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Banro Corp. (BAA)

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Last Post: 12/2/2016 4:59:40 PM - Followers: 349 - Board type: Free - Posts Today: 25

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) 11/08/2016 11:10:29 AM
BAA News: Report of Foreign Issuer (6-k) 11/08/2016 06:04:13 AM
BAA News: Report of Foreign Issuer (6-k) 11/01/2016 03:34:52 PM
BAA News: Report of Foreign Issuer (6-k) 10/11/2016 04:03:27 PM
BAA News: Report of Foreign Issuer (6-k) 09/16/2016 04:38:37 PM
PostSubject
#58015  Sticky Note Companies' Creditors Arrangement Act Congo Mining 12/01/16 04:39:54 PM
#57948  Sticky Note They are not going to BK... Congo Mining 11/30/16 07:21:43 PM
#57791  Sticky Note A post I made today on a different baystock1 11/26/16 03:46:08 PM
#58045   Sounds like a broken record.Enjoying my wagyu beef Masterview 12/02/16 04:59:40 PM
#58044   Yes, remove all the posts except those which keyotee 12/02/16 04:24:28 PM
#58043   Yeah, with you and k. Congo Mining 12/02/16 02:32:44 PM
#58042   CM, you removing all the posts? StockItOut 12/02/16 02:08:55 PM
#58040   Maybe you included it in there, and maybe fazlice 12/02/16 08:35:26 AM
#58019   Baa is getting ready to bounce. nagoya1 12/01/16 08:21:56 PM
#58018   We're two months into Q4 genius. Congo Mining 12/01/16 06:11:35 PM
#58017   Still hoLding this???? Supposed longs wants to make Masterview 12/01/16 05:56:09 PM
#58015   Companies' Creditors Arrangement Act Congo Mining 12/01/16 04:39:54 PM
#58014   https://en.wikipedia.org/wiki/Companies'_Creditors_Arrangement_Act Congo Mining 12/01/16 04:39:06 PM
#58012   How's that? Would have it been better for badge0913 12/01/16 04:36:43 PM
#58010   Thanks, I'll take a look for sure. goldismoney1 12/01/16 04:19:08 PM
#58009   Well...this has always been a boom of bust Congo Mining 12/01/16 04:17:08 PM
#58008   You lay it out well; cash flow, quarterly StockItOut 12/01/16 04:12:25 PM
#58007   Unless you are referring to a children book, nagoya1 12/01/16 04:09:00 PM
#58006   Baa still held up today. nagoya1 12/01/16 04:07:55 PM
#58005   "Discussions with our major financial partners on refinancing Noah_one 12/01/16 04:07:23 PM
#58004   When it gets to a point where we uncle jessie 12/01/16 04:00:00 PM
#58003   It would have been nice to see it goldismoney1 12/01/16 03:40:09 PM
#58002   Dit is geen SFXE stallion. Groenspaan 12/01/16 03:38:25 PM
#58001   Tss Groenspaan 12/01/16 03:36:55 PM
#58000   "Discussions with our major financial partners on refinancing Congo Mining 12/01/16 03:35:11 PM
#57999   Not at all. I didn't neglect any of this. bostonseb 12/01/16 03:14:30 PM
#57998   Ran out off posts mastervieuw? Lollll Volcane 12/01/16 02:44:43 PM
#57997   Lots of valuable insight on the board lately! goldismoney1 12/01/16 02:28:49 PM
#57996   Next Chapter: Up! StockItOut 12/01/16 02:25:29 PM
#57995   Chapter 11 next? Or chapter 7 stallion 12/01/16 02:18:43 PM
#57994   Run from this POS like forrest gump stallion 12/01/16 02:18:11 PM
#57993   .13$$ coming faster then you think stallion 12/01/16 02:17:34 PM
#57992   Holy molyyy Sell and run stallion 12/01/16 02:17:05 PM
#57991   That should be all she wrote , watch keyotee 12/01/16 11:37:38 AM
#57990   Oh my, when vagueness turns to darkness as keyotee 12/01/16 11:19:15 AM
#57989   Precisely what boston neglects to equate. StockItOut 12/01/16 10:08:08 AM
#57988   never!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!Read me! BAA_Up 12/01/16 09:38:10 AM
#57987   Lol - you turned bear now too? fazlice 12/01/16 09:32:05 AM
#57985   this is not off topic BAA_Up 12/01/16 09:05:10 AM
#57984   Don and Dai BAA_Up 12/01/16 09:03:00 AM
#57982   You do realize that they don't need to TeamTOC 12/01/16 07:54:37 AM
#57979   buy Donald buy, and daisy, buy ! BAA_Up 12/01/16 07:24:14 AM
#57978   Sell Donald sell.....this going to be very nasty. Masterview 12/01/16 07:10:05 AM
#57977   Ooooh Myyyyy, still no refinancing? Bankruptcy coming closer Masterview 12/01/16 07:00:44 AM
#57976   kpisme good post BAA_Up 12/01/16 05:33:04 AM
#57974   I got answers... like very early... BAA_Up 12/01/16 05:08:58 AM
#57972   And that was better than very good BAA_Up 12/01/16 04:50:33 AM
#57970   Yum. Right you are. StockItOut 12/01/16 04:35:58 AM
#57969   I think mngt does a good job mining StockItOut 12/01/16 04:31:52 AM
#57968   Thats very good BAA_Up 12/01/16 04:29:46 AM
#57967   I believe Banro will BK StockItOut 12/01/16 04:15:14 AM
#57966   Yeah, noticed this. StockItOut 12/01/16 04:08:18 AM
#57965   GDX sure looks like strong set-up for the upside. StockItOut 12/01/16 04:05:16 AM
PostSubject