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Banro - Commercial Production At Namoya Will Be Key
Sep. 28, 2015 10:34 AM ET | About: Banro Corporation (BAA)
Summary
yes everybody knows, but if you missed this, read it, can't give you nothing better, I'm trading
Banro should see the Namoya capex drop from this or next month on and I'm counting down to see commercial production being declared.
Excluding growth capex, Banro was still free cash flow positive in H1 2015.
Declaring commercial production at Namoya will be a very important catalyst as the end of spending cash on capex will mark the start of a substantial free cash flow.
Introduction
After seeing my previous articles on Banro Corporation (NYSEMKT:BAA) were well-received (with some interesting comments, thanks for that!), I decided to keep an eye on the company considering the company is in the final stages of completing the construction at the new Namoya gold mine in the DRC which should increase the gold production rate. As Banro hasn't been covered by other authors on Seeking Alpha since 3.5 years time, I will try to continue to provide my insights despite the company having a low market capitalization.
Fortunately the liquidity is still very high with almost 1M shares being traded on a daily basis.
A lot has happened since my previous article
In a previous article, I discussed the company's Q2 production results and I expressed I was satisfied with the total consolidated production rate of 45,000 ounces of gold.
AI
