WoW this board got completely wiped from existence from the header to old moderators to creator to even veterans. Oh well... no since digging up old bones and laminating the death. Rest in Peace WU.

Still Jazzed about this stock but now its going to .55
if gold doesn't turn around or find a floor soon....and if it doesn't it will hit .24 and they will use that chance to do a R/S and reduce float.

Lake Shore is on an Exploration Roll

http://seekingalpha.com/article/2582305-update-lake-shore-gold-is-on-an-exploration-roll

Lake Shore Gold Confirms and Extends S2 Fold Nose Mineralization at Timmins Deposit, Continues Evaluation of High-Grade Gold Mineralization Southwest of Thunder Creek in 144 Gap
http://finance.yahoo.com/news/lake-shore-gold-confirms-extends-211500120.html

JohnCM you are now my official market maker of when to buy/sell Banro
you were not a buyer from the .90's all the way down to .12 the last year and then you started buying and posting again.... you got this one down cold so .....great job.

Pretty impressive just need the market to appreciate it ...

Pretty Jazzed about this Company

went for a couple years shoring up financing, micromanaging operations and trying to expand resources... now they are saying they should touch or beat high end of production, lowering all in costs and expanded new resources.... wow just perfect with Gold moving up because everyone finally relized that financial news outlets are full of crap and Gold/Silver is really the only real safe haven.

I don't think there is anything like that here.

Dont buy anymore until board members/insiders do
and i dont mean warrants or swapping shares to pay back debt. I mean insiders using their own cash and buying 10's of millions of shares... when they do this whether its at .12 or .01 then its safe to buy because even at this level they still havent been willing to put one dime of their own money back into Banro with exception of the Dr Clarke and he only bought 380,000 shares. The new directors and the new chairman have yet to show interest in their own company. So just wait until they show confidence first.

Well i do love your enthusiasm at least.

ITs pretty simple ...

Banro needs to produce "more" gold now. They have the deposits and the permits and with spot gold price decreasing all any Gold miner would have to do is just increase output to up revenue. In there lies the catch 22 for banro. They lowered production for this year because of Namoya and the upgrades to twangiza are yet to be tested...so...thats still debatable that twangiza will hit projections.
So with all that locked even though they have been consistently lowering all in costs..the price of spot gold by decreasing is taking the icing off the cake essentially. This in turn gives no positive catalyst to the PPS'S current trend. All technical aspects are really out of play since the fundamentals are still trying to be corrected. All the financing and debt does is add to the years that it will take banro to correct and the PPS to go up...that timeline is effected by the speed of operations correcting,costs and Spot Gold price rising/lowering ...that about it.

Just wait at this rate you can buy 200,000 at 6 pennies...

not that i want it to go there but i watch it daily still and it seems like a complete flush is coming.. before earnings or the news on Namoya Fix.

i did buy some LSG under a Buck that I'm very happy with... thats where banro should be sitting right now if not for all our trouble.

wow .19 cents...very tempted...

Now that i won't be assassinated by the wash rule ... I'm seriously considering Banro... just waiting for a legit report on Namoya and how much it will cost to fix...how much total debt they now have and outstanding shares.... if i can get that in front of me and not worry that Management will decide that its best to R/S which i dont think they will do because thats a quick fix to the share structure.... so wait a little longer..we do have time with this one regardless.

Don Has created a new web sight....

http://wealthcampus.com

He sent me an email several weeks ago. Doubt anyone will see him on here again.

and p.s.

a bollinger band is a chart overlay that shows the upper and lower limits of price movements based on standard deviation of prices and can be structured in ranges based on minute to yearly setups.

TeeHee whos got their smartypants onnnnn?

Best post of the month IMO

practical-realistic-factual... thanks

No i dont think they would do that...
they are doing a lot of light exploring... so... possibly some of the new samples coming out are good enough to have someone give them a nice big loan to finish Namoya and start Kam and Lugi? Thats a long shot but yet another possibility?
The good news is... all that gold is still there and they own the land so in retrospect if they can stretch out all this another couple years things should wash out... just not this year which in 2012 this was suppose to be the year Banro took off...maybe 2015 or 2016?

