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Gents / Ladies - Please keep this Banro board only. Will delete everything and anything not BAA / gold related.
Just giving you a hard time :)
mhmmmmm ~_^
Lots of folks just stading on sidelines and paying attention what is going on. And yes, lots of folks on this board flippings. Tex, JJ8 and many more that probably arent even disclosing.
Yes - some one with 300-400K shares now can manipulate the price. also, volume is very low. When we saw a steady increase in BAA, volume was very high. In addition, this new floor until earnings come out is good for us. before next leg up
some one is trying to trigger more stop losses to pick up cheap shares. Nice -
Yes combined. 2018 approx 250k
Current ceo didnt sell so who give a crap? He probably doesnt know whats going on anymore
Mine is due 7-14 :) awesome!
When is ur wife due?
.41 close- not bad with gold dropping. GSS tanked 11-12%, everything else. I think it held up pretty good.
Thoughts ?
450-500K OZ
All gold stocks are down. Every single one. Gold dropped 20$ an Oz.. interesting...
Thank you and Tex for thinking that Moderators are good here.. If we are so good, throw approx 10K shares my way and we call it a day :)
But - John Clarke didnt sell any. Old CEO did. who got kicked..
Thank you kind sir but, i think Market determined the price. I did not do anything for it :)
Thanks all for replies. Thanks Team. I am really hoping that they have a strong positive earnings for Q2. Its going to be interesting.
Its up to the external auditor because they are putting their name on the audit reports.
E-Mail from Martin / Kevin -
Question is long as heck,i will post that later but here are their response to an event yesterday:
Dear XXXX,
The events discussed int he press release are simply normal course of business. Each month, we pay down an average of $2.5 million short-term debt, and, to ensure we have adequate operating funds, from time-to-time, we renew short-term debt. Normally, this event would not be disclosed in a press release. In this case however, the loan was with a related party and required a disclosure.
Whether or not the impairment charge is reversed is effectively a decision of our outside auditors.
//*************************
So each month they are paying down debt. This makes me feel better. And short term debt at that. So last 3 months 7.5 M short term debt is gone. Which is great for their balance sheet.
Now, how come we didnt know that each month they are paying down debt ? In addition, if they have the cash to pay down debt, that means they had at least last Q 7.5 M and some left over from gold sales, which indicates a positive EPS for Q2, unless external auditors ding them on impairment charge again.
TeamTOC and everyone - thoughts ?
Team - I fired of an email last night to Martin and Kevin to see why more money is needed right now, and since when Banro is mining silver. I was pretty straight forward in the email so we will see if even I get a response this time :)
Those are all good points however, if they are starting to mine silver, they need to tell us. Unless Dore Ore market prices > refinery costs.
Didnt ping him yet. Will do once i get home tonight.
Understand that and your right. But , why do they need this money now ? Since financing early this year, and price of gold up 170 $ per OZ, wouldn't you think they would have enough cash on hand after 50 M in expenses?
49673 * average 1260 = ~ 62.59M. - 50 M in expenses would leave them
Approximate 12 M . Even if its 10 M cash...
Why more is needed, thats beyond me .
Yea the problem is, lots of folks exiting and selling. Lots. Very sad, sad to see they are in need of additional 10 Million, when they received 100 this year.
yep, down we go. Of course they manage to eff something up.
Neither do I. I wonder if they have stock pile of this, and didnt know what to do with it ?
But i dont see this as a loan... not they are selling regular gold bars.. Its Dore Ore.. Mixture of Silver / Gold.. If it adds to their profits, why not ? If it was just sitting in a warehouse somewhere..
Every time, every time stock goes up, gold price goes up, they manage to take it down. I have to admit gents, october 14th is my LT .. they have 3 months to get their stuff together or a damn good explanations on earnings call about this.
Yea but its just interesting... We will see what happens this week.
WE will see. Why dont you email banro about this ? Let us know what they say. I am curious about their EPS this Q and see what happens. I am curious how come we didnt know that they have dore ore. But, at least its not a forward gold streaming agreement..
Huge drop on the open. Lets see where the day takes us.
This might be good for Banro. The way i see it, if they have anything that they can sell, which now apparently they have silver, why not get paid for it and of course, to keep good relations with Bayin, goes to them first. Gold dore = silver / gold mix. Not sure of quantity, then it goes to where ever for further processing. Hmm.. So now just gold bars they are selling, now they are selling a mixture of both. Or i wonder if they are using lower grade gold dust to mix with silver and sell it that way too. Interesting - I will Email Kevin and Martin Later today.
Yes so mixture of gold / silver. I wonder if they are recieving silver as well as gold in their digging, therefore they mix in a bit of gold, then sell at higher prices then what silver is.. This is quite interesting as i never heard of gold dore before..
I guess namoya expansion and Twagaiza cost a lot more than anticipated..why are they needing this now..or are they trying just to sell gold dore period..
Hmm No idea - this is interesting..
https://www.banro.com/news-events/news-releases/banro-enters-into-gold-dore-purchase-and-financing-20160718
Yea this action is deffinetely interesting. Everytime it goes up, comes down hard like a rock. With people selling, we are still staying at damn good levels. This is going to be interesting by EOY.
Nice! One thing for sure, pre market and after market trading for this entire week. I dont remember it ever doing this before.
500 shares pre market dropped, omg, what to do what to do..
Who is he ?
Consolidation before next leg up ?
Lol - wishful thinking ?