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Banro Corp. (BAA)

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Last Post: 8/17/2017 10:01:59 PM - Followers: 332 - 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) 07/28/2017 05:23:47 PM
BAA News: Report of Foreign Issuer (6-k) 07/17/2017 05:22:05 PM
BAA News: Report of Foreign Issuer (6-k) 07/07/2017 05:05:04 PM
BAA News: Report of Foreign Issuer (6-k) 07/06/2017 04:18:42 PM
BAA News: Report of Foreign Issuer (6-k) 07/05/2017 06:07:26 AM
PostSubject
#61482  Sticky Note Banro Reports Resumption of Operations at Namoya Mine BAA_Up 07/06/17 05:39:19 PM
#62053   Is there any upside potential of BAA? Can binarysolar 08/17/17 10:01:59 PM
#62052   Another terrible day for a shareholder. Pretty surprised MemoryLeaks 08/17/17 06:37:58 PM
#62051   I have posted this companies fate for years keyotee 08/17/17 05:10:01 PM
#62050   #BAA: Looking to catch that knife...$0.23..:-} captainscotty 08/17/17 03:18:52 PM
#62049   Exactly When, old crystal ball, will it happen. kpisme 08/17/17 03:08:25 PM
#62048   One cannot trade against Keyotee's analysis and price keyotee 08/17/17 02:17:42 PM
#62047   Zeros will be at the end, after the kpisme 08/17/17 02:15:10 PM
#62046   Zero ahead! keyotee 08/17/17 02:01:13 PM
#62045   Nice thought! ABC! keyotee 08/17/17 01:48:53 PM
#62042   Let's see if they do what they say StockItOut 08/17/17 12:08:14 PM
#62041   Nobody diserve this suffering and pain, disaster. Masterview 08/17/17 11:43:26 AM
#62040   Taken from: kpisme 08/17/17 10:55:43 AM
#62039   What's good about the Banro Q2 report? StockItOut 08/17/17 10:41:27 AM
#62038   Looking Green on my chart kpisme 08/17/17 09:55:13 AM
#62037   Beauty is in the eyes of the HOLDER. kpisme 08/17/17 09:53:30 AM
#62036   Going to a Million kpisme 08/17/17 09:51:09 AM
#62035   Ref: Trunkmonk chrislal 08/17/17 09:49:51 AM
#62034   Results out and i was right in calling MemoryLeaks 08/17/17 08:25:42 AM
#62033   Little volume on the way down often supports trunkmonk 08/17/17 08:08:41 AM
#62032   Ref: Trunkmonk chrislal 08/17/17 07:39:00 AM
#62031   Looks like some sold ahead of the news trunkmonk 08/17/17 05:33:53 AM
#62030   Banro reports interim financial statements. chrislal 08/17/17 12:28:52 AM
#62029   I called BAA a turd in 2015 and jhnvtjll 08/16/17 11:07:20 PM
#62028   Going to zero. keyotee 08/16/17 10:32:36 PM
#62027   Very poor response by BAA today, gold up trunkmonk 08/16/17 03:11:00 PM
#62022   Production was great considering the circumstances they are investorwisdom 08/14/17 02:09:20 PM
#62021   Given the horrible Q2 production report .. it badge0913 08/13/17 03:01:25 PM
#62020   Going to zero! keyotee 08/12/17 10:58:00 PM
#62019   Q2 Number are more than likely to be MemoryLeaks 08/12/17 11:54:35 AM
#62018   Trunkmonk agrees too. However, not sure about your Elevation 08/12/17 12:06:16 AM
#62017   Epicenter of primary wave 3 up in gold trunkmonk 08/11/17 10:48:26 PM
#62016   Q2 out Monday, Tuesday likely. StockItOut 08/11/17 09:33:01 PM
#62012   Where price-wise do you expect a rebound to? StockItOut 08/11/17 05:29:11 PM
#62011   You mean like ALO? kpisme 08/11/17 04:58:43 PM
#62010   Stock splits rarely end well. JohnCM 08/11/17 03:08:59 PM
#62009   I shouldn't be so entertained with such a loss. bcraig1688 08/09/17 08:08:32 PM
#62007   Yes keep dreaming of that New .05 SHORTS. kpisme 08/09/17 05:33:23 PM
#62006   Yes Market Makers playing games. kpisme 08/09/17 05:26:44 PM
#62005   Yes, the closer to zero , the more keyotee 08/09/17 04:56:38 PM
#62004   Just a number, just a guess, in that StockItOut 08/09/17 04:55:29 PM
#62003   Longs may enjoy the end-of-day manipulation. No volume, StockItOut 08/09/17 04:51:56 PM
#62001   I dont know but that target seems such investorwisdom 08/09/17 03:57:30 PM
#62000   Quote: There are soooo many other miners to choose kpisme 08/09/17 03:43:50 PM
#61999   Yet, good size blocks of trades: 59K, 45K, StockItOut 08/09/17 02:52:27 PM
#61998   New good mngt will save common shareholders. StockItOut 08/09/17 02:47:09 PM
#61997   Its not rational to sell this low the investorwisdom 08/09/17 02:35:14 PM
#61996   What can save us Gold price? Or a investorwisdom 08/09/17 02:32:12 PM
#61995   Mngt has not relayed specifics on spending for StockItOut 08/09/17 02:24:48 PM
#61994   How could such a low happen, this was investorwisdom 08/09/17 02:14:10 PM
#61993   Well, Banro hires security, yet a "personal army" StockItOut 08/09/17 01:54:36 PM
PostSubject