Banro Corp. fka BAA

[nagoya1]

BAA- Namoya soon to be commercially mining.

Fantastic news. Twangiza still humming at over 100% and Namoya didn't blow up and is still ramping up. Earnings in a month and hopefully news that Namoya is a go not too long after. Cheers to the longs.

You're forgetting what the AISC is in regards to. It is PER OZ.
AISC PER OZ. The cost is high because production is low. Less production to meet fixed overhead costs. Double production and your cost per oz gets cut in half, when looking at it in the most simplistic way possible. Namoya is doing 3k ozs/month right now. The stated goal is ~9k ozs/month which is 3x higher than what they are doing now. $1581/3 = $527. I think AISC will be about 50-60% higher than that figure on an ongoing basis once it's in full commercial production, which will be right around Dr. Clarke's goal of ~$800 AISC.

Too much going on right now to peg a continuously sustainable number. They need to bring namoya online first. Either way, they are in a much better position than most when it comes to $$ to pull gold out of the ground. BUT, as with everything, timing of inflows and outflows of cash is what will matter most when times get tough and they are running lean. Interest expense is not variable. To paraphrase Goodfellas, "Price of gold went down? F*&^ you, pay me. Namoya blew up again? F*&^ you, pay me. Rainy season wreaked havoc on the ore piles? F*&^ you, pay me."

WOW, quite the turnaround...