Banro Corp. fka BAA

[augold79]

I have to say the negative comments directed at management and opinions expressed on the last quarterly are, to say the least, misguided. The company made money during the 2nd qtr! The non-cash write down is a one off transaction, similar to all companies in the commodity space re: oil/gas/copper/coal etc. Certain financial media outlooks portrayed a massive operating lass causing panic in the market the past few days.

Yes, the company is tight but the financing only closed in April. After wasting 6 months with gold holdings, equipment is still arriving at Namoya, hence the delay. Production continues to improve and from what understand Namoya finally broke even in July. With Namoya turning cash positive, we can expect cash costs, all in costs numbers to drop for the 3rd quarter.

GLTA