KEEPA KNOCKIN BUT CHA CANT COME IN
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Maybe with reorganization it will bounce back like a shiny gold nugget?
200K with 200k i really would tell my company to eat dog shytt and keel over LOL
I think you mean OAML
OFF AZZ MY LAUGH
HEHEHE
not bashing, just giving my input...
good luck bubba...
omg not a rally... will there be hotdogs and drinks with fries? LOL how bout cotton candy?
PUMP PUMP PUMP IT UP LOL
$10 is more sensible and possible
well maybe Donald Trump will do better? LOL
11.50 and $13... good lord...
LOL that would be beyond outrageous X10 LOL
Now if only the PPS was right on track LOL
$500 dollars... really? LOL
RIP midway gold LOL omg
yea sure it is LOL
don't have to wait til you're 70 years old to retire,, just live off BAA profits and have social security to play around with LOL
but looking back at the steady declining 52 week highs over the past few years, well it will take a lot of turning around to get to an lovely pps such as that though.... its been like 6-8 years or so since the pps has been up into the teens of dollars.
brother that would be one happy day,, I would definitely tell my boss to bite himself, herself, themselves but not in those nice of words LOL
loading what? bars of gold? because shares are plentifull LOL
with hotdogs and pizza franchise is what i hear
now if the price will change from .26 to like 2.60 LOL
Banro's Production Numbers Prove The Company Is On The Right Track
Jul. 16, 2015 10:22 AM ET | About: Banro Corporation (BAA)
Disclosure: I/we have no positions in any stocks mentioned, but may initiate a long position in BAA over the next 72 hours. (More...)
Summary
Banro reports a consolidated production of almost 45,000 ounces of gold.
Twangiza continues to outperform, and the company has increased the production guidance to 115-125,000 ounces for this year.
I expect a very strong H2 at Namoya as the stacking levels are increasing.
Introduction
A few weeks ago, I said Banro (NYSEMKT:BAA), which is operating two gold mines in the Democratic Republic of Congo, could be an interesting contrarian investment. I know I always focus on companies operating in safe and reliable regions, but Banro's future actually looks pretty good - that is, if the DRC doesn't ruin this party. In this article I will have a look at the most recent production update to check if the company is still on track to meet my expectations.
Good production results at both Twangiza and Namoya indicate the company is doing well
The gold production at the Twangiza and Namoya mines came in at 44,850 ounces of gold, to which the Twangiza mine was the main contributor with a total production of just over 34,000 ounces of gold, in line with its production rate in the first quarter.
Source: company presentation
I'm particularly pleased with the results at the Twangiza mine. Banro has been trying to debottleneck the production process there by blending the oxide ore with non-oxide material. This means that the higher grade ore from the Twangiza mine has been blended with lower grade ore to deliver a lower-grade but profitable head grade to the processing plant. Twangiza has now produced just over 70,000 ounces of gold in the first half of the financial year, and this is considerably higher than the 9,000 ounces per month (or less than 55,000 ounces for the entire year) Banro was expecting to produce. This is fantastic, and the company has now increased its production guidance for 2015 to 115,000-125,000 ounces of gold, resulting in an expected gold production of 45,000-55,000 ounces for the second half of this year.
Source: company presentation
At Namoya the production rate increased to 10,525 ounces of gold compared to 9,254 ounces in the first quarter of this year. That's quite a nice 13.7% production increase but there will be more to come. The production results at Namoya are directly correlated to a) the amount of ore stacked and b) the average grade of the ore stacked. The average grade of the stacked ore did decrease in the second quarter of this year to 1.53 g/t (from 1.97 g/t in Q1), but as the total amount of ore stacked increased by almost 30%, the grade drop will - over time- be compensated by the higher amount of tonnes on the lead pad.
Is there a specific explanation for the performance?
At Twangiza, you'd expect the gold production to go down quite a lot as the average grade dropped by quite a substantial amount from 3.21 g/t to 3.01 g/t. The fact the production drop remained limited to roughly 5% was due to the fact the average recovery rate increased to 82.2%, and this 2% increase is actually quite important in the greater scheme of things, as it means the company's blending strategy is starting to pay off.
