Home > Boards > US Listed > Mining/Resources >

Banro Corp. (BAA)

Add BAA Price Alert      Hide Sticky   Hide Intro
Moderator: trunkmonk
Search This Board: 
Last Post: 3/24/2018 6:36:51 PM - Followers: 316 - 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


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

(g/t Au)
Proven 6.21 2.19 0.44
Probable 21.47 2.01 1.39
Total Proven & Probable 27.67 2.05 1.82
Proven 17.90 2.10 1.21
Probable 3.04 1.53 0.15
Total Proven & Probable 20.94 2.02 1.36
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


(g/t Au)
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
Inferred (Surface) 4.14 2.40 0.32
Inferred (Underground) 3.12 6.00 0.60
TOTAL INFERRED 93.29 1.70 5.08





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

Current Price
Bid Ask Day's Range
  • 1D
  • 1M
  • 2M
  • 3M
  • 6M
  • 1Y
  • 2Y
  • 3Y
  • 5Y
BAA News: Report of Foreign Issuer (6-k) 03/12/2018 10:50:20 AM
BAA News: Banro Announces Support for Recapitalization Plan 03/09/2018 03:32:00 PM
BAA News: Report of Foreign Issuer (6-k) 03/06/2018 01:28:37 PM
BAA News: Banro Announces Intention to Proceed with Recapitalization Plan 03/05/2018 08:12:00 AM
BAA News: Report of Foreign Issuer (6-k) 02/20/2018 01:20:23 PM
PlusOneCoin Top Posts
No plusone'd posts yet. Be the first!
#63495   Not sure how relevant this is but did Elevation 03/24/18 06:36:51 PM
#63494   No comment on last question. My point Elevation 03/24/18 06:34:05 PM
#63493   Probably want to wait for their Answer to StockItOut 03/24/18 03:17:15 PM
#63492   Something else to ponder. The judge, jury, and Elevation 03/24/18 01:38:33 PM
#63491   They were never upfront with shareholders, what they trunkmonk 03/24/18 10:07:13 AM
#63490   Public telegraphing? Who is going to care, maybe? StockItOut 03/23/18 11:59:20 PM
#63489   I get the fact couple million JPM threw ANV2 03/23/18 11:38:00 PM
#63488   That’s funny. StockItOut 03/23/18 11:06:09 PM
#63487   You know link or have access to the Complaint? StockItOut 03/23/18 11:04:46 PM
#63486   Would be nice to see Banro/Baiyin/Gramercy lose this one. StockItOut 03/23/18 11:03:04 PM
#63485   $6M is peanuts, no? Banro was so StockItOut 03/23/18 10:53:42 PM
#63484   Yes, planned ownership and wealth transfer. StockItOut 03/23/18 10:52:38 PM
#63483   It’s call scratch my dollar I’ll scratch yours. StockItOut 03/23/18 10:48:50 PM
#63482   Hey, thanks. StockItOut 03/23/18 10:41:49 PM
#63481   You can't spell BeRNie mAdOff without using the Elevation 03/23/18 05:37:16 PM
#63480   Banro mgmt till the end! We are in Elevation 03/23/18 02:37:40 PM
#63479   Kind of insulting to JPM. They are ANV2 03/22/18 07:39:14 PM
#63478   Eventually. All those promises, all those fuzzy write trunkmonk 03/22/18 07:11:17 AM
#63477   Simple, tax write-off. snapNpop 03/22/18 06:20:16 AM
#63476   So the question is, where is JPM? ANV2 03/21/18 08:03:02 PM
#63475   Can also understand ones lack of sense of Elevation 03/21/18 03:43:24 PM
#63474   He's being silly. You gotta respect and appreciate Elevation 03/21/18 02:37:38 PM
#63473   Why would THEY make it public, not to kpisme 03/21/18 09:43:47 AM
#63472   Banro mngt to the end: no public announcement StockItOut 03/21/18 09:08:20 AM
#63471   Yeah but, kpisme 03/19/18 05:00:48 PM
#63470 captainscotty 03/19/18 03:34:53 PM
#63469   Wrong sense of evil and vindication. Maybe StockItOut 03/16/18 12:52:24 PM
#63468   Here come the clown acts. People just can’t trunkmonk 03/16/18 06:52:48 AM
#63467   LOL!! StockItOut 03/15/18 07:30:57 PM
#63466   You forgot one. Elevation 03/15/18 07:29:52 PM
#63465   “They’re allowed to do that?” StockItOut 03/15/18 07:25:31 PM
#63464   Old news? When was Complaint filed? StockItOut 03/15/18 07:21:14 PM
#63463   There it is! Congrats Llepard. StockItOut 03/15/18 07:18:41 PM
#63462   Like the new robots? StockItOut 03/15/18 07:12:48 PM
#63461   What’s your BAA buy-in price average? $1.50 to StockItOut 03/15/18 07:10:57 PM
#63460   Word is that banros response to this was Elevation 03/14/18 10:58:51 PM
#63459   Old news Elevation 03/14/18 10:56:25 PM
#63458   Good to hear they have to explain themselves. MemoryLeaks 03/14/18 05:26:48 PM
#63457   US investors should Testify. kpisme 03/14/18 05:13:14 PM
#63456   I think we have a chance, been a trunkmonk 03/14/18 03:58:32 PM
#63455   Class action lawsuit against Banro, good job guys. ANV2 03/14/18 03:46:10 PM
#63454   Please they have enough worries then dealing with ..... kpisme 03/14/18 11:30:53 AM
#63453   Thanks I try to limit my involvement with kpisme 03/14/18 11:29:11 AM
#63452   Thought about doing so, yet figured might as StockItOut 03/14/18 02:07:07 AM
#63451   Then ask Banro mgmt why that happened Elevation 03/14/18 01:16:26 AM
#63450   Okay, curious to find out more. Banro’s StockItOut 03/13/18 03:39:37 PM
#63449   Then he should answer and speak for himself. StockItOut 03/13/18 03:38:24 PM
#63448   He wasn't cracking a joke Elevation 03/13/18 01:59:01 PM
#63447   Incorrect. I said I know nothing that I Elevation 03/13/18 01:58:07 PM
#63446   lol wow 3-Stooges-Nyuk-Nyuk-Nyuk 03/12/18 12:55:25 PM