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Banro Corp. (BAA)

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Last Post: 1/19/2017 8:12:30 PM - Followers: 345 - Board type: Free - Posts Today: 20

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) 01/12/2017 06:02:37 AM
BAA News: Report of Foreign Issuer (6-k) 01/03/2017 06:08:17 AM
BAA News: Report of Foreign Issuer (6-k) 11/08/2016 11:10:29 AM
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BAA News: Report of Foreign Issuer (6-k) 11/01/2016 03:34:52 PM
PostSubject
#57791  Sticky Note A post I made today on a different baystock1 11/26/16 03:46:08 PM
#58875   $BAA had $156m on the REV for 2015 myopinion 01/19/17 08:12:30 PM
#58874   $BAA next leg .26 myopinion 01/19/17 07:17:50 PM
#58873   The Dow had a P&F Double Bottom Breakdown, JJ8 01/19/17 05:16:38 PM
#58872   Seems the DOW is hitting lower highs and badge0913 01/19/17 04:28:32 PM
#58871   No accumulation line? MRJ25 01/19/17 03:05:46 PM
#58870   No itchy scratchie charts attached. StockItOut 01/19/17 01:17:13 PM
#58869   Interesting chart. Thank you, myopinion. Gave Member mark JJ8 01/19/17 01:15:48 PM
#58868   $BAA Ichimoku Daily & Weekly Chart w/Accum Line myopinion 01/19/17 12:36:25 PM
#58867   This makes sense , cant understand the whining BAA_Up 01/19/17 02:38:38 AM
#58866   Okay, yet totality is not one quarter's output StockItOut 01/19/17 02:23:46 AM
#58865   The only destroyers are those who sell BAA. StockItOut 01/19/17 02:05:32 AM
#58864   I expect so. StockItOut 01/19/17 02:04:42 AM
#58863   You've been the only one to suggest past tense. StockItOut 01/19/17 02:01:42 AM
#58862   Steady state target production for Namoya is 9k Congo Mining 01/19/17 02:01:16 AM
#58861   You have yet to explain what was rough StockItOut 01/19/17 01:55:47 AM
#58860   your help is asked on other boards, there BAA_Up 01/19/17 01:38:29 AM
#58859   As I have said ,the Dollar is the keyotee 01/19/17 01:31:01 AM
#58858   In spring 15 nobody was whining after the BAA_Up 01/19/17 01:19:20 AM
#58857   My scanners pulled up your referenced post, and keyotee 01/19/17 01:18:09 AM
#58856   Now we got it ! Good for the BAA_Up 01/19/17 01:08:04 AM
#58855   The last production report was pretty rough. That's Congo Mining 01/18/17 11:17:59 PM
#58854   Why? Every time they do, people whine N4longterm 01/18/17 10:17:00 PM
#58853   I agree 100% fazlice 01/18/17 08:59:47 PM
#58852   Mngt should issue a general notice of information. StockItOut 01/18/17 04:59:44 PM
#58851   Still here :) very anxious fazlice 01/18/17 04:19:18 PM
#58850   I expect rebound tomorrow, even into inAUGguration day, StockItOut 01/18/17 04:16:30 PM
#58849   Thank you for reiterating.. which those who are badge0913 01/18/17 04:02:13 PM
#58848   I thought the same thing. I wondered TeamTOC 01/18/17 04:02:03 PM
#58847   Looks like Gold is rolling over. StockItOut 01/18/17 04:00:44 PM
#58846   Remember, we have a strong shorting presence here, K. StockItOut 01/18/17 03:55:57 PM
#58845   I looked at Canadian Insider the other day TeamTOC 01/18/17 03:31:16 PM
#58844   Seems to me that some one might be fazlice 01/18/17 03:11:47 PM
#58843   Dang...there is another big dump...Still nice to see TeamTOC 01/18/17 02:51:28 PM
#58842   Nice post, CM. StockItOut 01/18/17 01:38:51 PM
#58841   Not only "Not everyone is in the same JJ8 01/18/17 01:26:23 PM
#58840   You did a smart thing Congo (given your badge0913 01/18/17 12:35:59 PM
#58839   Well, I remember in 2015 when they got Congo Mining 01/18/17 12:19:23 PM
#58838   We hope your participation and input will help JJ8 01/18/17 11:47:51 AM
#58837   It's hard to tell what's going on when theme_investor 01/18/17 10:37:43 AM
#58836   Trying to figure out what is up with TeamTOC 01/18/17 10:11:03 AM
#58835   CM, so you think they're going under. StockItOut 01/18/17 09:55:07 AM
#58834   haha. keep dreaming. See ya at .30 in myopinion 01/18/17 09:26:07 AM
#58833   The production report was not good.... Congo Mining 01/18/17 09:23:32 AM
#58832   Significant ? dvan 01/18/17 08:43:56 AM
#58831   I hope we will get the Bonus back BAA_Up 01/18/17 02:15:40 AM
#58830   Been following $BAA since 2006 when it was myopinion 01/17/17 11:04:39 PM
#58829   How long have you been following the company? Congo Mining 01/17/17 10:58:52 PM
#58828   $BAA http://investorshub.advfn.com/boards/read_msg.aspx?message_id=127934863 myopinion 01/17/17 10:30:57 PM
#58827   I hope you're right. Been here 3 years TeamTOC 01/17/17 09:57:10 PM
#58826   $BAA Daily Chart $Pistol Pete$ 01/17/17 09:56:45 PM
PostSubject