Banro Corp. fka BAA

[Congo Mining]

There are exploitation permits and exploration permits.

Holders of exploration permits will have 2 years to convert the exploration permits to exploitation permits.

Requires some careful reading.

Also as the articles indicate it is likely that the current bill will continue to be watered down...it's good to see that they are reacting quickly to the push back from miners and what they see going on in neighboring countries.

IMO--Mining is their only way out of poverty...the president of the country knows this...he gives a good front talking of democracy and letting laws be debated but when elections come it is likely to be similar to what Putin did in Russia...Kabila will retain his power in some other position...things will evolve slowly...there will be some changes to the royalties from 2 to 3.5 percent and a couple other measures but it's not going to look like what got leaked.

Kabila personally handed the property back to Banro in 2002 after his father was assassinated. Kondradt asked for a meeting with Kabila on one of his visits to the US, they shook hands on a gentleman's agreement subsequently all rights were restored as the had been previous to Kabila the first.

http://www.congonline.com/Forum1/Forum01/Rooyen01.htm

read carefully.
http://www.banro.com/s/Properties.asp