Banro Corp. fka BAA

[CrazyDonkey]

The cyanide "heap leach only" method is an alternative to the "carbon-in-leach" (CIL) method. Banro had planned originally in 2007 to use the latter at Namoya, but switched to the former in 2011.

See: http://www.proactiveinvestors.com/companies/news/11706/banro-corp-announces-pea-results-for-namoya-project-in-drc-63-projected-irr-11706.html

Here's an article, "Precious Metal Heap Leach Design and Practice," by Daniel W. Kappes (of KCA):

http://www.kcareno.com/pdfs/mpd_heap_leach_desn_and_practice_07apr02.pdf

A couple extracts:

Financial considerations strongly favored milling, and the owner was financially strong. However, the operation was located in an undeveloped country with unstable politics and socialist leanings. The owner concluded that he might lose control of a high-capital investment, whereas he could maintain control of a heap leach with an implied promise of a future larger capital investment.

Heap leaching has often provided the route for a small company to grow into a large company. A good example is Glamis Gold Corporation, which has gone from total assets of $12 million in 1984 to $112 million in 2001, based largely on its low grade heap leach projects at Picacho and Randsburg, California.