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I agree. I was just curious as to whether it was written AFTER the $90MM announcement and BEFORE Q1 earnings were released.
Do you happen to know what the date of the article/report you posted is?
When Banro is producing 200,000 oz. of gold per year dont you think this can be refinanced or renegotiated?
Along with the $90MM that was just done in forward sales at 20% return?
Along with the Preferred's that pay a high rate currently?
Last week I confirmed with Mr. Jones of BAA and posted here that there are no analysts following BAA currently. Ever since last July 2014 when Namoya production was postponed.
Once Q2 is released and Namoya is in commercial production BAA is going to reach out to the financial community and spread the good word.
THIS IS THE WINDOW OF OPPORTUNITY IMO. GET IN BEFORE THE ANALYSTS.
I am moving into the eye of the hurricane. Time for me to get into the oil and natural resources area quite heavily for the 401K.
Just IMO. Do your own DD.
Go BAA!
How about some news after the close. Maybe Namoya is online?
Maybe 2Q guidance?
Tough week but have a good weekend all.
Yeah it is going to look pretty good on the daily charts Congo. That outside day. Let's get over $.23.
Good Day All. Looks like the $BPGDM and 1080 on gold might have caught some peoples all on one side of the boat.
What will be interesting is the continued positve relative strength of BAA vs the other GDX and GDXJ stocks.
If gold does bottom here at 1080ish and does turn around...BAA should take its relative leadership position back. Congrats to those who had dry powder to buy under $.20.
$BPGDM now at 0.00
The bullish percent of the Gold Mining stocks has now reached zero.
Not usually the best time to sell.
Do your own DD.
I am holding for long term cap gains on this one.
you would have lost half of the profit to taxes right?
Good Day All:
Based upon my emails with Mr. Jones at BAA posted yesterday...
No analysts currently follow the stock...
No planned news is coming until Q2 financials in Mid-August.
News release is coming on the Namoya being commercial (they are not yet certain of timing).
Once the Q2 financials are released and Namoya is commercial they plan to address the analysts and financial community and show the world BAA's value based upon Twangiza and Namoya production and proven continued production.
The opportunity to be in BAA before the analysts is now.
You traders can do what you want. It does not change the fundamentals of BAA's progress since getting Twangiza at max production efficiency and Namoya at much higher Q3 production levels.
I think you can buy the NUGT here $3.77 and do well. Do you own DD.
In my opinion, this was the news release Mr. Jones was referring to. I think all efforts are to get Namoya in commercial production.
Sounds good Tex. Thx.
I also asked when the Q2 financials would be released.
Mr. Jones said...Our 2nd quarter financials release will be out in mid-August. There are no other scheduled releases at the moment, but that could change if there was news to announce.
Martin Jones
Chairman, Banro Foundation
Banro Corporation
Lets see how the market receives the Newmont Mining financials after the close.
I have always respected your opinion Tex. Still do.
I believe in Q1 they had about 4100 oz of unsold gold in inventory (that did not show up in sales. This would have increased the profit EPS also.
Bottom line is that there are really no analysts following the company. Thus the opportunity long term for my money.
This was Mr. Jones' response to my question on the wide range of analysts in both number and EPS estimates. After the Namoya announcement last year in July, they pretty much disappeared.
How many analysts actually follow BAA? I see estimates ranging from 1 to 4 analysts depending on the company. Schwab, Zacks, Yahoo, etc.
I still see an estimated number for $34MM in sales in the 2nd qtr but BAA has confirmed that there were 44850 ounces produced in the 2nd qtr that would generate $44MM+. I even see that one estimate is for a -$.10 EPS in the 2nd Qtr. These surely are dated estimates from analysts that stopped following your progress.
"We are pretty much without serious analyst coverage at the moment. Our plan is to complete the turnaround of Namoya and then re-introduce the Company to the broad market with a proven story to tell. At that time, we will be looking at re-building analyst coverage."
Martin
Martin Jones
Chairman, Banro Foundation
Banro Corporation
1 First Canadian Place, Suite 7070
I agree with you Trunk.
The expectations are as low as can be in the gold sector.
Best of Luck Tron. Maybe we will see you back soon.
Just my opinion...I can see BAA closing the week above where we opened this week Congo.
I can see a close north of $.25-26. However I still have and will not sell until $.75 area or better in 2016.
I would agree with that Fitz. A $20-25 drop in the price of gold below $1100 has resulted in more bearishness in gold than I recall in years. Long side Open Interest is under 50,000 total contracts I heard on CNBC. Everyone is on the wrong side of the boat IMO. Just because gold went below $1100 for a few days.
Per my earlier posts...I believe that Banro is profitable $.02-$.03 EPS selling gold at $1000 per oz. using the confirmed 2nd quarter production numbers of 44,850 ounces produced. Barring any one time charge offs etc.
Personally, I think the average BAA selling price in the second quarter is going to be more like $1125 so I am in for $.03-$.04 for the second quarter.
All my opinion. I have not sold any shares in BAA at all since my first purchase at this time last year.
It's not too late. You can still get back in to BAA for the long term.
I think the momo people looking for a fast turn just got shook out. Go BAA!!
GDX now down just $.02 GDXJ should not be far behind.
gdx
Agree Lib 74. There is a lot of "get me out at any price" going on.
Previous 240 minute period had an outside candle extending from yesterday.
I would expect sellers have been exhausted for the next few four hour periods. Just my opinion.
I think the dollar has about peaked IMO. I do not think the US economy is moving as fast as everyone thinks. Including the Fed.
Nice find. There you go.
Pretty sure. ON the conference call they were talking about spending a portion of the $70MM they received in the 2nd Qtr. to get the CAT 777's rolling to get more material in process for Nomoya.
That is how they were planning to get to 6000 tonnes per day from Namoya to get it to commercial production levels.
I would yield to Blue, Congo, 007 or Libertarian on that though.
On the conference call they mentioned that when they got the first $20MM in the first quarter they paid those more immediate loans down if I am not mistaken.
What is going on with GSS after hours?
I like the math Congo. Thx.
As many buyers as there are that want to get out that bot in the $.30+ range there are many more that want in between $.20-$.23 IMO.
These are the buyers that missed the whole run up.
Did Martin say if they were going to pre-announce at all?
As I said earlier today...I look at NUGT and JNUG and the miners.
BAA is the one I want to be in. The others have too much all in cost.
BAA just needs to use the $45MM-$50MM in 2nd Qtr. cash to get on top of debt for a quarter IMO.
How much does one CAT 777 haul per load?
That is how BAA is going to get to 6000 Tonnes a day from Namoya mine in order to start processing the gold!
Faz:
This is Mr. Jones' reply to my question on how many CAT 777's were ordered in the 2nd quarter to increase the material being brought from the Namoya mine.
The order included 9 new Volvo trucks ; seven CAT 777s and one CAT 6015 Excavator
[
Martin Jones
Chairman, Banro Foundation
Banro Corporation
1 First Canadian Place, Suite 7070
100 King St. West
Toronto, ON