Banro Corp. fka BAA

[StockItOut]

Congo Gold Miner (Banro) Is Back From the Brink
https://www.bloomberg.com/news/articles/2019-07-03/back-from-the-brink-banro-splits-to-revive-congo-gold-fortunes
July 3, 2019

In the past 23 years, Banro Corp. had its Democratic Republic of Congo gold assets seized, got them back, built two mines, closed one after attacks by militants and sought bankruptcy protection. Now, controlled by its former creditors, the company has a plan to make another go of it.

Banro will split its assets in a move to give each mine the best chance at success, Chief Executive Officer Brett Richards said in an interview. Chinese state-controlled Baiyin International Investments, which owns 32% of the company, will assume full control of the Twangiza mine, while Banro will retain the Namoya operation and a portfolio of exploration prospects, he said.