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Banro Corp. (BAA)

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Last Post: 6/23/2017 5:07:30 AM - Followers: 335 - Board type: Free - Posts Today: 7

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) 06/16/2017 06:02:47 AM
BAA News: Report of Foreign Issuer (6-k) 06/13/2017 05:07:08 PM
BAA News: Report of Foreign Issuer (6-k) 06/09/2017 03:15:08 PM
BAA News: Report of Foreign Issuer (6-k) 06/01/2017 01:31:09 PM
BAA News: Report of Foreign Issuer (6-k) 05/30/2017 11:03:48 AM
PostSubject
#60718  Sticky Note May 22, 2017 BAA_Up 05/24/17 01:09:30 AM
#60081  Sticky Note Banro Corporation _19 04/07/17 09:27:22 AM
#61319   Xau climbs better than the JPY. Maybe this BAA_Up 06/23/17 05:07:30 AM
#61318   I wrote to the company again,today. BAA_Up 06/23/17 03:59:26 AM
#61317   Every fun is rewarded. BAA_Up 06/23/17 01:57:07 AM
#61316   Don't think Banro will B K, rather just StockItOut 06/23/17 01:34:01 AM
#61310   To answer you question, I still own BAA shares. nagoya1 06/22/17 08:24:30 AM
#61309   Nikkei is a little down, while the yen BAA_Up 06/22/17 05:22:12 AM
#61308   Thanks for the interesting conversation. BAA_Up 06/22/17 04:24:53 AM
#61307   You're right. As for market, needs to go StockItOut 06/22/17 04:22:26 AM
#61306   The problem is they can make whatever they want. BAA_Up 06/22/17 04:19:33 AM
#61305   So you mean Yen would rise as well StockItOut 06/22/17 04:17:27 AM
#61304   But only if the dollar does not rise BAA_Up 06/22/17 04:05:35 AM
#61303   Interesting. Word is Fed cannot raise too much StockItOut 06/22/17 04:02:06 AM
#61302   Good theory. This can be seen in oil BAA_Up 06/22/17 03:59:39 AM
#61301   Another theory related, that Dollar will climb, and StockItOut 06/22/17 03:55:12 AM
#61300   I've already told you. BAA_Up 06/22/17 03:54:19 AM
#61299   Monthly Dollar looks primed to shoot up. Everyone StockItOut 06/22/17 03:49:10 AM
#61297   I'm only acting. I'll take profits immediately and BAA_Up 06/22/17 03:39:05 AM
#61296   My Dollar prediction not happening is it? StockItOut 06/22/17 03:34:35 AM
#61293   Thanks sio I'm afraid you're right. BAA_Up 06/22/17 03:28:42 AM
#61292   Not gonna happen. They're tight with the govt, StockItOut 06/22/17 03:23:31 AM
#61290   Yeah sure, welcome. StockItOut 06/22/17 03:20:10 AM
#61288   nagoya1 That you can believe me, if you want. BAA_Up 06/22/17 02:22:49 AM
#61287   BAA yesterday had the best trading volume, since BAA_Up 06/22/17 01:42:28 AM
#61285   Good summary. Agree, and have the same hope. BAA_Up 06/22/17 12:08:21 AM
#61284   This the image your referring too? Must say MemoryLeaks 06/21/17 11:52:26 PM
#61283   This is the rainy season, according to Martin. BAA_Up 06/21/17 11:49:54 PM
#61282   Can you explain how this works exactly. nagoya1 06/21/17 11:28:07 PM
#61281   Yes, yes, yes my bet was ok. BAA_Up 06/21/17 10:29:55 PM
#61280   Memories for veterans BAA_Up 06/21/17 09:11:43 PM
#61279   Good link, thank you, is new to me, BAA_Up 06/21/17 07:11:47 PM
#61278   market cap increase, price to book decrease. StockItOut 06/21/17 06:49:51 PM
#61277   Sio, I would have liked to discuss the BAA_Up 06/21/17 05:04:10 PM
#61276   Ha ha, yes we must be different. BAA_Up 06/21/17 03:47:27 PM
#61275   TeamT, there's your answer. It was in PR. StockItOut 06/21/17 03:40:59 PM
#61274   December 30, 2016 BAA_Up 06/21/17 03:38:04 PM
#61273   Nice guy. Has class. Not crass like StockItOut 06/21/17 03:35:44 PM
#61272   There is a rainy season that begins every BAA_Up 06/21/17 03:27:37 PM
#61271   Previous press release conveyed notice of potential delisting. StockItOut 06/21/17 03:18:23 PM
#61270   Why should other listing rules apply to Banro? Now? BAA_Up 06/21/17 03:09:55 PM
#61269   Good point. Maybe that it's a given after StockItOut 06/21/17 02:14:34 PM
#61268   And that would echo what John told me. TeamTOC 06/21/17 12:47:50 PM
#61267   I think delisting a non-issue with BAA above $.20. StockItOut 06/21/17 12:37:53 PM
#61266   Yeah, my email to him yesterday was very simple... TeamTOC 06/21/17 12:33:53 PM
#61265   Thanks for update TeamT. Good to hear you StockItOut 06/21/17 12:31:08 PM
#61264   I finally received a response. TeamTOC 06/21/17 11:22:22 AM
#61263   Volume equiv to Banro Q2 gold ounce production. StockItOut 06/21/17 09:07:39 AM
#61262   They'll really have to ramp up production for StockItOut 06/21/17 08:52:34 AM
#61261   No answer... both accounts, both parties. StockItOut 06/21/17 08:49:00 AM
#61260   Relax, gold is down today, don't get your investorwisdom 06/20/17 07:32:53 PM
#61259   I am the same waiting a few weeks MemoryLeaks 06/20/17 06:09:07 PM
PostSubject