SureTrader
Interactive Brokers Advertisement
Home > Boards > US Listed > Mining/Resources >

Banro Corp. (BAA)

BAA RSS Feed
Add BAA Price Alert      Hide Sticky   Hide Intro
Moderator: investorwisdom, captainscotty
Search This Board: 
Last Post: 10/19/2017 5:36:39 PM - Followers: 327 - Board type: Free - Posts Today: 6

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


 
SureTrader
Interactive Brokers Advertisement
BAA
Current Price
Volume:
Bid Ask Day's Range
  • 1D
  • 1M
  • 2M
  • 3M
  • 6M
  • 1Y
  • 2Y
  • 3Y
  • 5Y
BAA News: Report of Foreign Issuer (6-k) 09/25/2017 03:24:27 PM
BAA News: Report of Foreign Issuer (6-k) 09/15/2017 06:03:28 AM
BAA News: Report of Foreign Issuer (6-k) 08/18/2017 06:02:41 AM
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
PostSubject
#62638   Let’s just hope both mines start producing what BAA_Up 10/19/17 05:36:39 PM
#62637   Thanks for the update. A Plus is hearing MemoryLeaks 10/19/17 05:19:50 PM
#62636   Hi Sio BAA_Up 10/19/17 04:07:19 PM
#62635   Wow ,now vampires are a concern and people keyotee 10/19/17 03:38:19 PM
#62634   Mark Fabre makes explosive commentary. Very interesting! keyotee 10/19/17 11:07:34 AM
#62633   I did it, yesterday BAA_Up 10/19/17 12:22:20 AM
#62632   Still no numbers. It feels like the numbers MemoryLeaks 10/18/17 10:42:22 PM
#62631   I can not recommend a long position for BAA_Up 10/18/17 05:10:08 AM
#62630   Still current at: BAA_Up 10/18/17 04:40:08 AM
#62629   there are no letters in the mailbox. BAA_Up 10/17/17 08:53:12 PM
#62628   Now that just about sums it up. Do keyotee 10/17/17 11:24:26 AM
#62627   If Banro has not forgotten to bring news BAA_Up 10/17/17 12:24:27 AM
#62626   They've reported as late as 17th of the StockItOut 10/17/17 12:19:03 AM
#62625   How have we not got Q3 numbers yet, BAA_Up 10/16/17 10:12:14 PM
#62624   How have we not got Q3 numbers yet, MemoryLeaks 10/16/17 09:33:27 PM
#62623   Am curious what Banro, BAA, tomorrow makes. BAA_Up 10/16/17 06:03:58 PM
#62621   BAA and the black Gold story BAA_Up 10/15/17 09:06:40 PM
#62618   Should the two undeveloped mines be negatively affected, BAA_Up 10/14/17 06:32:20 PM
#62617   Then Kamituga and Lugwushwa quickly became active. BAA_Up 10/14/17 06:09:06 PM
#62616   Banro nuked by North Korea! StockItOut 10/14/17 09:48:13 AM
#62615   Low valuation, I agree. BAA_Up 10/13/17 08:28:33 PM
#62614   No cash, constant financing/dilution/gold-forwards/streamings, high spending, falling production, StockItOut 10/13/17 12:12:30 PM
#62613   $2/SH book value for BAA! What's not to like? fl89808 10/13/17 09:59:44 AM
#62612   You're welcome . I appreciate the answers and BAA_Up 10/13/17 04:48:21 AM
#62611   Thanks for posting. UN involved, serious. StockItOut 10/13/17 04:40:51 AM
#62610   I wanted to explain it to him, as BAA_Up 10/13/17 04:39:51 AM
#62609   This is fake newz, kp told us the StockItOut 10/13/17 04:35:13 AM
#62608   News from 28 September 2017 about the province BAA_Up 10/13/17 04:29:52 AM
#62607   Background to the closure of Namoya 10 01 17 BAA_Up 10/13/17 03:31:34 AM
#62606   Thanks a lot. I will be careful. BAA_Up 10/13/17 02:50:10 AM
#62605   Shorts lightened-up from "prior" whenever that was. StockItOut 10/13/17 02:23:05 AM
#62604   I forgot http://shortsqueeze.com/?symbol=baa&submit=Short+Quote%E2%84%A2 BAA_Up 10/13/17 01:13:32 AM
#62603   I only have this. 20 minutes delayed. Is BAA_Up 10/13/17 12:24:15 AM
#62602   Does anyone have a good link about current BAA_Up 10/12/17 11:56:30 PM
#62601   Gladly, not just realistic. Well researched, good, and BAA_Up 10/12/17 10:44:32 PM
#62600   Hey, thanks. StockItOut 10/12/17 10:06:02 PM
#62599   Been checking, no insider purchases, or sales, since June. StockItOut 10/12/17 09:59:55 PM
#62598   That's it? BAA_Up 10/12/17 07:56:17 PM
#62597   Gotta be plucking. But curious if supported. StockItOut 10/12/17 07:43:30 PM
#62596   That's it? StockItOut 10/12/17 07:41:53 PM
#62595   I pulled the lotto lever long. BAA_Up 10/12/17 06:05:12 PM
#62594   Wishes and imagination are free. BAA_Up 10/12/17 05:42:03 PM
#62593   Go on then, tell us you numbers you MemoryLeaks 10/12/17 05:28:42 PM
#62592   The prices look like lottery numbers. BAA_Up 10/12/17 05:25:11 PM
#62591   Operational efficiency being reached while gold prices continue investorwisdom 10/12/17 05:19:45 PM
#62590   Right, on two mines without more capital expenditure? StockItOut 10/12/17 01:30:54 PM
#62589   How are you formulating that price. Your putting MemoryLeaks 10/12/17 01:00:45 PM
#62588   Long term it's reasonable for Banro to have investorwisdom 10/12/17 12:23:06 PM
#62586   I pulled the lotto lever long. Did not win. StockItOut 10/12/17 07:09:58 AM
#62585   Planned run-up day before huge next-day block sales BAA_Up 10/12/17 02:24:47 AM
PostSubject