well #1 long as twangiza continue to produce like it does #2 Gold stays above $1200 an ounce
and #3 they continue to reduce All in Costs then yes cash flows coming in are sustaining the company on a weekly basis.
But what I'm wondering is what did they use that 10 Million+ on the last 4 or 5 months? Are they still running a cash burn of a million or two million a month? Are the preferreds being paid from this? What is the costs associated with CIBC and Kappes Cassiday and Associates ? Is that where it went to pay them?
Regardless their burn rate is increasing enough to eat up reserves...and Namoya fix is going to add to that going forward but at least they offset bonds and payments to banks till next year so they won't be going out of business...but this is going to take a long time to climb out of this hole.
They will have to either Raise additional capital by either issuing more debt(BONDS), Preferreds(more LTdebt to rich insiders)which they will have to pay a % and run the risk of them later selling shares at some point, or get MM's to move the stock price up to .50 maybe and dilute another 25 to 50 million shares to raise cash....
Two catalysts where they wouldn't have to do that: Gold goes on up over $1400.00 and ounce and stays over that then they wouldn't really need to do any of that.
Namoya isn't as expensive as assumed to bring up to capacity and starts producing higher throughputs then.. again they may not have to do any of that.

Wait and see.

A better quarter except for Cash on Hand and Namoya Speed


At the close of Q1 we had a cash position of $17.4 million.
http://seekingalpha.com/article/2217973-banros-baa-ceo-john-clarke-on-q1-2014-results-earnings-call-transcript?page=3

Cash and cash equivalents of $6.5 million at June 30, 2014 ($4.5 million at December 31, 2013)
http://finance.yahoo.com/news/banro-announces-q2-2014-financial-002505316.html

Other than that they lowered all in costs, Twangiza produced more despite April reducing production.
Still lost a penny but it could have been a lot worse. So ...still a wait and see. Gold Spot not an issue anymore even below $1300.00 an ounce since they continue to lower all in costs consistently. IMO

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Wet Seal announces their newest Model

http://www.standardnewswire.com/news/230079487.html Grace McCullough

Thats what im saying they make money regardless if the stock performs or not while we can make money only two ways as common shareholders and one of those ways isnt really viable anymore because the stock price has shrunk so much. The only way most retail investors can make money on Banro is for the PPS to go up. But Grammercy while they arent seeing whatever common shares appreciate... they arent too concerned because they make money from fees and interest and all the other ways you posted about. Sad thing is their holdings cant be affected by a reverse split if that happens like some on here are predicting. I dont think that will happen but i think the stock is going to drift here or lower for the next year or so. Plenty of time to build into it if one so choses.

While i am on your side about this whole thing...
Grammercy didnt actually invest they did a finance deal with Banro. They are getting a sweet rate, preferreds and options. Their money is setup two fold. One they get a payment from banro and they also can get free preferred shares. They did buy common stock months back but they have also sold positions to show a tax loss and then bought back. While i dissagree with the article i think banro will stay around...its just at what price and for how long will it stay there based on Namoya Situation and Gold spot price.
Who knows? a dollar? a Nickle?
175 million in debt or 350 million?
OS 252,100,672. Options, 13,287,645. Warrants,
8,400,000. Broker Warrants, 735,000. Preference Shares, 55,252,0001 or will these figures go much much higher? or much much lower?
Hard to say they have some tough choices to make and i think they are looking at CIBC and MRG and saying take your time. I would say at least 60 to 90 days to get a full report back to us.

Everything started to change with this article
http://www.bloomberg.com/news/2014-07-11/banro-tumbles-as-congo-gold-mine-projections-fall-canada-credit.html

