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Hey Free Bee,
Haven't heard from you in awhile, may I ask what is your exit strategy for your investment for PW
Long terms? 10-15 years or short term? 1-2 years etc....
Sounds good spence, I don't know why they would do that.
I've been in the oil and gas industry for the past 10 years and my parents have been for all my life. I've been exposed to very good managment and very poor management.
Poor management won't last long but there are a list of very good individuals out there in different industries that love to get into a company with deficiencies and clean it all up.
I cannot tell you how bad some PUBLIC companies have screwed up on the execution of their projects in my field. Yes their PPS drops, one company I worked for dropped from $40 at peak to under $10 and they are currently re-structuring!
At the end of the day Banro whether 0.05, 0.10, 1.30, 5.00 PPS, it has a value, it's producing, it has assets, it has a vey good reserve base....BAA will not die and just dry up.....maybe it will take a few changes in management etc...
It was hard to swallow the PR the other day but there is no such thing as a perfect project, a perfect plan, perfect execution, it's how the company adapts and deals with the hiccups that reflect the future of this company.
I don't care too much, I have now around 40K shares (sure it's small but I just started playing with stocks begining of 2014) and I may just turn off the computer for a year and see where BAA is at that point.
anyways we all have personal lives and I would never point a finger at anyone who deciedes to sell or buy. Good luck to everyone here, whether we have a winner or a loser I don't know....but I definitely know there is some sort of VALUE in this company!
A cohort of mine says he talked with GDSM last week and he specfied that MJ Merchant may be on a holding pattern as any "potential" clients are waiting for the banks to finally accept the MJ industry, so that plan is in the water. My contact mentioned most likely there is no company that has even signed up or showed interest in MJ merchant as their are 10-20 other companies that are established and various credit unions that are helping the cause.
He also assumes that MJ Xchange will have a hard time with facilitating a substancial amount of advertising as I have always mentioned who would pay to advertise to 900 people with a forecast of 2000 peak members.
Also he assumes that GDSM did make a mistake of going to the first weedconference and not change the companies name to something more suitable, because there was allot of questions about the gold mining aspect. Why present the company is this fashion at the 1st and most important conference of the year
as for MJ aquisiton corp, no revenue generating business would ever sell to GDSM, it make no sense whatsoever. Plus Mike already mentioned he cannot start or takeover a dispensary, and that is the real money maker.
Also 420 concept might have to close down as infringment on copying another site concept 420, I emailed the other company already and they responded they were looking into it prior to my email.
GDSM please stop trying to copy other websites and their business plan
http://420concept.com/
http://www.concept420.com/
I appreciate some of the longs agreeing with me that GDSM will make absolutely no profit for the next 10-20 years as GDSM still have to pay out the Lovito's $5MM.....revenue for the company, I'm not sure but it will be closer to $200 than a MM that's for sure.
Also the trend of not supplying the public with financials will continue as they cannot release anything at this point as they are in the RED more than what people assume.
Also if you need proof of the above, please call Mike and just ask him
I was just joking about using the emergency fund. I have all the stock I'm confortably okay to lose, even if it goes to $0.
But I don't invest with assuming it may go to $0
I think BAA has allot going for them, a little hiccup in the big scheme of things will not derail a 10+ year company with two operating mines!
I'm holding for 2015 summer before I make any moves!
If I can accumulate here and there I will!
Just to keep it simple,
Measured and indicated "confident that the gold is there"
Inferred "maybe,
Most likely the gold is there, but not 100% confident
I wish I didn't invest in BAA.....UNTIL TODAY LOL (imagining averaging at these PPS)
My wife told me I cannot touch the emergency funds...I need to find another way.
Moosely mentioned donating blood...I'll look into it...
Go BAA
kills me to see another company Im invested in (in West Africa) is 30-35% more in terms of PPS and they haven't even pulled a 1/4oz of gold out of the ground!!!!!
RSI is at 32.40, anyone have a prediction when the blood bath will end?
August 13th - Banro Q2 Earnings Conference Call
LOL even 0.80 I'd be happy,
Oh well I guess I won't be able to do any landscaping this year LOL
I'm hurting inside but can't help but laugh
Just my opinion but I don't think Banro will even hit 100K oz of production from both mines combined this year
Thanks Profit,
It would be nice to hear what they have to say!
Yeah I'm trying to figure out how much additonal monies I can source to add more.
