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Banro Corp. (BAA)

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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: Termination of Registration of a Class of Security Under Section 12(b) (15-12b) 05/04/2018 02:35:45 PM
BAA News: Report of Foreign Issuer (6-k) 05/03/2018 05:20:01 PM
BAA News: Banro Announces Effectiveness of its Recapitalization Plan and Intent to Terminate Registration under Securities Exchange Act... 05/03/2018 05:12:00 PM
BAA News: Report of Foreign Issuer (6-k) 03/29/2018 06:05:36 AM
BAA News: Banro Announces Court Approval of Recapitalization Plan 03/27/2018 05:00:00 PM
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#63503  Sticky Note Investors claim Banro Corp. made false representations regarding operations nagoya1 03/25/18 09:03:27 PM
#63627   Nothing can change the situation anymore...this was a Masterview 06/12/18 06:58:59 PM
#63625   Right here. I luv this company. BAA_Up 06/12/18 04:07:19 PM
#63620   Right here. I luv this company. StockItOut 06/12/18 04:53:53 AM
#63618   And ‘can rely on the other.’ Yeah, good point. StockItOut 06/06/18 11:28:54 PM
#63617   For instance, Banro can simply claim that it BAA_Up 06/06/18 04:50:40 AM
#63616   Of course, it’s to be continued... StockItOut 06/03/18 04:38:59 PM
#63615   Like trunkmonk said, he will have no choice. Elevation 06/02/18 07:45:13 PM
#63614   Answer: Yes. Disassociate/Disconnect him from company for legal reasons. StockItOut 06/01/18 02:18:10 PM
#63613   The court, if required, will have him in trunkmonk 06/01/18 06:38:59 AM
#63612   Smart legally tactical move by banro? To cut Elevation 05/31/18 10:45:39 PM
#63611   I see, interesting point. I did not StockItOut 05/30/18 08:42:49 AM
#63610   It's like in politics. They are replaced in BAA_Up 05/29/18 03:20:29 AM
#63609   Hey stock it out, I agree with most Elevation 05/28/18 12:55:54 PM
#63608   Thanks X 2 StockItOut 05/26/18 05:45:46 PM
#63607   I agree with you. The case is interesting. BAA_Up 05/26/18 12:54:23 AM
#63606   That's your opinion BAA_Up 05/26/18 12:37:44 AM
#63605   You’re too personally involved and invested, and not StockItOut 05/25/18 04:05:02 PM
#63604   Answers to: “That's you opinion. To that, there StockItOut 05/25/18 03:59:58 PM
#63603   BAA_Up, thanks for reply, and good tidings. StockItOut 05/25/18 03:35:23 PM
#63602   The biggest statement is that their is mass Elevation 05/24/18 01:03:45 PM
#63601   The biggest statement is that their is mass Elevation 05/24/18 01:03:43 PM
#63600   That's you opinion. To that, there are the Elevation 05/24/18 10:52:42 AM
#63599   P.S. And where should the money come from? BAA_Up 05/24/18 01:58:20 AM
#63598   Hi SIO! BAA_Up 05/24/18 01:18:49 AM
#63597   Agree Elevation 05/23/18 03:30:47 PM
#63596   Yeah, insurance policy not enough. Assets are StockItOut 05/23/18 02:00:06 PM
#63595   It may be enough. Also throw in the Elevation 05/23/18 11:29:31 AM
#63594   Not quite enough, is it? StockItOut 05/23/18 11:04:58 AM
#63593   That’s me and most longs on this board. StockItOut 05/23/18 11:04:26 AM
#63592   Banro has a 100 million insurance policy every year Elevation 05/23/18 10:52:18 AM
#63591   The suit timeline begins in January 2016. So Elevation 05/23/18 10:50:37 AM
#63590   Hi _Up. Nice to hear from you. StockItOut 05/23/18 12:46:59 AM
#63589   Ugly self reflection Bites upon others When seen StockItOut 05/23/18 12:36:58 AM
#63588   You are right, I should have said NOBODY kpisme 05/22/18 09:44:01 AM
#63587   You described the poster you responded to very kpisme 05/22/18 09:26:18 AM
#63585   A brain dead man can not find the BAA_Up 05/22/18 04:27:06 AM
#63584   Such is life and the human condition. Humans JJ8 05/21/18 08:30:50 PM
#63583   Some posters always-looking to-blame everyone else but themself. StockItOut 05/21/18 04:19:17 PM
#63582   WRONG as USUAL, LOST as USUAL, On IGNORE kpisme 05/21/18 04:01:37 PM
#63581   LONGS were fooled by me? Hmm, such influence. StockItOut 05/21/18 03:51:46 PM
#63580   FOOLED this Board. WE can't Tell. kpisme 05/21/18 03:46:27 PM
#63579   I don’t invest time in hating, that’s for losers. StockItOut 05/21/18 03:46:01 PM
#63578   Gosh, YOU care so much as to regularly respond! StockItOut 05/21/18 03:44:20 PM
#63577   NOTHING YOU ARE INTERETED IN OR PROMOTE LOSER kpisme 05/21/18 03:43:35 PM
#63576   Who Cares What U thought, NO ONE, And kpisme 05/21/18 03:42:28 PM
#63575   Not 100%, yet speculative, agree with you there. StockItOut 05/21/18 03:31:55 PM
#63574   nobody 'invest' in these stocks markethub 05/21/18 03:22:04 PM
#63572   Banro relied upon sheeple investors, now hoping for StockItOut 05/21/18 03:13:45 PM
#63571   NOTHING YOU ARE INVOLVED IN OR PROMOTE LOSER kpisme 05/21/18 02:36:06 PM
#63570   What’s your next great LONG and STRONG investment StockItOut 05/21/18 02:32:02 PM
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