I'm not sure, I get a bad feeling thinking about Van Eck, GDXJ, Franklin and Tradewinds cashing out of BAA down here. Unless there is something that we haven't seen on the ledger Banro going bankrupt would provide common shareholders with a multi-bagger from here.
It also isn't logical that these guys decided independently to sell out and then by pure luck large bids began appearing day after day for them to do just that. There was communication, maybe even on an hourly basis to transfer those shares in the open market.
The way it was done too, very consistently lowering the bid day after day. That was at least 90M shares. If it was BlackRock who already owned over 20% before Tradewinds first started then there was no real free market here. They knew months ago exactly what they were going to do with the PPS and basically had it staged.
I'm wondering if Banro knows the details. Naomi seemed surprised by the GDXJ sell. Surely they see that their market cap is millions less than the gold they produced just this quarter. Banro has been putting out PR's as if it is business as usual. There was the proxy battle, they were happy to announce their new CFO and in now way did they let on about anything.
I'm definitely hoping we get some great news! Something does seem off though, especially with those 4 institutions walking away with what appears to be huge losses. Hopefully we'll hear from Banro soon. I don't really want to see the new icon light up right after market close because on a Friday that is usually bad news. For now I'm optimistic.
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