At the end of the day, this was a PPS of 0.50-.60 with the promise of namoya, I do understand and have empathy for any production facility to encounter hiccups etc...it's how they manage and adapt to the issues at the end of the day I guess.
The PR...even though it's hard to swallow, I have a feeling in the back of my mind the delivery and intent wasn't quite accidental. But who knows
I know it will eventully be fine
Anyways just purchased a small amount of shares this morning again, can't seem to stay away
Go BAA
I'm guessing this might be a good time to load up?
The rule for any public company which produces gold, oil, gas whatever SHOULD be to always under promise and over deliver.
This news wouldn't be so bad if it was a mine in Ontario Canada. But this is the Congo where BAA is already looked at as a very very risky investment, where in a heartbeat the government, the people etc...can make this company disappear tomorrow.
Anyways just peeved about the "OVER promise and UNDER-deliver" of the recent PR's, but I'll get over it.
I'd blame the communication between the technical personel that built namoya. I know how it is, designers, production, operations etc...not commuicating effectively with each other. CEO and vice presidents rely on these professionals to get this right, or at least close to right. How do you come up with a plan, with a basis of a specific capacity and then undersize all the equipment with not one department catching this etc....how do you not know your inlet conditions "finer material was much higher than the plant can process?" how can you build a plant from ground up without actually knowing your inlet design conditions? I can see operational issues with the interconnecting process but if you don't know what the hell is going into your plant your not going to get the remainder of the process correct.
I'm still holding all my shares until next year but pretty dissapointed
I am 100% correct, I expected more for some members to do better better DD
https://m.facebook.com/420Concept/photos/a.332791366876597.1073741829.330061137149620/333832913439109/?type=1&source=46&refid=17
I appreciate that even some longs here do agree, GDSM will not make 1 cent of profit and the PPS reflect that aswell
*slow clap, slow clap* well said!
Predicting over 100K oz for 2014 for twanziga is ridiculous, I don't even think both mines will hit 100K.
I am still long in BAA but quite disappointed
Im hoping...HOPING gold sky rockets from here on end (fingers crossed) LOL
I know there are hits and misses to everything in life, but kind of hard to swallow about the news about Namoya.
Looks like they will be closer to 90-100K Oz, they don't seem to hit their predicitons very well.
oh well what's another $22MM, at least it is running and they identified the issues
Go BAA
http://news.banro.com/press-releases/banro-provides-q2-2014-production-update-for-its-t-nyse-mkt-baa-201407090956701001
Twangiza Mine
Twangiza produced 21,431 ounces of gold in Q2 2014, an increase of 10.8% over the same quarter of 2013, despite rainfall affecting Twangiza in April. The dryer weather in May and June allowed for higher throughput resulting in an average quarterly production in line with the average quarterly production in 2013. The completion of the plant expansion program at Twangiza brings the throughput capacity to near the 1.7 million tonnes per annum range, however, quarterly target production may be closer to the annualized rate of 1.5 mtpa, with full capacity being reached under the most optimal conditions.
The Company has put several measures in place including the installation of a roof over the mill feed stockpile and ore handling area, which is scheduled to be completed prior to the start of the next wet period. This is designed to secure an acceptable amount of dry material to maintain steady plant throughput.
"With the advent of the dryer weather late in April, throughputs at Twangiza increased significantly resulting in higher monthly production in May and June compensating for the lower throughputs in April," commented CEO Dr. John Clarke. "We anticipate more consistent throughput and production rates now that we are seeing the full benefits of the plant expansion program completed in Q2 of this year."
Namoya Project
Commissioning commenced in May 2014 and continued through June 2014. As part of the pre-commercial gold production Namoya produced a total of 1,458 ounces of gold in the second quarter (65,858 tonnes of material processed at an average grade of 2.31 g/t Au, to both Heap Leach and CIL (Carbon-in-Leach) combined). Throughput was significantly less than planned due to two factors:
(1)The lack of availability of the mobile crushing and screening equipment for the heap leach,
(2)CIL throughput capacity restrictions of the designed and constructed plant - a number of critical components were installed in the new plant which have been found to be at a lower capacity than required for effective functioning.
Ore to the heap leach continued to be semi-agglomerated, supplied from Gravity/CIL oversize material (larger than 150 microns), supplemented by mobile crushing and screening.
