Banro Corp. fka BAA

[JDUR]

Ok so here is the calculation

In Q2 they produced 34325oz and sold 35655oz (1330oz from liquidation) of gold at an average price of 1194. But if you calculate the inventory liquidation it doesn't match up with the sold ounces which means because of the deals they have in place (making the realized price of gold to be 1100$ or 1150$ depending on the deal) they are losing gold.

In Q3 they produced 34824oz of gold and sold for what I believe to be at $1119 (from another company). I am assuming they keep their inventory roughly constant.

So 35655 produced and eps of .006. Because of the above they will have a fallout of about a little over 5million in rev or -.02 to -.01 EPS depending on what it is rounded to.