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Re: fazlice post# 39045

Tuesday, 08/18/2015 9:01:20 PM

Tuesday, August 18, 2015 9:01:20 PM

Post# of 63744
Faz, From the Q,

"The Company expects to have access to sufficient funds to carry out the balance of its proposed 2015 operating and capital budgets for the Twangiza and Namoya mines and for corporate overhead. If necessary, having regard to the Company’s liquidity requirements, the Company may also elect to defer non-essential expenditures planned for 2015 to a future year.
As a result of restrictive covenants in the indenture under which the Company’s outstanding $175,000 in aggregate principal amount of senior secured notes (“Notes”) were issued, the Company’s ability to incur additional debt is currently limited. Should the Company experience production shortfalls at Twangiza, delays in ramp up at Namoya, suspension or delays in the receipt of goods and services, equipment breakdowns, or should the price of gold decrease further, the Company will need to further examine funding options
."

Unless something very bad happens, Banro is golden. If something bad happens, ie. gold $800 tomorrow, big time equipment breakdown to halt production, etc. Then they still have options, though limited.
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