Within the past few days, management has also determined that the Namoya plant is unable to run at design capacity due to the characteristics of the Namoya ore. Since the start of commissioning, the operation of the CIL circuit has been hampered by the excess quantity of fine material (smaller than 150 microns) in the material fed to the plant. The amount of fine material in the scrubbed ore exceeds the plant design; therefore the plant cannot efficiently process the higher quantity. As well, hot commissioning of the plant has indicated that some of the equipment in the wet portion of the circuit requires upgrading to raise the throughput to design capacity. Both of these are legacy issues carried over from decisions taken by an earlier management team.
The process plant was designed by MDM Engineering as a hybrid gravity/CIL and heap leach operation, where coarser material would be delivered to the heap and a significantly smaller quantity of finer material would undergo the gravity and CIL processes following scrubbing. During hot commissioning, the percentage of fine material was found to be much higher than the plant was designed to process, calling for a reassessment of the best method to utilize the plant, given the nature of the ore. Over the next few years, it is expected that the plant must handle a higher fines content than originally tested. Fines are expected to decrease later in the mine life.
To fully identify and understand the specific details of the plant with respect to the fines content of the ore, a gap analysis of each plant component has been undertaken. Short, medium and longer term strategies are being formulated to rectify the issues and optimize future operations at Namoya.
Short term strategy - continue to run the plant
The preferred short term strategy is to downsize the main Namoya operations to coincide with the maximum wet processing capacity of the gravity circuit which will mean processing less material than originally planned while modifications are made to the wet plant and allow time for a traditional agglomeration facility to be procured and installed, as part of the medium term strategy (to follow). Until an agglomeration plant is installed, mixing of the ore with cement will be conducted on the heap leach conveyors, as was the case with the earliest ore stacked onto the heap. This will not provide a fully agglomerated material but will allow operations to continue while upgrades are completed. Two ore streams will be mixed i.e. the +150 micron fraction from the washed and crushed ore of the installed MDM wet processing facility (ore stream 1) being mixed with additional unwashed crushed ore from a portable crusher (ore stream 2).
To achieve higher quality medium to long term heap leach operations it is proposed to install an agglomeration facility and make several other modifications to the existing plant. The cost to achieve the shorter term strategy is estimated to be roughly US$2 million (inclusive of all associated costs, labour and taxes) and the upgrade is expected to be completed in Q3 2014.
It is anticipated that Namoya average monthly production for Q3 2014 will be up to 3,000 oz per month and Q4 2014 up to 6,000 ounces per month.
Medium term strategy - increase plant throughput capacity
An upgrade of the current Gravity/CIL plant is under consideration in order to increase the throughput capacity of the fines size (-150um) fraction of the plant feed. This work will be carried out in parallel with the short term strategy outlined above. The cost for this portion of the strategy is estimated to be US$20 million to be spent over 10-12 months beginning in Q3 2014. After the short term additions and Gravity/CIL-related upgrade modifications are complete, Namoya will be capable of running at a throughput capacity of roughly 2.6mtpa.
For the first half of 2015, during completion of the medium term strategy, average monthly production of up to 5,000 ounces is anticipated.
Long term - optimization
Continue to improve and upgrade all plant components during Q3 and Q4 of 2015 to optimize production. Average monthly production for the second half of 2015 is anticipated at up to 8,000 ounces.
The Company is currently enhancing the operations team in the DRC and exploring financing options with major stakeholders to ensure that the short, medium and long term strategies may be carried out successfully.
Updated guidance for 2014
Namoya's 2014 forecast has been updated to take into consideration the short term strategy above,. It was also necessary to update Twangiza's full year forecast slightly to reflect the very wet start to the year and the reduced production which resulted. With this update to production, full year 2014 guidance is as follows:
Twangiza - 90,000 to 100,000 ounces
Namoya - 25,000 to 30,000 ounces
TOTAL - 115,000 to 130,000 ounces
GDSM will not make any revenue in 2014 or 2015, mark this.
GDSM is currently in debt in combination with the annual overhead (salaries, expenses etc.) will make this a fact!
That is why financials are and WILL NOT be released as GDSM is close to bankruptcy.
It doesn't take 2 years plus to do an audit, especially when there is noting to audit.
No company will pay for advertising on a site that has 900+ members, it doesn't make any sense.
Confirm with Mike he is quite easy to reach personally. I've spoken to Mike a few times about GDSM and all I can say is he is running out of options in the MJ industry and actually looking to get back into the mining sector.