At Namoya, it's of utmost importance to increase the stacking rate as fast as possible, and whereas the company stacked just 255,000 tonnes of ore in Q1 2015, this already increased to 330,000 tonnes in Q2. This is a nice increase of 30%, but it gets even better than what the headlines would make you think. In fact, the stacking levels in April were horribly low (less than 60,000 tonnes), but the company was able to compensate for this by a very strong May and June month as in excess of 140,000 tonnes were stacked in June.
(click to enlarge)
Source: company presentation
But there's more! The average stacking rate in H2 June and early July was 5,000 tonnes per day, and this should increase to 6,000 tonnes per day by the end of this month. This means that if I'd use a stacking rate of 155,000 tonnes for July, 186,000 tonnes for August and 180,000 tonnes for September, the total amount of ore stacked should increase to in excess of half a million tonnes, another 50%+ jump, and this should result in a much higher production rate from Q4 on.
Investment thesis
Yes, Banro Gold is still on track, and even though you might not be blown away by the Q2 production numbers (although they are pretty good!), I think the Namoya mine will start to surprise from the fourth quarter on, as then the gold will be recovered from the ore which is being stacked right now.
The second half of this year will be incredibly important for Banro, as I would expect a lot of positive cash flow being generated. I hope the cash will be spent wisely on both increasing the operational efficiency at both Twangiza and Namoya, and to pay the company's outstanding debt down as fast as humanly possible.
Editor's Note: This article covers one or more stocks trading at less than $1 per share and/or with less than a $100 million market cap. Please be aware of the risks associated with these stocks.
52 week highs are lower each year now..... hmmm interesting..
yes I know... LOL thats what I mean LOL
i surely would love to get rid of this worthless boulder LOL
its just my opinion, but i don't see this being bought out. and most companies once filing chapter 11 never remover to their original state. but good luck to you brother... no buy out or takeover in the cards,, that merger with that forest oil or whatever the company was, basically lead them to this demise I'm thinking.
probably something like ANRQ or something similar.
Is this a Chapter 11 waiting in the midst
if you have shares of this, it is suggested you sell it before your whole investment decreases to 0 or close to it... if you have a brokerage account, its as simple as 1 2 3 LOL..... most companies do not recover from chapter 11 and if they do the stocks are still valued really low.
LOL i would like to see $3 instead LOL
Yes, and who reads this should follow suit
no its not worthless yet because its still trading at like a little over 2 cents
Sabine Files Bankruptcy in New York as Oil Prices Fall
by Linda SandlerDouglas Wong
July 15, 2015 — 5:05 AM EDT Updated on July 15, 2015 — 11:36 AM EDT
Share on FacebookShare on Twitter
Don't Miss Out — Follow Bloomberg On
Facebook Twitter Instagram YouTube
Share on Facebook
Share on Twitter
Sabine Oil & Gas Corp., the exploration and production company that merged with Forest Oil Corp. last year, filed for bankruptcy after the price of crude plunged.
The company said in a statement that it’s discussing a consensual financial restructuring plan with lenders and debtholders. Aiming for a quick exit from court, it set a Nov. 12 deadline for the proposal to be filed.
Sabine is the latest casualty of the energy slump, joining American Eagle Energy Corp., Dune Energy Inc. and Quicksilver Resources Inc. in bankruptcy this year. It has sold assets, cut expenses for drilling and new wells and frozen wages to cope with the decline in energy prices, according to court filings.
“Given the severity of the current market conditions and their impact on the company’s cash flow situation, the company has been unable to right-size its balance sheet through cost-cutting and self-help measures alone,” Chief Financial Officer Michael Magilton said in court papers.
The company had about $2.5 billion in assets and $2.9 billion in liabilities as of May 31, according to a Chapter 11 filing Wednesday in New York.
Suit Filed
Sabine’s first action after the filing was to sue one group of creditors to recover assets for another. The assets were shuttled around in the December 2014 merger with Forest Oil, at a time when both companies were already struggling as lower energy prices eroded the value of their assets.
