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Its been like this for over 2 years :) -
Lets see how this plays out with gold, election, etc.. I know you were thinking about leaving few weeks ago, did you sell ?
You and me both kind sir - no news, low volume, this to me looks like games are being played
Why do you say that ? volume is 300k.. If volume was much larger, i would think something is up. Do you realize if i dropped 500K right now, stock would go down minimum 10% ?
We will see what happens,
E-mail From Martin :
Question posted :
"Laurie , thank you kindly for your previous response, much appreciated. If you dont mind me asking - what is Banro doing to re-assure shareholders due to recent price action drop, that the company is on right track for debt-refinance bond payment due in early 2017, and also in line to meet their production numbers by end of 2016? What about publicly promotion of Banro that was announced in upcoming months? We haven't seen anything.
Email got forwarded directly to Martin and he responded with the following :
"XXXX - You can look forward to press releases on these issues in the days and weeks ahead.
Martin"
This tells me something is cooking. COOKING!
There are deffinetely buyers today. 120k picked up earlier on and small blocks too.
this is hilarious, seems to me every time bid / ask spread gets thinner, some one sells at that exact time to hit that bid. some one definitely wants cheapies. Now its too obvious.
so last few days / weeks i observed with low volume, that couple traders with 150-200k shares can easily manipulate this down. interesting
GDP data is out, us economy grew 2.9%. Before the revision
Hmm i didnt get a link brother. I will try to scroll through old messages
Yep - bid ask spreqd too big
LOL - that made me laugh out loud :)
All gold stocks are down on my list. Baa just easy to manipulate
Just got confirmation from Laurie - New CFO announcement next week.
Good for you! We will see. This looks to me like a Calm before the storm
Gotta love manipulators.. Low volume..
Hey TEAM! Nothing new here bud, just being a new dad. Things are pretty quiet. Seems to me something is cooking, its too quiet. Not many folk selling, folks who wanted to exit already exited. When i spoke to Martin, he seemed positive. I do think EPS will be negative however, i think CFO announcement, bond refinance will be huge. That's why Kevin isn't selling his shares. Also , Q4 production, if its anywhere where it needs to be, 35k per mine, will be a blow out, therefore they will meet lower end of their guidance. One thing i know, things are very interesting.
hope you are doing well my friend
50 shares... lol. Some one playing tricks
cant read you - are you positive, negative ? do you hold? bidding low trying to get in ?
Interesting action today
Some folks exiting - gold price doesnt help
Miners overall are down. Cfo first, then bond refinance. We can evaluate then. To me this stricky looks movement with gold price. However, eventually this will attract more folks. Holding till q1 2017 since my lt is up now.
Explain please
E-Mail from Martin:
Xxxx-see answers below in red.
Martin, hope all is well.
First of all, thank you guys very much for everything you guys have done for Banro. As a LT investor, I have a few questions regarding recent production numbers.
What were the primary contributors to lower production than estimated , 60% in H2 compare to entire H2 expected production is closer to 60K OZ + each quarter.
The poor recovery rates at Twangiza were the primary reason for the shortfall. This was anticipated by metallurgical testing and the Mine Plan, and was to have been compensated for the addition of new crushing equipment. Unfortunately, the supplier failed to complete and deliver the equipment in the 3rd quarter as agreed. This equipment will be installed this quarter.
What steps is Banro taking to ensure production levels are met ?
The Company is confident that it can meet guidance for 2016. Our mine plan indicates a very strong fourth quarter, based primarily on stripping ratios, recovery rates and gold grades to be mined. The mine plan has been accurate in projecting those factors through the first three quarters. The unexpected shortfall in Twangiza production in the 3rd quarter resulted from an unforeseeable incident, as noted above. Among the factors contributing to an anticipated fourth quarter performance was the progress in removing overburden at Twangiza during the third quarter and the continuing work that has been done at Namoya to ameliorate the impact of the rainy season.
What is the status on new CFO ?
The search committee is moving forward with this.
I know you cant disclose a lot of information, however, what is the status on BOND refinance ? Will we hear something about it before end of 2016 ?
Discussions on the bond refinancing are progressing. We certainly anticipate being able to announce a refinancing before the end of 2016.
Thanks in Advance,
That is outstanding and amazing news congo! You will do great!
He flipped or add at lower price to take his average down per share by 2 cents
Sorry for not posting sooner. We welcomed a baby girl to our family Oct 7th :). Our first.
I am still holding. Today is my LT investment. I see lots of potential with Bond refinance, New CFO announcement soon, and we will see how Q4 comes in. I am expecting negative EPS which will hurt a little bit but, i think they have a game plan.
They are in a bind. We will see.they will have to sell some of the excess gold not sold last q to break even or limit negative eps.
Team- i think you should fire off an email to ir asking these questions
Negative eps for q3 is likely. Totally understand your points. Email to their ir is needed
Very dissapointed about results. We will see how markets reacts. Wondering about the same thing so hopefully very soon.
I think we will see it wensday
From Laurie:
We will issue a press release with production results next week. We are still in the last stages of interviewing for the position of CFO and will update the market when a decision has been reached.
Regards,
__________________
Laurie Bahen
Office Administrator
1 First Canadian Place, suite 7070
100 King Street West P.O. Box 419
Toronto, Ontario, Canada, M5X 1E3
Not wealthy at all. This would be a road towards that . Lots at stake for me here as well. Just trying not to make an emotional decision that i might regret
Thats ok - let him exit. He took a loss on his shares . Flippers are going to flip now more then ever. Best time to do so.
You exited already ?
Yea gold went down 100$ +. Look at the entire mining sector over all.
Also look at au- almost 23 $ per share two monthso ago in august. Now 13.66
Ok -good luck. You knew they had issues going in, now they are being resolved one by one. Good luck tron-
Fyi- i could have exited at .47 with 110% gains. Still holding . October 14th long term holding here with all shares. I think this will work out. Wont happen overnight
I am still holding. They are interviewing, production around corner. 60k + is great to me. Look at all miners snd big boys, -20% +. This is sector wide
I believe that this drop is strictly due to gold prices. This week has been brutal for miners. Production hopefully will be decent.
Yea we will see. I dont get it but , we will see. Waiting anxiously for production numbers to come out. Lets go mid 60k oz.