Banro Corp. fka BAA

[Techamental Logic]

I received a response from Naomi Nemeth, VP Investor Relations at Banro. I saw you bought other securities. If you do have cash left now might be a good time to take a position. I very highly doubt that Banro is putting together a plan that is going to *hurt* the value of its stock.

She mixed her replies in with my questions. Below is copy and pasted word for word however I put her replies in bold italics so people can differentiate between what I wrote and what she wrote.

The third paragraph regarding GDXJ was my statement and she didn't address it...no reason for her to because it wasn't a question.

The last paragraph was again me making a statement which she didn't address.

Please see below. Apologies for brief answers – many email and calls requiring responses.

Hi Naomi –

It has been a rough few weeks for Banro. I’m still behind you guys and have averaged down instead of selling out. Are you guys planning on releasing an update prior to Q2 financials and do you know when you will report Q2 fins? I have a few questions regarding Banro’s assets.
We are working toward releasing news prior to the Q2 financials – early this week if possible with an update from the board of directors on a go-forward plan.

Does Banro still have an interest in the diamond mine discussed in the link below?
www.miningmx.com/news/gold_and_silver/547067.htm
There was no ‘mine’ but the right to explore for diamonds on Banro’s concession by the company which was BRC Diamonds (incorrectly named in the article). Banro has a very minor interest in this company’s successor which has little value at this point.

BAA is now in danger of being dropped by Market Vectors Junior Gold Miners ETF (GDXJ:NYSE).

Is Banro looking at selling an asset or doing a JV with a company that has cash? Are all options on the table or is Banro focused only on mining its way out of this?
All options are certainly on the table and under discussion by the board, including both that you mention as well as several others which could be available to the company.

The debt is really killing Banro. But Banro has a lot of assets and has only explored 12% of the land they have leases on. With the PPS so low I’m concerned that BAA could be delisted. I’m not very confident that Banro can mine its way out of this simply by refinancing again. Thanks for any information you can give.