If anyone doesn't believe me, Phone him, his contact info is on the PR's.
FYI at the convention I'm sure if someone ask the rep why is a mining company here at the weed conference, the rep most likely mentioned they are trying to do both sectors...
I believe this stock will be 0.0007 in 2035 minimum, realistically 2040.
GDSM MJXchange will have a peak membership of at least 2000 members but that's about it.
MJ Merchant will have ZERO clients as eventually banks/credit cards (if not already) will accept the MJ industry
As for 420 concept...this won't be an option for long...this won't make GDSM any profit.
MJ Aquisition corp, will be a dead end as mike already confirmed that residents can only own dispensaries and there is no one in their right mind that would sell their revenue generating business to GDSM at this early stage if the MJ industry.
I'll be holding strong for at least one year +, maybe by summer next year before I think of doing anything with my shares.
Hopefully by that time, they start paying a good amount to decrease their debt.
I don't really care to much about how the stock does in the next few months, I just want BAA to pay their debt, once the debt is gone I think sky is the limit....
LOL I'd be happy to see $1.00 - 2.00 Next year
I know,
The events section was deleted previously on the Banro Website, but I grabbed a copy of it.
Big dates coming up!
July 10, 2014 - Q2 2014 Production Numbers Released
August 13, 2014 - Q2 Earning conference Call
September 21-24 - Denver Gold Forum
Go BAA
I'm exaggerating if you can read between the lines, anyways GDSM is not a costco, start ups claw hand and foot to get their product into Costco. GDSM is the one begging to sell anyone products, they will be selling socks and gumballs very soon with their logo on it just to appease the shareholder.
You don't need a public company to start a 900 Member website, you don't need a public company to start up a MJ Merchant it 420concept. This is very basic concepts that can be done in the basement of someone's house which is where it most likely is. mike has no office for GDSM, it's a post office address...revenue this year..$200-$300...profit...absolutely NoNe!!! zERo. Their are real business out there, this is not one of them
Exactly, that means GDSM make almost nil, so they sell $1000.00 dollars in June, that'll get them $50-$100. FYI check other sites the same goods are sold cheaper...do some dD guys, 420 concept is making money for the wholesaler, not GDSM. And MJ Xchange with 900 members, I thought this was the next Facebook, next Instagram, next big thing...Instagram had 2 million users in 2 months, MJ Xchange is a nothing burger without the mustard! That's why PPS is where it is. As for MJerchant....zEro clients...go ask mike he will tell you
GDSM with under 1000 members on MJXchange
With ZERO clients for MJ Merchant (if anyone on board refutes this, than you were not at weed conference and feel free to call Mike, he answers all his calls)
FYI to some post saying That how can I specify that revenue is a few hundred dollars in terms of $400 concept, becuase the purchased $200.00 worth the first day....GDSM makes 0.5-1% c'mon guys you really think they make 100% of what GDSM sells online???
FYI - yes 420concept in the hundreds of dollars in revenue for 2014
Go GDSM, to the moon, the new Facebook of MJ, the new Walmart of MJ, the American Express of MJ
Beware investors this is what they are saying about the company but the Pps is...well you know...
I beleive GDSM will make absolutely no profit (honestly maybe $23 -$26.50 revenue this year)
GDSM site http://www.420concept.com/
Basically same site, but it has integrated both the marketplace and social networking
http://www.concept420.com/
GDSM is just copying the same business plan as other because Mike knows nothing more about this industry to be a innovative and original. Mike even bascially copied the name. (I'll send a email to the original company and hopefully they try to make GDSM change the name)
Best and most popular MJ forum on the web is http://www.grasscity.com
Lastly for all the members on Ihub that really believes that MJ Merchant is original (credit card processing) all you need to do is google and you will find that GDSM was not the inovator but followed suit.
http://www.denverrelief.com/membership-payment.php
http://www.thcbiz.com/directory/cannabis-business-services/payment-processing.html
http://www.huffingtonpost.com/2014/05/07/colorado-marijuana-banking_n_5284442.html
http://www.theguardian.com/world/2014/may/08/colorado-marijuana-banks-legal-finance-rules
That is why the PPS is not moving, GDSM is doing ABSOLUTELY nothing new, a few members keep referencing DD but they didn't even know that People questioned the companies name GOLD COAST MINING at the weedconference, one member proclaimed that the banner Mike put up on his facebook was actually fake. Even the member thought this was a bad idea to spell out GDSM. Then the post came out from GDSM own FB page and they knew I was 100% CORRECT!
