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Banro again on the news:
Congo's copper output falls on low prices, gold rises
http://www.reuters.com/article/congodemocratic-mining-idUSL8N15N3SZ
Some updates from the Mining Indaba Conference on Twitter:
@CongoMines (https://twitter.com/CongoMines):
John Clarke, Banro: Twangiza to have a 14yr life of mine; Namoya required 420km of new road; next mine Lugushwa then Kamituga @MiningIndaba
MinMines Kabwelulu aux e'ses minières: le Code Minier actuel reste en vigueur. Pas de besoin de changer les business plans @MiningIndaba (Approx Translation: Mining Minister Kabwelulu to mining companies: the current Mining Code remains in force. No need to change business plans)
Did anybody comment here on the videos (just one for the moment) posted on Banro's website?
http://www.banro.com/investors/videos
I think it is pretty new, actually.
Good to see updates on their website.
I was expecting it to be announced this morning. Today is the Chinese New Year and this week is Holiday week in China.
If they are waiting for the docs to be signed and/or additional negotiations/simultaneous announcement,.. we should wait until next week, minimum.
GLTA
Banro CEO is presenting tomorrow, FEB 9th at 2PM local time, at the "Investment Discovery Forum"
https://www.eiseverywhere.com/ehome/index.php?eventid=119660&tabid=333477
"This forum is specifically designed for serious investment professionals who are eager to discover new investment opportunities, hear about industry developments, and discuss Africa’s investment climate and alternative emerging opportunities in the mining sector.
Now, as global economies strive to recover, investment professionals are seeking the new, alternative and immediate opportunities that allow them to strategically grow their portfolios. This forum is a highly-detailed and in-depth executive-level track focused on deal-making within the mining sector. It is for qualified investors and mining companies only and is designed to bring the top deal-makers in the African mining space together in a private setting. It will run as a parallel track to the Mining Indaba conference each afternoon and will provide investors with a dedicated venue to access detailed briefings on mining exploration companies on the continent. By respecting the investor's time and providing the information they need in the way they need to see it, this will allow opportunities to flow faster through the mining investment funnel and enable mineral exploration companies to increase their potential to successfully raise capital."
OK. Then, Google Finance is wrong.
Sorry about that!
Google Finance states GSS Market Cap is 189M, with 259.9M shares
https://www.google.com/finance?q=NYSEMKT%3AGSS&hl=en&ei=kbq0VsGuL4LLU-eLh7AG
That's "old" news. Article posted on 01-06-2016.
The deal might be done. I am pretty sure about it, but Chinese New Year is delaying the announcement (or at least this is what I hope).
Yes, I know. I also know that even if they have similar share prices their Market Cap is not comparable (BAA: 44M, GSS: 185M). Therefore, comparing both companies is not as straightforward as comparing share price ups and downs.
Anyway, I would like to see Banro with a much higher Market Cap (185M would be about 0.74USD/share)...
GLTA! Holding Long and Strong (but getting tired, day after day)!!
So tired...
BAA down 13%, GSS up 9%...
Huge buy in Frankfurt market (B8W).
190k shares traded. Highest volume in the last 12 months
https://www.google.com/finance?q=FRA%3AB8W&hl=en&ei=pLG0VtmbCcG_U-ijnogE
Any news?
Unemployement news?
U.S. unemployment rate fell to 4.9% in January, lowest level in 8 years. But job creation slowed to 151,000 jobs.
Does anybody know what Banro is doing in Mushinga mining site (Mukungwe area)?
From the last Africa Mining Intelligence:
"Mukungwe families bury the hatchet: A meeting organized by Banro Corporation at the end of November seems to have soothed tempers at the Mushinga mining site near Mukungwe. The meeting brought together youths from Mukugnwe, representatives of civil society, prominent families as welll as some political and security officials. The three families summoned to the gathering- the Chunus, the Rubangos and the Kurhengamuzinus - signed a oeace accord on the grounds of the Mushinga mine and reached agreement with diggers. That will enable Banro's earth-moving vehicles to resume operating at will in Walungu territory."
I found some reference regarding preliminary exploration but no reference on their website,...
http://bukavuonline.com/2013/10/walungu-banro-commence-lexploration-miniere-mukungwe-en-novembre-2013/
Anyone? More info on this?
Thanks fazlice for the update. Deal confirmation and PR is key for Banro's development. I am expecting it this week, as they are presenting next week at Investing in Mining Indaba conference and I am sure they want to attend the conferenece and meet new investors with confirmed news regarding the deal with Baiyin.
That forum could be the first platform to promote the company and try to increase share price. Gold will help too, and I am pretty sure that delisting won't be an issue (fingers crossed).
