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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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#63700   KP is LONG and STILL WINNING!!!! Maybe he StockItOut 11/01/18 01:24:40 AM
#63699   Canadian judge using it for kindling. StockItOut 11/01/18 01:24:06 AM
#63698   We don’t know what you’re talking about. Have StockItOut 11/01/18 01:19:54 AM
#63697   Wait Banro is still around?? What happened to jbolan 10/31/18 10:14:22 AM
#63696   BAA,10$, this was a good robbery. Masterview 10/24/18 05:50:55 PM
#63695   BAA, the only funny messageboard. As you can BAA_Up 10/21/18 04:07:08 AM
#63694   Breaking News: Banro eaten by a giant shark! StockItOut 10/20/18 12:29:13 PM
#63693   Yikes StockItOut 09/28/18 02:31:04 AM
#63692   https://www.miningreview.com/banro-corporations-namoya-gold-mine/ BAA_Up 09/27/18 01:32:09 AM
#63690   Banro could have done the same type of BAA_Up 08/27/18 01:55:52 AM
#63689   These have always been the smartest posters. BAA_Up 08/27/18 01:42:10 AM
#63688   kpisme the only remaining sharehokder with shares. StockItOut 08/26/18 12:33:27 PM
#63687   My BAA shares finally no-longer listed in my account. StockItOut 08/26/18 12:30:37 PM
#63686   Banro could have done the same type of trunkmonk 08/07/18 09:20:36 AM
#63685   It’s the truth. Further details forthcoming pending full BAA_Up 07/23/18 11:54:52 PM
#63684   Breaking-News! DRC rebels take-over Banro! And re-list BAA! StockItOut 07/20/18 01:42:16 PM
#63683   clinging losers always resort to personal attacks when trunkmonk 07/12/18 06:33:42 AM
#63682   HAH ......! ?? BAA_Up 07/12/18 12:09:04 AM
#63680   No One could tell. kpisme 07/11/18 05:00:33 PM
#63679   Really lol. trunkmonk 07/11/18 02:33:33 PM
#63678   Hah trunkmonk 07/11/18 02:32:54 PM
#63677   Hah trunkmonk 07/11/18 02:32:53 PM
#63676   An odd alignment u 2, you’re right. StockItOut 07/11/18 02:25:58 PM
#63675   Those were warnings. With surprise and contempt for StockItOut 07/11/18 02:18:38 PM
#63674   Stalkers? Crazy? Who knows why such people do trunkmonk 07/11/18 10:24:55 AM
#63673   I agree totally. If the so kpisme 07/11/18 09:48:34 AM
#63672   It’s all bull. Lack of shareholder support and trunkmonk 07/11/18 07:10:21 AM
#63671   It's just comical that banro is going after Elevation 07/11/18 03:40:03 AM
#63670   I regret that I did not hit your BAA_Up 07/10/18 11:25:49 PM
#63669   Nice analogy. Made me laugh. Elevation 07/10/18 08:35:20 PM
#63668   Lets see. Company sued by shareholders and you’re StockItOut 07/10/18 06:00:30 PM
#63667   I didn't say a settlement yet. Right now Elevation 07/10/18 04:18:11 PM
#63666   Like most that post here? Strange angry crown trunkmonk 07/10/18 06:36:05 AM
#63665   Use a dictionary! With that you can learn BAA_Up 07/10/18 01:41:01 AM
#63664   I assume you do not know anything BAA_Up 07/10/18 01:36:58 AM
#63663   Settlement? Already? StockItOut 07/09/18 08:37:57 PM
#63662   It will be public soon enough. Elevation 07/09/18 08:35:54 PM
#63661   Okay. Sounds good. Why not share. StockItOut 07/09/18 07:44:01 PM
#63660   Rebels!!! HA!! TERRORISTS!!!! kpisme 07/09/18 10:23:07 AM
#63659   There is news now. You will find out soon. Elevation 07/09/18 12:16:51 AM
#63658   Ah, to feed to Banro mngt. StockItOut 07/06/18 12:26:01 PM
#63657   Give those rebels some poisened Fuckyshima fish. Masterview 07/06/18 11:49:27 AM
#63656   Thank you! Important news needs to be shared. StockItOut 07/06/18 05:21:53 AM
#63655   Good one! Made me laugh. StockItOut 07/06/18 05:20:23 AM
#63654   Yes, background is Banro execs deserve it. StockItOut 07/06/18 05:17:45 AM
#63653   That was good. Gave me a chuckle Elevation 07/06/18 02:51:41 AM
#63652   This is old news Elevation 07/05/18 11:39:21 PM
#63651   Interesting news. BAA_Up 07/05/18 11:36:16 PM
#63650   Breaking News!! — DRC rebels raid the Toronto offices-of-Banro-Corporation. StockItOut 07/05/18 11:41:10 AM
#63649   SEC Form 15 - CERTIFICATION-AND-NOTICE OF TERMINATION OF REGISTRATION StockItOut 07/05/18 11:29:24 AM
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