I'm counting on Banro to release a plan soon that makes them profitable at this level. I'd love to see a JV of some kind that puts immediate cash in Banro's bank account as well as residual income. For example a copper mine. Maybe $30M for the right to explore and then 10% if something is found and exploited.
I'm also cool with Banro taking on a partner to kick off the 3rd and or 4th mines. Even 50/50 would work if it clears the balance sheet of BAA. If that happens BAA is an instant 4-6 bagger that can grow to a 10+ bagger within a quarter or two.
Even financing that can roll Namoya's financing into the $32M and still cuts Banro's $8M quarterly payments to $5M is cool with me. If that happens the math looks like this.
$5M / 31,000 ounces = $161 per ounce for financing.
$940 to $1,000 All-In-Sustaining + $161 = $1,100 - $1,160
Even if it truly costs them $1,160 per ounce they can break even on $1,200 gold. At $1,300 gold it glosses over the occasional equipment breakage or hiccup.
We'll hear something soon. I'm confident.
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