Banro Corp. fka BAA

[papawah]

Banro announced today that they are re-opening Namoya Mine. We knew this all along via. sources in the DRC and they kept refusing to provide answers when asked about Namoya in December and in response to emails sent to management. Their pre-filing forecasts provided to the courts for the restructuring of the company DID NOT include Namoya in their calculations. This accounts for 50-70 million dollars in forecasted annual revenues. Also their pre-filing forecasts are based on 1275 gold price. Today gold is at 1315. Our estimations are that annual revenue with both mines running is about 260-280 million. They are only forecasting of 150 million for 2018 in the pre-filing. This is based on their own 2016 production numbers.

Their is strong evidence that the Namoya production has been suppressed from shareholders to make a better case for the courts. Opening a mine takes planning, road repairs, supplies etc.. Its not something you do in a day. Also we know they are in full production this week, not ramping up as the press release states. If you have had any contact or email exchanges with management over the past few months/years via. email or otherwise, contact Lawrence Lepard at [e-mail]. We need to organize and pool together our information and evidence to establish representation for the benefit of common shareholders. Common shareholders have invested over 600 million in this company, Baiyin and Grammercy only 200-300 million but somehow we are being cut out completely.

https://www.banro.com/news-events/news-releases/banro-provides-update-on-namoya-mine-20180103