Sabine blamed unnamed hedge funds for delaying a merger that looked better earlier in the year. The funds were betting against Forest Oil bonds, anticipating a profit if the deal didn’t close, it said. At the same time, they bought Forest Oil shares so they could vote them against the merger, Sabine said.
Problems with Forest Oil’s financial controls presented another delay, when an accounting regulator inspected an audit of 2013 results, spurring Ernst & Young to take a second look at past financial reports.
Meanwhile, West Texas Intermediate crude oil prices fell from $103 a barrel in July to $93 in September and $55 in December, it said.
Sabine went ahead with a revised merger at a time when both companies were insolvent, for fear Forest Oil would sue if they didn’t combine, according to the lawsuit.
Forest Oil was founded in 1916 in Pennsylvania and went public in 1969. Sabine, with offices in Houston, was founded as a Delaware company in 2007.
The case is in re Sabine Oil & Gas Corp., 15-11835, U.S. Bankruptcy Court, Southern District of New York (Manhattan).
July 15, 2015 — 5:05 AM EDT Updated on July 15, 2015 — 11:36 AM EDT
Share on FacebookShare on Twitter
Don't Miss Out — Follow Bloomberg On
Facebook Twitter Instagram YouTube
Share on Facebook
Share on Twitter
Sabine Oil & Gas Corp., the exploration and production company that merged with Forest Oil Corp. last year, filed for bankruptcy after the price of crude plunged.
The company said in a statement that it’s discussing a consensual financial restructuring plan with lenders and debtholders. Aiming for a quick exit from court, it set a Nov. 12 deadline for the proposal to be filed.
Sabine is the latest casualty of the energy slump, joining American Eagle Energy Corp., Dune Energy Inc. and Quicksilver Resources Inc. in bankruptcy this year. It has sold assets, cut expenses for drilling and new wells and frozen wages to cope with the decline in energy prices, according to court filings.
“Given the severity of the current market conditions and their impact on the company’s cash flow situation, the company has been unable to right-size its balance sheet through cost-cutting and self-help measures alone,” Chief Financial Officer Michael Magilton said in court papers.
The company had about $2.5 billion in assets and $2.9 billion in liabilities as of May 31, according to a Chapter 11 filing Wednesday in New York.
Suit Filed
Sabine’s first action after the filing was to sue one group of creditors to recover assets for another. The assets were shuttled around in the December 2014 merger with Forest Oil, at a time when both companies were already struggling as lower energy prices eroded the value of their assets.
Sabine blamed unnamed hedge funds for delaying a merger that looked better earlier in the year. The funds were betting against Forest Oil bonds, anticipating a profit if the deal didn’t close, it said. At the same time, they bought Forest Oil shares so they could vote them against the merger, Sabine said.
Problems with Forest Oil’s financial controls presented another delay, when an accounting regulator inspected an audit of 2013 results, spurring Ernst & Young to take a second look at past financial reports.
Meanwhile, West Texas Intermediate crude oil prices fell from $103 a barrel in July to $93 in September and $55 in December, it said.
Sabine went ahead with a revised merger at a time when both companies were insolvent, for fear Forest Oil would sue if they didn’t combine, according to the lawsuit.
Forest Oil was founded in 1916 in Pennsylvania and went public in 1969. Sabine, with offices in Houston, was founded as a Delaware company in 2007.
The case is in re Sabine Oil & Gas Corp., 15-11835, U.S. Bankruptcy Court, Southern District of New York (Manhattan).
gold stocks in general are dragging like ABX trading at under $10 and was over $50LOL .. Baa once over $10 now its in the cents. $MDW was trading over $1 then went all the way down to small cents, then filed bankruptcy. Im thinking if BAA will be delisted if it can't reach over $1 to keep trading on the NYSE.
3 billion dollars? good lord.... i will take a million of that.. LOL so that I can tell my company to eat ___ and ___ LOL
from over 50 dollars per share to this over the years// al least its not a BK
oh woe with us LOL
move on LOL i lost too.. LOL
LOL the mining markets are just dragging,,, LOL seems like for the longest
so another halted stock on the list LOL? is it still trading?