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Banro Corp. fka BAA

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Last Post: 3/6/2021 3:37:53 PM - Followers: 247 - 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

(g/t Au)
Proven 6.21 2.19 0.44
Probable 21.47 2.01 1.39
Total Proven & Probable 27.67 2.05 1.82
Proven 17.90 2.10 1.21
Probable 3.04 1.53 0.15
Total Proven & Probable 20.94 2.02 1.36
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


(g/t Au)
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
Inferred (Surface) 4.14 2.40 0.32
Inferred (Underground) 3.12 6.00 0.60
TOTAL INFERRED 93.29 1.70 5.08






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

#63744   Complete BS! Lolzzzz SurgeGuy2.0 03/06/21 03:37:53 PM
#63743   No one gives a chit. SurgeGuy2.0 03/05/21 11:04:40 AM
#63742   UN report says Erik Prince violated arms embargo StockItOut 03/05/21 02:42:05 AM
#63741   Congo Gold Miner (Banro) Is Back From the Brink StockItOut 03/05/21 02:31:23 AM
#63740   AGREED- retorts-IDIOTIC nagoya1 11/02/20 04:23:28 PM
#63737   So what is your saying is you can't nagoya1 10/26/20 10:24:43 PM
#63736   Can you actually debunk some of the points...looking nagoya1 10/25/20 02:10:55 PM
#63735   Completely idiotic SurgeGuy2.0 10/23/20 09:21:22 PM
#63733   nagoya1 10/21/20 01:56:02 PM
#63728   THE CONTENT AND CONTEXT OF THAT POST IS BULLSHIT SurgeGuy2.0 10/21/20 09:22:49 AM
#63727   Play by play of Banro shareholder destruction. StockItOut 10/21/20 12:27:49 AM
#63726   The content and context of that post is Bullshit. SurgeGuy2.0 02/14/20 11:28:22 PM
#63725   Banro sells Twangiza to Baiyin for $1. Now-looking-to-sell Namoya. StockItOut 02/12/20 11:14:38 AM
#63724   I'll wait for tax-loss selling season in December. jhnvtjll 06/14/19 04:46:57 PM
#63723   Well... try KP, he's still got some LONG StockItOut 06/14/19 04:43:31 PM
#63722   No one has shares to sell. jhnvtjll 06/14/19 04:39:54 PM
#63721   Should fill next week. StockItOut 06/14/19 04:15:21 PM
#63720   Still waiting. My huge bids are at 0. jhnvtjll 06/14/19 03:47:28 PM
#63719   Blackwater founder expands operations in Congo StockItOut 06/14/19 03:22:32 PM
#63718   Hope you got those cheapies. StockItOut 06/14/19 03:21:11 PM
#63717   These fka stocks can be quite lucrative. jhnvtjll 06/07/19 05:38:28 PM
#63716   Yawn trunkmonk 06/07/19 01:18:30 PM
#63715   Only kp still winning long-n-strong, as we know. StockItOut 05/07/19 01:22:42 PM
#63714   Looks like this one got me. Oh well. trunkmonk 05/07/19 01:13:48 PM
#63713   it's all quite clear. StockItOut 05/07/19 01:05:01 PM
#63712   Did I miss something? Are baa shares coming trunkmonk 05/07/19 12:22:08 PM
#63711   Yes you did! ;-) Big money StockItOut 05/04/19 04:59:10 PM
#63710   good news for Kpisme. I sold too early. BAA_Up 05/04/19 03:50:42 AM
#63709   Well, unfortunately not. StockItOut 05/02/19 03:22:23 AM
#63708   Banro plans new mine construction at Lugushwa and Kamituga. StockItOut 05/02/19 02:11:08 AM
#63707   Banro plans to be 1-Million-ounce-per-year mid-tier gold producer. StockItOut 05/02/19 02:10:02 AM
#63706   Gold operation revival plan takes shape StockItOut 05/02/19 02:06:05 AM
#63705   Southern District of New York Dismisses Securities Law StockItOut 05/02/19 01:56:15 AM
#63704   Bankrupt Banro Corp. Dodges US Suit Over Congo Operations StockItOut 05/02/19 01:55:22 AM
#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 jb128 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
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