottom in...:-) Going back to the 0.30's...:-) captainscotty 12/12/17 08:12:19 PM
#63203   "The company said there is "significant risk" a chrislal 12/12/17 12:19:57 PM
#63202   Looks headed higher. History of dumping all gains. StockItOut 12/11/17 09:54:35 PM
#63201   #BAA: Whales loading for the ride North..:-) Nice captainscotty 12/11/17 05:55:34 PM
#63200   Ref: StockItOut chrislal 12/07/17 04:39:18 PM
#63199   That would be fun, and interesting. Commendation StockItOut 12/07/17 04:31:08 PM
#63198   Ref: StockItout chrislal 12/06/17 12:49:08 PM
#63197   #BAA: Getting Tasty again...:-} 0.14 captainscotty 12/06/17 07:30:14 AM
#63196   That's a good question to have asked. Answer StockItOut 12/06/17 12:31:20 AM
#63195   Ref: StockItOut chrislal 12/05/17 10:11:47 PM
#63194   Thank you. StockItOut 12/05/17 06:29:21 PM
#63193   Ref: StockItOut chrislal 12/05/17 04:09:55 PM
#63192   I do wonder if there is larger play StockItOut 12/05/17 03:53:11 PM
#63191   Ref: StockItOut chrislal 12/05/17 03:40:57 PM
#63190   Thanks chrislal. Answer to your question of course StockItOut 12/05/17 03:32:31 PM
#63189   Ref: StockItOut and BAA_Up chrislal 12/05/17 03:09:03 PM
#63188   Kpisme Only 2 cents remained from the 200% increase. BAA_Up 12/05/17 02:24:49 PM
#63187   Banro, or BAA also falls without gold falling. BAA_Up 12/05/17 01:11:55 PM
#63186   Gold slides to four-month lows as sentiment stays bearish kpisme 12/05/17 12:53:25 PM
#63185   Put up or shut up. What's your DD? StockItOut 12/05/17 09:57:00 AM
#63184   Definitely that is what I encourage. Do kpisme 12/05/17 09:49:33 AM
#63183   RED IS THE NEW GREEN. BIG SHLONG. StockItOut 12/05/17 09:48:07 AM
#63182   .15s StockItOut 12/05/17 09:44:44 AM
#63181   responding to phone calls and messages is pretty trunkmonk 12/05/17 06:34:14 AM
#63180   Thank you very much for sharing your information. BAA_Up 12/04/17 11:55:40 PM
#63179   Nice work Christal! And unannounced too. StockItOut 12/04/17 10:54:09 PM
#63178   Ref: MsCoffeenut333 chrislal 12/04/17 06:43:28 PM
#63177   Everyone should always do their own DD. ALWAYS!!! MsCoffeenut333 12/04/17 06:40:10 PM
#63176   Ref: StockItOut chrislal 12/04/17 05:19:28 PM
#63175   DUMB LONG OLD SHORTS BRIGHTER RED StockItOut 12/04/17 12:20:57 PM
#63174   Same O OLD NEWS for the SHORTS. kpisme 12/04/17 09:40:10 AM
#63173   $BAA Reverse Split 05/24/17 Banro Corp Stock Split MazelTov 12/02/17 07:23:14 PM
#63172   Up 16.5% for the day is not "fallen" StockItOut 12/02/17 05:15:41 AM
#63171   Always the same o o ld story, to BAA_Up 12/01/17 07:16:51 PM
#63170   Same O OLD NEWS for the SHORTS. kpisme 12/01/17 03:30:37 PM
#63169   That was some quick n easy money Tdash 12/01/17 10:19:05 AM
#63168   Hello pop Awl416 12/01/17 10:17:37 AM
#63167   snapNpop Post # 63166 chrislal 12/01/17 08:26:55 AM
#63166   Thx chrislal, I look forward to any info snapNpop 12/01/17 06:36:53 AM
#63165   Thanks, I already posted this. BAA_Up 11/30/17 10:28:33 PM
#63164   Banro Corporation ("Banro" or the "Company") (NYSE American: MazelTov 11/30/17 09:47:46 PM
#63163   Thanks, agree 100 %, very well explained BAA_Up 11/30/17 05:35:02 PM
#63162   Thanks StockItOut. chrislal 11/30/17 05:23:58 PM
#63161   Makes sense, I respect your game plan. Good luck. StockItOut 11/30/17 05:21:46 PM
PostSubject