I am holding all my shares and hoping to hold them for a long-long period of time.
GLTA!!
We still need confirmation of the Chinese deal. They didn't confirm its signature. And the closing was expected to happen in January...
Let's see what happens
GLTA
Thanks for your input.
Let's see what happens...
GLTA!
100k blocks. Kind of big, if you compare them with the current trading volume, aren't they?
Interesting amount of blocks coming in. Buys or sells? Anyone?
TIA
By the way, does anybody know why they haven't updated their website with information regarding Namoya commercial production yet?
They posted the press release announcement but the main text is still the same: "The Namoya gold mine, scheduled to enter commercial production later in 2015, has production targets of 9,000 to 10,000 oz Au per month."
Banro will also be speaking at the Energy and Mines Conference in London later this month (Jan 28). This information is not at Banro website, though.
http://london.energyandmines.com/home/attendees/
http://london.energyandmines.com/speakers/
They will be speaking about:
JOINT CASE STUDY: LOWERING OPERATING COSTS AND BUILDING A LEGACY ASSET WITH RENEWABLES
Dan Bansah, Head of Projects & Operations, Banro Corporation
Keith Ainsley, Senior Engineer, Knight Piesold
Insight on Banro’s decision to invest in hydropower to lower energy costs for its operations in DRC
Financing options, development models and energy savings expectations
Additional benefits renewables can offer in boosting social license to operate and creating a legacy asset
http://london.energyandmines.com/agenda/
News out!!! Namoya commercial!!
VEEEEERY LONG 630K SHARES
Thanks Congo!
I've done some business with CITIC (not for the same non-ferrous metal division, though), and all that I can tell you guys, is that they are serious, they know what they are doing and they are not investing 100M USD in Banro just for fun.
Good luck to all longs!!
They have already followed a similar procedure with Gold One (australian mining company) some years ago. Baiyin bought first a 18% stake in Gold One and three months later, they bought it out.
http://www.bloomberg.com/news/articles/2011-05-16/chinese-state-investment-group-buys-gold-one-for-its-south-african-assets
$BAA Pre-market $0.21 @4:19AM EST
Just 5000 shares, I know... but it looks promising.
GLTA!!!
New pictures uploaded to Banro site
Namoya Gold Mine 4th Quarter, 2015
Banro Photo Gallery
Yes!! Thank you so much!!
Sorry guys but I couldn't delete a previous post...
GLTA!!
New insider buying. 100000 shares 3 days ago by Director Colson. 26800 CAD
http://www.dakotafinancialnews.com/new-insider-buying-for-october-16th-adge-af-ama-baa-bned-bpmx-crds-euk-evri-gnc/519856/
I am afraid this has to be an error.
33M is half the population of the whole DRC!!
I don't think that Banro, located far East from Kinshasa, is cleaning up all that water...
WINNER: Banro Corporation win the best performance in social investment. Award sponsor: Tractafric #iPADDRC15 http://t.co/mUAJL0Du83
IPAD DRC Mining Session with Banro CEO is starting right now in Kinshasa:
Session 1.3
Recent developments and updates within mining operators activities: case studies
Chairman: John Kanyoni, Vice President, Chamber of Mines, DRC
Hear about the current and future hot projects in the DRC from the most influential mining operators in the region. What are the difficulties and development opportunities for international companies already active in the DRC?
16:00 Project Update
• Mark Farren, Executive Vice President of Operations, Ivanhoe Mines, DRC
• Mark Bristow, CEO, Randgold Resources, UK
• John Clarke, CEO, Banro, Canada
They have just updated the webpage (they have just changed the text referring to a new September 2015 presentation).
Therefore, and sadly, I am not expecting any news regarding Namoya commercial production in the incoming weeks.
Even if text in the website says that the last presentation is from January 2015, there is a September 2015 presentation already uploaded:
http://www.banro.com/i/pdf/presentation.pdf
Is this one the one you are talking about, Congo?
The Seeking Alpha article referred yesterday is open to everybody now. Enjoy the reading!
http://seekingalpha.com/article/3537126-banro-commercial-production-at-namoya-will-be-key?app=1&auth_param=6ro:1b0l8cn:53b874db12b30fd677c66c94a731f307
Could you comment more on that? I couldn't get your idea.
Thanks,
Does anybody know what's Banro's policy regarding Preferred Share dividend payments?
I thought they were paying Preferred Share dividends at the end of September (on a 3-month basis) but they haven't announced any payment yet.
TIA
I know, but I would rather see BAA 30% up!! Pre-market or whatever!
And BAA down 4% pre-market....