Replies to post #56451 on Banro Corp. fka BAA

[StockItOut]

Seems this is what Clarke is saying, moving away from the long held Banro stance of "wholly owned." And makes sense in the current gold and gold mining environment (POG is not mega high currently), and per Banro's significant debt situation, even after a bond refi, which to me seems unlikely to reduce overall debt much. For an investor, Clarke's 'news' actually seems quite a positive. Baiyin is prob'ly gettin' all excited. Who knows their mutual discussions.

With bond refi, and news like this, where then also cash will be established to pay down debt, and to best continue run operations, efficencies, further explore and develop, Banro could pop to $1.10 overnight. Or is this too conservative...

[StockItOut]

Banro lists Lugushwa with 4.26 M Indicated and Inferred ounces, as of Dec. 31st, 2015.
Specifically, Oxide of .73M Indicated, and Oxide .31M Inferred.
With Transition and Fresh of 3.22M Inferred.
https://www.banro.com/operations/resources-and-reserves

Yet, the 2013 VenmynDeloitte report says Indicated is .73M oz. and Inferred 4.88M oz.
https://www.banro.com/assets/docs/reports/NI-43-101-Banro-Lugushwa-2013-15-April-13-745.pdf


Banro continuing limited exploration as well for discovery of new oxide targets:
"In order to consolidate Banro's position on the various exploration sites, some limited exploration activities were carried out in 2015 using small teams focused on generating new oxide targets in Lugushwa and Kamituga. At Namoya, exploration drilling activities focused on near mine resource upgrade and target generation activities. The primary objective was to upgrade Inferred Resources within the Namoya Summit-Filon B reserve pit into a higher confidence resource for conversion into mineral reserves. In addition, near mine oxide resources were defined within 5 kilometers of the Run-Of-Mine pad. At Twangiza, the focus was on the optimization of mine to mill reconciliation processes."
https://www.banro.com/news-events/news-releases/banro-announces-reserve-growth-of-9-to-318-million-20160419