~*~Mining and Metals Du Jour~*~

[Phatlander]

http://news.banro.com/press-releases/banro-files-ni-43-101-technical-report-for-twangiz-nyse-mkt-baa-201507301019459001

Basics below, click on link to read the whole release.

TORONTO, ONTARIO--(Marketwired - July 29, 2015) - Banro Corporation ("Banro" or the "Company") (NYSE MKT:BAA)(TSX:BAA) announces that it has filed on SEDAR a National Instrument 43-101 technical report in respect of the Company's Twangiza gold mine, which follows the Mineral Reserve update for Twangiza announced by the Company in its June 8, 2015 press release. This report, which was prepared by SRK Consulting (UK) Limited ("SRK"), is dated July 29, 2015 and entitled "NI 43-101 Technical Report, Mineral Resource and Reserve Update, December 31 2014, Twangiza Gold Mine, Democratic Republic of the Congo" (the "Technical Report").

Highlights

As previously reported in Banro's June 8, 2015 press release, as at December 31, 2014, Twangiza Proven and Probable Reserves increased 59% to 1.64 million ounces ("Moz") of gold (22.38Mt @ 2.28g/t Au) with the inclusion of non-oxide materials in the reserve pit shell which are now considered to be economically treatable with the existing plant.
Total gold production of 1,246,311 ounces over 14 years, with an average annual production of 108,733 ounces of gold over the first 5 years.
Average total cash operating costs over the current life of mine of US$699/ounce, with total cost per ounce over the current life of mine of US$888/ounce.
Post-tax net present value ("NPV") of US$285 million based on a 5% discount rate and a gold price of US$1,200 per ounce.