Banro Corp. fka BAA

[SilverRay]

It is because of unfulfilled promises... Banro was supposed to produce 250 000 oz annually by now with much less all-in cost. The previous BAA peaks at $14 and $5.5 were reflections of these expectations, because at that time Banro wasn't producing anything, and was debt-free.

But all in all, I think we're turning the corner here and in 1-2 years we will get to that long-term production target of 250 000 oz / year. If price of gold is then favorable it will make up for many things, as for the risen all-in oz cost and the debt, so it's possible to see Banro in the $4 region in 1-2 years. If price of gold goes back to previous highs before that, then it will happen even sooner. A favorable price of gold will make miners and Banro very profitable businesses, especially on paper (that is, indicator-wise). In practice, it will allow Banro pay off its debt much faster and explore the other properties and build more mines, to move closer to the long-term target of becoming a major producer with 500 000+ oz per year.

Happy Independence Day too all fellow Banro investors across the pond!