Tech, surely you can read the tea leaves enough to see what's going on here. This company will be bought, and at a very cheap price, and soooooon. Banro will be bought out before we will ever be able to see profits from Nayoma in a meaningful way. Before Gold every gets a sniff of 1300's again. Why, because the parent company in this soon to be buy out, will snatch up Banro for a tiny fraction of it's eventual value. The debt, the gold price weakness, and the timing of the CEO / BOD / and now pretty much the entire board, is a pretty solid indicator of what is about to happen.
Why would Banro be allowed to evenually make common shareholders wealthy? My guess, the common shareholders were used to help finance the cost to setup the mines, now when the profits are about to be collected, and the shareholders are about to be paid.....oops, gold prices drop....so sorry.
Parent company gets Banro's Assets at pennies on the dollar, and commom shareholders will be beaten down by gold prices, and by the time this story ends, be glad for what they get.
My guess......somewhere between 1.20 and 1.75.
But sub dollar would not surprise me. If they can time this buy out just right and gold continues to slide, 90 cents might be possible.
I'm hoping for 1.75, but I expect less, just because, well, they are pretty damn greedy aren't they. I expect this acquisition to happen quickly (I sure hope so) and would guess that Banro will be no more by end of 2014.
Hope I'm wrong with my lowball estimates, because I currently own quite a bit of Banro. Call me skeptical!
