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Banro Corp. (BAA)

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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) 04/20/2017 06:03:24 AM
BAA News: Report of Foreign Issuer (6-k) 04/14/2017 06:03:28 AM
BAA News: Report of Foreign Issuer (6-k) 04/13/2017 06:07:17 AM
BAA News: Report of Foreign Issuer (6-k) 04/11/2017 12:05:10 PM
BAA News: Report of Foreign Issuer (6-k) 04/07/2017 01:11:10 PM
PostSubject
#60203  Sticky Note April 19, 2017 BAA_Up 04/19/17 05:35:54 PM
#60081  Sticky Note Banro Corporation _19 04/07/17 09:27:22 AM
#60220   blackandgold Thank you for the link i watch BAA_Up 04/23/17 03:22:03 PM
#60219   keiser shares some thoughts on the current gold blackandgold 04/23/17 09:09:01 AM
#60218   The best mine on my Streamer, for now BAA_Up 04/21/17 11:42:13 AM
#60217   Thanks for postin that BAA_Up 04/21/17 11:24:31 AM
#60216   I was very diligent. I also found my BAA_Up 04/21/17 10:33:13 AM
#60215   You could do some due diligence and probably kpisme 04/21/17 09:28:06 AM
#60214   As far as your "answers", OK. No kpisme 04/21/17 09:21:40 AM
#60213   I had wondered about the warrants, as there StockItOut 04/21/17 09:13:32 AM
#60212   ThinkSustain I miss the tip after it could BAA_Up 04/21/17 07:29:57 AM
#60211   Sorry kpisme BAA_Up 04/21/17 05:11:39 AM
#60210   kpisme I still owe you an answer to BAA_Up 04/21/17 04:13:24 AM
#60209   When the Chinese have enough gold to meet jt6455 04/20/17 12:36:57 PM
#60208   When will paper gold crash? ThinkSustain 04/20/17 11:58:58 AM
#60207   .20 no .50 coming THIS year at least.... kpisme 04/20/17 09:30:39 AM
#60206   I see the news, thanks. StockItOut 04/20/17 08:51:38 AM
#60205   It is through. See my posting BAA_Up 04/19/17 05:53:37 PM
#60204   Great news for longs! Tomorrow is the day TeamTOC 04/19/17 05:38:23 PM
#60203   April 19, 2017 BAA_Up 04/19/17 05:35:54 PM
#60202   I'm waiting for it. BAA_Up 04/19/17 03:09:36 PM
#60201   Mngt will announce, right? StockItOut 04/19/17 03:06:29 PM
#60200   And generally for alternative people outside the money BAA_Up 04/19/17 01:12:51 AM
#60199   For those who are interested ..... BAA_Up 04/19/17 12:54:37 AM
#60198   Gold is doing well for the moment BAA_Up 04/18/17 12:01:44 PM
#60197   Still gold as yesterday is traded is only BAA_Up 04/18/17 09:45:14 AM
#60196   Has anyone watched the pound? Nice increase despite Brexit BAA_Up 04/18/17 09:10:14 AM
#60195   What is off topic with this posting? BAA_Up 04/18/17 06:18:09 AM
#60193   Well, I am happy, I have done a BAA_Up 04/18/17 04:31:52 AM
#60192   Yes and I am afraid that with this BAA_Up 04/18/17 04:19:18 AM
#60191   I like that Barry McGuire track. StockItOut 04/18/17 04:18:34 AM
#60190   Banro intends 1% net profits to go to communities. StockItOut 04/18/17 04:16:14 AM
#60189   Thanks for the time of the reply BAA_Up 04/18/17 04:12:03 AM
#60188   Enjoy the rhythm of Chuck Berry, listen to BAA_Up 04/18/17 04:05:36 AM
#60186   Was actually thinking ' the same thing,' in StockItOut 04/18/17 03:43:48 AM
#60184   Thanks for the reply You seem to be BAA_Up 04/18/17 03:18:19 AM
#60183   I am a bit nervous about your stock BAA_Up 04/18/17 03:13:20 AM
#60182   Seems Dollar could still want 106, or higher, StockItOut 04/18/17 03:07:15 AM
#60181   Thanks , I promised to tell the board BAA_Up 04/18/17 02:42:52 AM
#60180   Appreciate the link .. seems things are looking better. badge0913 04/17/17 08:52:07 PM
#60179   "Canadian mining companies turn bullish on Congo, despite CrazyDonkey 04/17/17 08:34:53 PM
#60178   Nice StockItOut 04/17/17 01:13:20 PM
#60177   It's been approved by the court. It will occur. StockItOut 04/17/17 01:12:44 PM
#60176   Thanks badge...maybe this qtr will finally be turnaround theme_investor 04/17/17 11:20:40 AM
#60175   Email regarding Fine Crushers: badge0913 04/17/17 11:20:26 AM
#60174   Please copy email to the board if you Nicole1982 04/17/17 09:52:12 AM
#60173   RECEIVED WORD BACK ABOUT FINE CRUSHERS badge0913 04/17/17 09:20:57 AM
#60172   Hi sio, you can imagine that the financing BAA_Up 04/17/17 06:15:22 AM
#60171   In some days the YEN could be at BAA_Up 04/17/17 05:50:04 AM
#60170   Very wise! keyotee 04/16/17 11:39:37 AM
#60169   Very attentive, excellent board manager, BAA_Up 04/15/17 06:38:04 PM
#60168   On April 19th -- previous date extended one week. StockItOut 04/15/17 06:19:58 PM
PostSubject