Replies to post #15383 on Banro Corp. fka BAA

[baystock1]

Banro only has rights to the gold on their concessions. Their mining convention does not include rights to the copper or any other resource other than gold. Correct me if I am reading the following wrong:

>>In early 1997, Banro, SOMINKI and the government of the DRC ratified a new 30 year mining convention that provided for SOMINKI to transfer its gold assets to a newly created company. Societé Aurifère du Kivu et du Maniema, SARL (“SAKIMA”) was incorporated to acquire the assets of SOMINKI as stipulated in the new mining convention. In addition to this asset transfer, the new mining convention included a ten year tax moratorium from the start of commercial production, the ability to export all gold production, the ability to operate in US currency, the elimination of import duties and title confirmation for all of the properties. <<

http://www.sec.gov/Archives/edgar/data/1286597/000091228206000400/banro6k_lugushwa-techrpt.htm