Banro Corp. fka BAA

[caffeinedrive]

Gold seems to be oversupplied and eventually low prices will cure low prices as weaker players fall away, but till then everyone will be trying to ramp up production to maintain revenue.

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http://www.randgoldresources.com/quarterly-reports-page/1886

Bristow said he expected the gold price to stay in the $1 000 to $1 400 per ounce range as long as the market continued in its present oversupplied situation. With the gold mining industry in a highly stressed state, and many companies heavily burdened by debt, the status quo looked unsustainable and currently unprofitable production would eventually have to be eliminated.

“All our operations are profitable at $1 000 per ounce and we have planned a rising production profile on our existing asset base, with capital expenditure and costs forecast to come down. Add to this our growing balance sheet, our proven record of exploration success and our strong focus on sustained profitability, and we are well placed to continue creating and delivering value to our stakeholders,” he said.