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Banro Corp. (BAA)

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Last Post: 5/23/2017 1:52:32 AM - Followers: 338 - 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
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BAA News: Report of Foreign Issuer (6-k) 05/22/2017 06:02:14 AM
BAA News: Report of Foreign Issuer (6-k) 05/16/2017 06:03:40 AM
BAA News: Report of Foreign Issuer (6-k) 05/10/2017 08:04:48 AM
BAA News: Statement of Ownership (sc 13g) 05/09/2017 10:17:35 AM
BAA News: Report of Foreign Issuer (6-k) 05/01/2017 04:17:29 PM
News News Alert: Report of Foreign Issuer (6-k) 05/22/2017 06:02:14 AM
PostSubject
#60530  Sticky Note https://www.banro.com/news-events/news-releases/banro-announces-q1-2017-financia nagoya1 05/15/17 09:08:43 PM
#60081  Sticky Note Banro Corporation _19 04/07/17 09:27:22 AM
#60694   Reverse announced a strong positive. StockItOut 05/23/17 01:52:31 AM
#60693   Yeah, that sounds about right per AMEX requirements. StockItOut 05/23/17 01:05:16 AM
#60692   I just looked back to the PR from TeamTOC 05/22/17 09:23:36 PM
#60691   I'm pretty sure to regain compliance it is TeamTOC 05/22/17 08:57:47 PM
#60690   I thought listing requirement was $50M minimum, and StockItOut 05/22/17 08:51:51 PM
#60689   I agree, it is good news...if it holds TeamTOC 05/22/17 08:48:40 PM
#60688   Share Consolidation is good news for BAA. StockItOut 05/22/17 08:41:59 PM
#60687   Finally got our R/S news. 10:1. Question now TeamTOC 05/22/17 08:21:45 PM
#60686   10:1 RS Zeroze2002 05/22/17 08:21:18 PM
#60685   Yes Zeroze2002 05/22/17 08:20:11 PM
#60684   No! keyotee 05/22/17 07:56:43 PM
#60683   Simple gap-up filling top of previous gap only. StockItOut 05/22/17 06:57:38 PM
#60682   key about to go long? is that the Flycanuck 05/22/17 06:57:26 PM
#60681   the price of the big guys ( ie. Flycanuck 05/22/17 06:04:58 PM
#60680   0.10 is here, all in yet or dabbling? Flycanuck 05/22/17 06:00:35 PM
#60679   Hey CM, did you act and add? Flycanuck 05/22/17 05:22:55 PM
#60678   0.0925 UP 0.0075 (8.82%) kpisme 05/22/17 05:16:52 PM
#60677   BAA is paper, represented by more paper: Dollars. StockItOut 05/22/17 04:53:38 PM
#60676   Well..! You keep getting better! You've now added StockItOut 05/22/17 04:33:06 PM
#60675   Fair enough ThinkSustain 05/22/17 03:28:16 PM
#60674   You are right. I emailed IR to ThinkSustain 05/22/17 03:27:15 PM
#60673   If we were to sit and have a StockItOut 05/22/17 03:24:45 PM
#60672   Maybe the bottom for BAA - looking good. ThinkSustain 05/22/17 03:17:54 PM
#60671   This board is wild. Everyone is arguing JohnMo 05/22/17 03:09:52 PM
#60669   Logically you can take the total number of kpisme 05/22/17 02:06:15 PM
#60668   No confusion here. StockItOut 05/22/17 01:59:09 PM
#60667   There seems to be a lot of confusion ThinkSustain 05/22/17 01:57:51 PM
#60664   Well, they have to be worth at least ThinkSustain 05/22/17 01:50:57 PM
#60663   Shows you how inflated and widely (too) available StockItOut 05/22/17 01:47:49 PM
#60662   Oh... share price... StockItOut 05/22/17 01:43:48 PM
#60661   ;-) StockItOut 05/22/17 01:17:57 PM
#60660   Is there a consensus? Is this the bottom ThinkSustain 05/22/17 11:04:31 AM
#60659   What is the share price of the miners ThinkSustain 05/22/17 11:03:04 AM
#60658   Don't waste your breath on snowflakes. They ThinkSustain 05/22/17 10:57:52 AM
#60657   Will there be a reverse split for BAA? ThinkSustain 05/22/17 10:51:18 AM
#60656   Put up or shut up? kpisme 05/22/17 10:51:15 AM
#60655   "BAA does it the best for the price." StockItOut 05/22/17 10:33:16 AM
#60654   I do not think you're an idiot, but BAA_Up 05/22/17 09:53:25 AM
#60653   2 mines and plenty of room for a kpisme 05/22/17 09:46:14 AM
#60652   Screw the worthless paper dollar, might as well kpisme 05/22/17 09:41:58 AM
#60651   There is no evidence to see! it kpisme 05/22/17 09:39:30 AM
#60650   What? Do some DD and you won't kpisme 05/22/17 09:35:47 AM
#60649   So many variables,when I read this,it almost reminds bcraig1688 05/22/17 08:49:04 AM
#60648   Only if the yen really rises, gold also BAA_Up 05/22/17 08:13:59 AM
#60647   Seeing makes knowledge. BAA_Up 05/22/17 08:06:05 AM
#60646   Losers average losers! keyotee 05/22/17 12:53:27 AM
#60645   Get it, thanks. StockItOut 05/22/17 12:39:20 AM
#60644   That just means that when dollars go up DownWithPumpers 05/21/17 08:07:00 PM
#60643   Unfortunately I bought a bit more on the Dibbs 1 05/21/17 04:00:20 PM
#60642   You told me dollar up, gold n oil StockItOut 05/21/17 01:23:58 PM
PostSubject