The PPS reflects the innovation and passion of the company...which is close to Nil
Google MJ Social Networking or forums you won't find MJ X change
Google MJ Goods, supplies etc...etc... you won't find GDSM 420 Concept, LOL you will actually find the other site with the same name
Google MJ Merchant Processing, you definitely won't find GDSM site
First rule in this new age of technology, make yourself known. If you don't have a clear open access to search engines, how can you do business? how can you do a business when you ethically and morally don't believe in it as Mike specified in his previous PR
http://finance.yahoo.com/news/gold-coast-mining-announces-corporate-130000061.html
Hope they increase their business development in the states, you guys need it, I thought we had pretty bad infrastructure here in Canada but wow oh wow, not as regulated as you think in the US. SYD will definitely be beneficial
With all the regulatory and environment in the forefront, I'm hoping SYD will do well. Not 100% Long but looking for this to hit mid to high 30's to cash in. Maybe leave some for long!
Good flip here, bottom is 26's
Go SYD!!!
https://m.facebook.com/420Concept/photos/a.332791366876597.1073741829.330061137149620/333832913439109/?type=1&source=46&refid=17
Pics from the Facebook 420 Concept 100% shows the flyer GDSM distributed at weedstock conference and it does specify the company FULL NAME.
As per my previous POST I was also 100% correct when I specified GDSM was not "presenting" but rather had a booth.
This is an 800 member website which sells pens, vaporizers and energy drinks and has a merchant site with no clients as of yet...the PPS reflects the business, the business plan, strategy and execution is where it is, a carbon copy of other companies.
I don't believe the weed conference will do anything substancial for GDSM, I talked with a cohort who is a manufacturer of Hydroponic supplies such as LED, reflectors and Balast attending the conference.
He mentioned he belives he seen the booth for GDSM (he noticed it because he was confused as it was GOLD COAST MINING and wasn't sure about the meaning behind the name, I told him it was the original company name, he laughed and mentioned they should change the name before advertising in an important conference like this) but he mentioned he wasn't very interested in what the person at the booth was trying to deliver as he doesn't believe the products they offer were beneficial to his company at this time. He mentioned whomever was at the booth was not capitvating enough and seemed out of place, wasn't passionate of the true movement of the MJ industry. He did mention the booth itself was not in a high traffic area.
Does anyone know if Mike is there or was it GDSM PR person?
hmmmm don't know how much they get their diesel fuel in congo? but maybe 1/2 million + a month for 600,000 Litres plus???? not to mention cost of hauling, operations etc...for handling.
Just read that "congo has the fifth largest natural gas reserve in Sub-Saharan Africa, at 3.2 Tcf, A majority of natural gas around 65% is reinjected and 21% flared."
If I was Banro I would talk with the producer in the area, pipeline some fuel gas over, this would limit the % flared for the producer, pipeline will pay itself at the end of the day. Good for both parties.
That's the great thing about a project I am doing in Africa, we have some genset we are installing, they are dual fueled. We found a producer that is dying to give up it's fuel gas because they have to limit their flaring and it's creating limitation on their operational side. At this present time they are giving it away free.
I'm not sure they have any real options, too bad the mines were not closer to Chad as there is a company there that is just giving away their fuel gas. This would be the most inexpensive option, but there is always government issues even within one province.
Would run a 3" pipeline, add a fuel gas kit to the generators, keep the diesel tanks as a secondary if fuel gas gets cut off from the source and your good to go.
I don't know the diesel usage or cost but the pipeline itself may pay for itself no matter what.
I'm sure solar is an option but that too has it's downsides.
After reviewing MJ-Xchange the aura even from most of the investors have faded. Now people are logging in and asked to post for the sake of posting with that mindset, MJ Xchange will not last.
The social experiment is over.
GDSM is 100% NOT Presenting, I called too and they confirmed they were a PAID sponser to have their banner up but not presenting at all. They did pay to have a booth.
You can view the entire agenda for the conference on their very own website.
FACTS PLEASE
http://www.weedstockconference.com/agenda.html
http://www.weedstockconference.com/ws-agenda.pdf
If you look at previous PR, Mike was not even fond of even entering the MJ Industry or morally supportive of the cause
http://finance.yahoo.com/news/gold-coast-mining-announces-corporate-130000061.html