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Banro Corp. (BAA)

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Last Post: 1/17/2018 11:12:13 PM - Followers: 321 - Board type: Free - Posts Today: 0

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) 01/11/2018 04:25:35 PM
BAA News: Banro Announces Q4 2017 Production Results 01/10/2018 05:59:00 PM
BAA News: (25-NSE) 01/10/2018 01:30:04 PM
BAA News: Report of Foreign Issuer (6-k) 01/09/2018 12:39:01 PM
BAA News: Amended Statement of Ownership (sc 13g/a) 01/09/2018 10:54:32 AM
PostSubject
#62795  Sticky Note Banro Provides Corporate Update 11.13.2017 captainscotty 11/13/17 12:24:38 PM
#63368   Everything already known. Except “The Monitor can provide StockItOut 01/17/18 11:12:13 PM
#63367   All, I emailed Banro earlier requesting information for us Mike_2018 01/17/18 09:07:36 PM
#63366   All, I emailed Banro earlier requesting information for us Mike_2018 01/17/18 09:04:53 PM
#63364   What you need a judge for? You're LONG-n-STRONG! StockItOut 01/17/18 01:04:41 PM
#63363   Thanks for posting. You're right, decent numbers considering. StockItOut 01/14/18 09:05:25 PM
#63362   It’s a shame the company was run into MemoryLeaks 01/12/18 08:43:19 PM
#63361   Robinhood now doesn't show the values or the Mr Congo 01/11/18 09:30:02 PM
#63360   Yeah, you’re welcome. StockItOut 01/09/18 06:16:51 PM
#63359   Thank you for the timely replay! bullforever 01/09/18 05:49:24 PM
#63358   Well, doesn’t happen until it happens. StockItOut 01/09/18 05:39:17 PM
#63357   Now, we think BAA is zero already, or bullforever 01/09/18 05:35:31 PM
#63356   Does Shotgun work for Gramercy or BAA? A Elevation 01/07/18 10:17:12 PM
#63355   Yup StockItOut 01/07/18 02:43:05 AM
#63354   we all rode the wrong horse and it shotgun 01/06/18 10:24:05 PM
#63353   Who was wrong at the end? BAA 10 Masterview 01/05/18 05:49:21 PM
#63352   papawah, thanks for reply, I am not misunderstanding StockItOut 01/05/18 05:09:37 PM
#63351   Years ago means one thing to me, true trunkmonk 01/05/18 02:50:26 PM
#63350   Sorry, but I warned everyone years ago when Museloser 01/05/18 12:43:06 PM
#63349   thanks alot bullforever 01/05/18 05:24:12 AM
#63348   If you are a common shareholder of Banro papawah 01/04/18 08:28:48 PM
#63345   I think you are misunderstanding my point. papawah 01/04/18 03:11:31 PM
#63343   If your BAA shares are nulified, that will StockItOut 01/04/18 02:53:54 PM
#63342   You might add the proposed FACT that the kpisme 01/04/18 10:13:03 AM
#63341   You should be banned due to complete ignorance kpisme 01/04/18 10:09:44 AM
#63340   Yes they are for real, I am for real. kpisme 01/04/18 10:08:12 AM
#63339   Insults that does seem to be the fortay kpisme 01/04/18 10:03:49 AM
#63338   My Guy? OUR Guy working for all stockholders. kpisme 01/04/18 09:55:41 AM
#63337   #BAA: Looks like operation have resumed...:-} So what! captainscotty 01/04/18 08:44:27 AM
#63336   #BAA:Looks like something will happen on 01-19-2018 captainscotty 01/04/18 08:35:37 AM
#63335   Does anybody know if BAA will reopen, I bullforever 01/04/18 07:22:15 AM
#63334   File the case, and do the discovery during StockItOut 01/04/18 03:02:29 AM
#63333   "if Gramercy does the right thing...?" Are StockItOut 01/04/18 02:56:21 AM
#63332   What does that mean, "...the feedback from his StockItOut 01/04/18 02:50:29 AM
#63331   Precisely! StockItOut 01/04/18 02:42:31 AM
#63330   Your guy is simply into other different "money StockItOut 01/04/18 02:33:47 AM
#63329   There have been dozens if not hundreds of papawah 01/03/18 09:28:19 PM
#63328   Is there any chance that we get at Mike_2018 01/03/18 07:43:56 PM
#63327   Actually, if Gramercy does the right thing, it Elevation 01/03/18 05:42:20 PM
#63326   If lawyers are involved, they will get 1/3 Elevation 01/03/18 05:17:21 PM
#63325   You can contact Lawrence at llepard@ema2.com, he can papawah 01/03/18 04:58:27 PM
#63324   Give me a name, I have lots of trunkmonk 01/03/18 02:31:15 PM
#63323   Yep. Know alot of things. One of them Elevation 01/03/18 01:15:28 PM
#63322   I’m sure u know something right? trunkmonk 01/03/18 12:46:55 PM
#63321   Ref: trunkmonk chrislal 01/03/18 12:16:38 PM
#63320   Nothing will happen huh? That's funny trunk monk. Elevation 01/03/18 12:10:35 PM
#63319   There was no speculation here, the company didn’t trunkmonk 01/03/18 11:58:04 AM
#63318   Millions in dollars lost. I don't think so. kpisme 01/03/18 11:49:21 AM
#63317   Nothing will happen, just a bunch of shareholders trunkmonk 01/03/18 11:43:20 AM
#63316   Banro announced today that they are re-opening Namoya papawah 01/03/18 10:29:47 AM
#63315   Ref: Elevation chrislal 01/03/18 10:11:42 AM
PostSubject