This came out a day or two later after they lowered full year guidence in tonnes for 2014
The reality is most of the numbers that we have all rehashed over and over and the ones i used from braised in the past was that we needed Gold to continue up to at least $1400.00 an ounce and Namoya to operate out of the gate not flawlessly but at least hit projected tonnes by year end.
After that date and article everything is now in question with banro.
It made everything Liberty was spewing and we thought were lies to be possibly true now. At least partially true. I now question if Dr.Clarke is the right choice because things have been fumbled so badly and i feel some things were allowed to be keep quiet until they had to be revealed like the trouble with Namoya. They cant honestly say they didnt know what was going on after the first hot commissioning in dec of 2013... especially as each month went by and things in the process didnt change as they were milling.6 months of milling and then boom...welp we have a problem. i dont buy that.But okay ill let it go because meanwhile Twangiza is going great...but because of all this now everyone is looking at the rainy season approaching at the end of the year and unsure if the modifications made to twangiza "will?" work ..
this is the price current management must pay for consistantly messing up the pie recipe. You got a great ovens,one of kind pie,skilled bakers, and hungry paying customers...whoops forgot the eggs, opps too much sugar, yikes dropped the pie on the floor...
Now what they have is most of us have ran out of patience.Last year was suppose to be the year,then this year for sure, now next year..maybe-if-possibly-we can hopefully maybe do this... so here we are.
We are all smart enough to know that there are only a few scenerios that will keep them going.
#1 They now need more money
so they either dilute another 30 million shares, sell more preferreds at embarrashing prices,go into more debt and refinance again against assets, or pay as they go.
It looks to me they will...pay as they go. They still had about 18 million in cash i think so they will add heap leaches to namoya and do that for the next 6 to 9 months. Will something else happen? will weather suddenly affect namoya? dont know..but with their luck.
CIBC and this Group they hired to assess the mine will give them the numbers they need and it will probably be more expensive than we thought.
Stop the reverse split nonsense.. because on their exchange its a non-issue as long as market cap doesnt shrink too much i believe.
They do need to consider selling some of the claims beyond the original 4 mines they have planned... that would really loosen the cash for them...but as stubborn as some men can be i dont see them wanting to let go. IMO opinion we will drift like this for months but if gold gets weak thats the only nail in our coffin.

She is.. She has a long tenor and helped with the PacSun turnaround. Also been with Abercrombie & Fitch. I think that's a nice hire for WetSeal . IMO

BAA Banro's board of directors has engaged CIBC World Markets as well as Mining Research to assist and advise the co in review of optimization of Namoya gold plant and assessing financial requirements of co (0.25 )

Co provided a corporate update in respect of its financial requirements.

Over the past several weeks, Banro has been evaluating options for the optimization of the Namoya gold plant and assessing the financial requirements of the Company for the upcoming months to implement the strategy outlined in the July 9, 2014 press release. In conjunction with this process, Banro's board of directors has engaged CIBC World Markets as well as Mining Research, an affiliate of HanOcci Capital Partners, to assist and advise the co in this review.

Just saying hi have to wait 30 days .. Wash rules & all
And I think there is time. The last two weeks I have made back over 10 grand swing trading so I suspect I should be by the end of August right back where I was in April before I bought banro... Then I will try again maybe.. Still read the board everyday just nothing to add really.

The update to the board header is nice.
Plenty of good information..well done.

Please be respectful and nice

i have gotten some condescending private messages today. I can't help that things out of my control went against my banro trade and for my situation felt the need to sell. I am a trader and you win some... you lose some.. the money i lost i easily made a few months ago on another trade.
I still like banro i still think there are many positives but this curve ball from management on Namoya is an issue for me. I do not have a payed membership so i can't respond privately but i have gotten some wacky p.m.'s. and some folks seem upset either at me or banro.
I am not like some jerks who now what to bash banro and try to punish them. Its just a trade no big deal and if banro gets this hiccup ironed out... then i will buy back in so lets grow up a little folks.Im not gonna get a dozen aliases and start the we hate banro club. I just move on and wait to see if fundamentals get fixed so i can buy again. Anyways much love to all those who know better.

Well i got stopped out yesterday at .38 & thats all i was willing to go down to
We should be sitting at a $1 now with gold where it at and with Banros all in costs where they are but everything that has happened this week is leaving us in a fog. All i can translate is that the New Namoya Mill is basically not able to work at full capacity and they are having to spend millions more to heap leach...but that isn't even the brunt of it. What gets me is that Dr Clarke just pops out the mess and then blames previous management? noooo no no he was there to finish Namoya which was started under Simon Villages watch..he should know what going on directly and if he relied on a field manager for bad soil tests....well...then he is not what i thought he was... Now like braised eluded to earlier they need 20 million they dont have and will take them over the top on their loans unless they pay extra in advance or take all the profit for the 2nd/3rd/4th quarter to pay for it.
Im looking at LSG now... they have got their internals heading in the right direction. But i will watch Banro carefully to see what happens. Still has the gold,the mines, and twangiza...lets see what happens. IF gold continues up higher then they just got a big break and its a steal down here. IF gold tops here and goes sideways then they will still get it right but its next year at the earliest, If gold goes down(which i dont believe will happen) then Banro needs to sell itself.

