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Banro Corp. (BAA)

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Last Post: 3/27/2017 2:59:38 PM - Followers: 337 - Board type: Free - Posts Today: 5

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) 03/08/2017 11:57:30 AM
BAA News: Application for Qualification of Trust Indentures (t-3) 03/03/2017 04:55:50 PM
BAA News: Report of Foreign Issuer (6-k) 02/28/2017 06:56:46 PM
BAA News: Report of Foreign Issuer (6-k) 02/14/2017 07:35:40 AM
BAA News: Statement of Beneficial Ownership (sc 13d) 02/10/2017 04:44:15 PM
PostSubject
#59537  Sticky Note February 24, 2017 BAA_Up 02/25/17 11:02:11 AM
#59889   Ok, thanks ! BAA_Up 03/27/17 02:59:38 PM
#59888   Nice trade! Dollar now has large gap StockItOut 03/27/17 11:26:47 AM
#59887   Interesting Gold and BAA related up-to-date news from REUTERS: JJ8 03/27/17 08:56:26 AM
#59886   Trump and the fight with the republicans about BAA_Up 03/27/17 02:56:28 AM
#59885   for sio BAA_Up 03/27/17 02:45:26 AM
#59882   It look likes its holding up well.. PyschoNoobStock 03/24/17 09:39:09 PM
#59880   iHub daily chart shows $.14 BAA open today, StockItOut 03/24/17 09:16:00 PM
#59877   When I get it conformed from the company BAA_Up 03/24/17 03:23:57 PM
#59876   They probably figure that we will all be N4longterm 03/24/17 02:31:13 PM
#59875   That is next week. Day of recapitalization meeting. StockItOut 03/24/17 02:06:41 PM
#59874   Now I got 3 31 17 for earnings, BAA_Up 03/24/17 02:04:23 PM
#59873   $985, not $987.00! Trade Well! keyotee 03/23/17 11:59:39 PM
#59872   Apparently neither is trading. keyotee 03/23/17 09:45:12 PM
#59871   underwater sports were never my thing, but if trunkmonk 03/23/17 06:18:57 PM
#59870   kpisme, thanks. BAA_Up 03/23/17 04:49:53 PM
#59869   Roger that, I am a buyer not a seller. kpisme 03/23/17 03:51:43 PM
#59868   Correction , they are not only under water, BAA_Up 03/23/17 02:25:17 PM
#59867   Sorry Sio, this is my English. Not underway. BAA_Up 03/23/17 02:05:18 PM
#59866   ? StockItOut 03/23/17 12:40:28 PM
#59865   Good one. StockItOut 03/23/17 12:39:42 PM
#59864   under water is good, there is a Deep Sea BAA_Up 03/23/17 11:17:59 AM
#59863   Thanks. Many here are under water with ThinkSustain 03/23/17 08:14:36 AM
#59862   The free market - like physics - is ThinkSustain 03/23/17 08:13:05 AM
#59861   Good post. Let's hope BAA's financial structure allows Noah_one 03/23/17 06:12:16 AM
#59860    Thoughts and prayers go out to all Londoners BAA_Up 03/23/17 06:10:42 AM
#59859   Disproportionate taxes, federally subsidized military complex, dirty toxic StockItOut 03/23/17 05:20:14 AM
#59858   Hopefully BAA will increase as well. In the BAA_Up 03/23/17 03:05:23 AM
#59857   The truth about the establishment is being exposed. ThinkSustain 03/23/17 02:16:31 AM
#59856   A correction seems in order, decent 6% to StockItOut 03/22/17 09:08:38 PM
#59855   Today the update of the LMP Indicator has JJ8 03/22/17 08:24:35 PM
#59854   Then maybe BAA would be less lagging than trunkmonk 03/22/17 12:34:16 PM
#59853   TeamToc Thanks for the doublecheck BAA_Up 03/22/17 10:24:03 AM
#59852   I agree with BAA_Up on Q4 ER next TeamTOC 03/22/17 10:17:06 AM
#59851   at this time BAA is trading like all BAA_Up 03/22/17 09:48:18 AM
#59850   Thanks N4longterm,I know, but I did not think BAA_Up 03/22/17 09:45:30 AM
#59849   This one is looking great and stable, time kpisme 03/22/17 09:14:35 AM
#59848   Most brokers show best guesses of release dates N4longterm 03/22/17 08:20:55 AM
#59847   Laurie Bahen could be the person replacing Martin BAA_Up 03/22/17 03:37:45 AM
#59846   JJ8 Hopefully, BAA has it's 'house in order' BAA_Up 03/22/17 03:25:37 AM
#59845   Buy rough rice. Before Keyotee corners the market. keyotee 03/22/17 01:48:30 AM
#59844   for sio, I think they must have announced BAA_Up 03/22/17 12:01:11 AM
#59843   Don’t worry about us Robin, it is good BAA_Up 03/21/17 11:44:17 PM
#59842   I got this info from my trader. But BAA_Up 03/21/17 11:33:08 PM
#59841   Keep drinking the cool aid, reassure yourselves that keyotee 03/21/17 09:18:56 PM
#59840   Things are now beginning to unravel. Hold on JJ8 03/21/17 05:27:10 PM
#59839   From where do you have this info? Thanks. StockItOut 03/21/17 03:33:17 PM
#59838   And my Yen is up with gold, happy hour BAA_Up 03/21/17 12:49:54 PM
#59837   I bought some more now. BAA_Up 03/21/17 12:41:50 PM
#59836   "I honestly don't think there is enough volume investorwisdom 03/21/17 09:46:52 AM
#59835   We need the CEO to play a greater investorwisdom 03/21/17 09:43:32 AM
PostSubject