Replies to post #38394 on Banro Corp. fka BAA

[RB_79]

Yup I hear you! It's never easy with BAA

Waiting for EOY

Go BAA

[penelopeabril]

The impairment charge is simply saying that for Namoya we have all this gold in the ground which has diminished in value by 5-10% since the last report. So they're writing down their potential gold value by $50 million. Although I agree that it seems crazy that that # should be included in BAA eps figure. They're doing the right thing by devaluing their potential gold value and including that in their Mine Under Construction balance.

[Congo Mining]

The insiders bought a lot of shares recently.

June 12 ...Founder bought 150,000 @ $0.455 CND = $70,525 CND

June 12 ...CEO bought 100,000 @ $0.45 CND = $45,000 CND

June 15 ...Founder bought 125,000 @ $0.445 CND = $55,625 CND

so the founder Arnold Kondradt spent $ 126,150
and CEO spent 45,000

for a total of $171,150 Canadian to buy stock in the company in mid Jun.

this is quite recent.

Not counting the large quantity of share they both bought in January.

https://canadianinsider.com/company?ticker=BAA

"Record EBITDA of $34 million in H1 2015, a 210% increase over H1 2014 ($11 million)"

"Gross earnings from operations of $15 million in Q2 2015, a 239% increase over Q2 2014"

[TexasRambler]

TeamToc, Like you, I don't see this as a particularly great report. Not bad, but not stellar. I have read the report 2 times now and some things come out.
1. The commissioning of the newly delivery trucks will not occur until mid to late September. to me that means movement of additional ore will not start till then.
2. The current additional tonnage moved for processing will not show up in a lot of additional ozs. of gold until the 4th qtr.
3. It looks to me like interest on financing increased quite a bit in Q2 over earlier Q's.
4. Like you posted, Cash and AISC went up Q1 to Q2. I still don't understand what made it go up so much.
5. It looks like they lost about 3.5 million in revenue Q1 to Q2 from the drop in the price of gold. I think this is putting adent in profitability, but, they are still profitable, a good thing. But with gold dropping another 70-100 oz earnings may be even thinner next qtr though more gold produced and namoya going commercial.

So, my take away is progress, though not as fast. And I do think management is good here.
jmo