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Banro Corp. (BAA)

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Last Post: 7/24/2017 6:27:52 PM - Followers: 334 - Board type: Free - Posts Today: 32

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) 07/17/2017 05:22:05 PM
BAA News: Report of Foreign Issuer (6-k) 07/07/2017 05:05:04 PM
BAA News: Report of Foreign Issuer (6-k) 07/06/2017 04:18:42 PM
BAA News: Report of Foreign Issuer (6-k) 07/05/2017 06:07:26 AM
BAA News: Report of Foreign Issuer (6-k) 07/05/2017 06:04:57 AM
PostSubject
#61482  Sticky Note Banro Reports Resumption of Operations at Namoya Mine BAA_Up 07/06/17 05:39:19 PM
#61425  Sticky Note trunkmonk Please exchange the sticky news. This BAA_Up 07/04/17 04:21:05 AM
#61640   Giving mngt credit, they abated the affects of StockItOut 07/24/17 06:27:52 PM
#61639   I appreciate your conviction. StockItOut 07/24/17 06:12:21 PM
#61638   Why do not you apply to Banro. As BAA_Up 07/24/17 06:05:51 PM
#61637   But they did not say it was safe. BAA_Up 07/24/17 05:53:50 PM
#61636   Well stated. Mngt misleading. No doubt. StockItOut 07/24/17 05:43:56 PM
#61635   I thought that too. BAA_Up 07/24/17 04:53:41 PM
#61634   Unless POG goes WAY NORTH in the next badge0913 07/24/17 04:44:52 PM
#61633   I will say .. you're a BIGGER man badge0913 07/24/17 04:25:29 PM
#61632   Nice to see some are wise enough to kpisme 07/24/17 04:16:47 PM
#61631   I know .. was hoping it would catch badge0913 07/24/17 04:08:20 PM
#61630   Looks like I'll need to do some creative badge0913 07/24/17 03:58:05 PM
#61629   I can only imagine what the Q2 financials badge0913 07/24/17 03:53:16 PM
#61628   I agree Team .. I knew the risk. badge0913 07/24/17 03:51:33 PM
#61627   I just filed a complaint on the www.SEC.gov TeamTOC 07/24/17 03:42:59 PM
#61626   I have it email correspondence as well. Total badge0913 07/24/17 03:36:40 PM
#61625   To me .. its as if they just badge0913 07/24/17 03:34:58 PM
#61624   Martin told me this on the phone. BAA_Up 07/24/17 03:30:42 PM
#61623   Yeah, just like Badge said. Almost seems TeamTOC 07/24/17 03:20:03 PM
#61622   How do you like that? Thinking similarly. StockItOut 07/24/17 03:18:57 PM
#61621   Hear that Stock. badge0913 07/24/17 03:18:41 PM
#61620   Yeah, I hear you. Always seemed to TeamTOC 07/24/17 03:17:58 PM
#61619   Team, it has been a ride and adventure. StockItOut 07/24/17 03:15:30 PM
#61618   Good luck to you Team. badge0913 07/24/17 03:12:39 PM
#61617   It's a shame. Management lied! Flat out. StockItOut 07/24/17 03:09:27 PM
#61616   We're at .04-.05 as predicted. Strong chance 'o .03s. StockItOut 07/24/17 03:08:09 PM
#61615   Me too. Hard sell for me too TeamTOC 07/24/17 03:06:19 PM
#61614   I'm all out .. financial report will be badge0913 07/24/17 02:54:55 PM
#61613   These news come on August 10, with the BAA_Up 07/24/17 02:26:51 PM
#61612   Baa, not good. Down 6% with no news trunkmonk 07/24/17 02:06:05 PM
#61611   Near 7/8th of the pattern is complete. Look StockItOut 07/24/17 01:58:09 PM
#61610   Yes, as expected, Well said! keyotee 07/24/17 01:45:08 PM
#61609   Doesn't seem to be going that way. badge0913 07/24/17 09:05:33 AM
#61608   You should have listen to Keyotee! keyotee 07/23/17 02:05:26 AM
#61607   Get out! keyotee 07/23/17 02:04:50 AM
#61606   This company is a farce! keyotee 07/23/17 02:04:28 AM
#61605   I still do not know how I became BAA_Up 07/21/17 11:04:53 PM
#61604   You were not alone with the lessons. BAA_Up 07/21/17 05:42:38 PM
#61603   Chcck this out. Posted July 14th, 2017. StockItOut 07/21/17 01:13:36 AM
#61602   Your suggestion, bro. Taking back your 'advice?' StockItOut 07/20/17 11:48:20 PM
#61601   I always try to learn from bad experiences jbolan 07/20/17 09:05:14 PM
#61600   Still waiting for POG under $1000 .. LOL. badge0913 07/20/17 07:31:28 PM
#61599   Uh oh ... JohnCM 07/20/17 07:28:20 PM
#61598   Not enough misleaded by him? Masterview 07/20/17 03:14:54 PM
#61597   I think he means Martin's current contact information StockItOut 07/20/17 01:50:01 PM
#61596   Like he talked to him? Im sure everything trunkmonk 07/20/17 01:46:51 PM
#61595   You have Martin's number? Email? Address? StockItOut 07/20/17 01:30:05 PM
#61594   How many times I warned this Prozac users???? Masterview 07/20/17 10:51:29 AM
#61593   Oh bother. Not quite "help" though sometimes, yes. StockItOut 07/20/17 02:39:01 AM
#61592   Yes, of course you wrote the best analyzes. BAA_Up 07/20/17 12:51:30 AM
#61591   I have warned with many facts, which you keyotee 07/20/17 12:37:46 AM
PostSubject