That is the best post of the day
And the one that scares-me the most. Informative and true lord help themif the fine particle gumming up namoya goes into the rainy season and twangiza starts having.. Eghmmmm issues even though they promised it's been dealt with now...I don't know what to believe

Oh well maybe next year for me.........

This scenario that braised posted long ago is still viable:

First lets speculate current Gold bullion spot price at $1300.00 multiplied times the mining industry average valuation per dollar of resource ounce which is also used in acquisitions. I believe its 19.5% so Spot Price $1300.00 x 19.5%= $253.50 Lets conservatively estimate that Banro has 10 million ounces in resources that's just over a $2.5 billion valuation. They now have 276 million shares fully diluted. $2,535,000,000.00 divided by 276 million=$9.18 a share

Lets speculate that they dilutes more to 315 million that puts them at $8.05 a share. Lets Speculate that our Federal Reserve completes the Brainwash of every American and Gold falls to $1100.00 and ounce. Lets speculate that because they are in the DRC and this has always been a Low Hanging Cloud on Banro since the 1990's that the purchase metric is cut in half to 9.75%.... that's $1100/ounce x's 9.75%= $107.25 per resource ounces.

Lets make it worse by speculating that Banro can only get HALF of their quoted resources out of the mines. 5million ounces x's $107.25 = $536.25 million and we will retain speculated further dilution of 315 million shares this equals out to $1.70 a share and that's if Banro completely has everything go against them price.

This would be an excellent time for someone to attempt a takeover....

Just Remember Twangiza is the star here. :) Namoya is just getting started and management has been lowering All in Costs, opened a second mine, upgraded a first, did it all with gold falling down to 1150

This was only bad news to those who wanted Namoya to go off without a hitch.. most on here havent even said a thing about twangiza getting better and better and the upgrades are in place so that when the rainy season starts this year...it shouldn't affect tonnes as much. But lets focus on only the negative...that instead of 8000 ounces Namoya(which didn't exist last year) is only going to pull 4000 ounces until the second gravity heap leach is installed .

Price of Gold surging this morning.. might not matter anyways.

i agree... a second gravity heap leach will get Namoya tonnes closer to projected tonnes level. They are still getting gold out of namoya just not as fast because crushers are way faster than the gravity ones...i have read a lot of material over the last few months i have owned this and know more about gold mining that i had planned. I wish they could have turned on the new crusher and bang 8000 to 10000 ounces from namoya first time but....its better to have that crusher going forward as they dig down into namoya and eventually get into harder sentiments.

Briefing worded things positively the rest of the market thinks that opening a second mine regardless is good and their main mine is growing
16:40 BAA Banro Provides Q2 2014 production update for its Twangiza Gold Mine, DRC, and detailed Namoya Operations Overview; Twangiza produced 21,431 ounces of gold in Q2 2014, an increase of 10.8% over the same quarter of 2013 (0.48 +0.02)

Co provides Q2 2014 gold production and an operations update for its Twangiza and Namoya gold mines in the Democratic Republic of the Congo.
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.
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).
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


Read more: https://www.briefing.com/Platinum/InDepth/InPlayFull.htm#ixzz374CjxHwv.

Banro Corp's current portion of long-term debt for the quarter that ended in Mar. 2014 was $41.8 Mil. Banro Corp's long-term debt for the quarter that ended in Mar. 2014 was $162.7 Mil. Banro Corp's total equity for the quarter that ended in Mar. 2014 was $490.4 Mil. Banro Corp's debt to equity for the quarter that ended in Mar. 2014 was 0.42. The same as the year before.
The way I feel the debt is manageable. They refi'ed with good terms. What they needed was time so twangiza could pull enough revenue to pay the bills and expansion of namoya. All in costs are going to be below $800.00 an ounce while gold climbs to $1400.00 an ounce. Everything at namoya is fixable. If someone offers north of $3 a share considering current debt. I think it would be cool if someone gave them half a billion to fully develop the other two and fix namoya early that would be great too.

With 12% of the current property discovered and being mined. Yep let's sell billions for pennies on the dollar because we are going to need 20 million going into 2015 third quarter ..... You either don't believe spot gold is going to surpass current levels or that namoya still won't produce 9000 ounces this year and that isn't worth fooling with? You seem to want your banro shares to be over a dollar now but on the other hand your posts today don't support the attitude And direction of your posts in the past? You out all of us have been the most realistic with your projections .... Ask recall just with twangiza you use to be satisfied?oh well sell if you must... But I know you are smarter and more patient than that.