Gut feeling based on unknowns...total guess but there is one thing I can make an educated guess on and that is that production costs for Namoya per ounce were likely around $1,100. I'm basing that on how Twangiza performed when it first started.
I don't know how much BAA had left of the $35.5M that Gramercy injected them with and I also don't know what the cost of work on Namoya was.
Banro released short, medium and long term plans for Namoya when they first disclosed the fine particle issue. However I couldn't discern how or if they were following any of them close enough to match up to their estimates. If I remember right the short term was $2M or a so and medium was $2M per month. Something like that.
The short term drum spilled over into Q1 so maybe there was no hit in Q4 for that. The PPS action seems odd for a company about to post both profit and a cash in the bank closing for funding.
Sooo...my gut is telling me that BAA may hit one more little speed bump here before it gets to takeoff speed. I should also mention that I've been long with BAA for quite a while now during which BAA has hit more speed bumps than I was expecting so that may have just jaded me.
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