Complete BS! Lolzzzz

No one gives a chit.

UN report says Erik Prince violated arms embargo against Libya: report
https://thehill.com/policy/international/539697-un-report-says-erik-prince-violated-arms-embargo-against-libya-report
-and-
https://www.nytimes.com/2021/02/19/world/middleeast/erik-prince-libya-embargo.html

Erik Prince's Private Wars
https://www.rollingstone.com/politics/politics-features/erik-prince-libya-blackwater-roger-stone-trump-2020-election-1077089/

Congo Gold Miner (Banro) Is Back From the Brink
https://www.bloomberg.com/news/articles/2019-07-03/back-from-the-brink-banro-splits-to-revive-congo-gold-fortunes
July 3, 2019

AGREED- retorts-IDIOTIC
BAA

So what is your saying is you can't debunk those points....BAA

Can you actually debunk some of the points...looking forward to your arguments rather than factless adjectives that don't mean anything...BAA

Completely idiotic

THE CONTENT AND CONTEXT OF THAT POST IS BULLSHIT

Play by play of Banro shareholder destruction.

As lain out particularly similar to as listed below:

https://seekingalpha.com/instablog/52535199-hymcz-warrant-holders/5509902-new-investment-risk-emerged-in-precious-metals-mining-industry

A New Investment Risk Has Emerged In The Precious Metals Mining Industry

The content and context of that post is Bullshit.

Banro sells Twangiza to Baiyin for $1. Now-looking-to-sell Namoya.

Banro dangling Congo gold mine to best bidder
https://www.mining.com/banro-dangling-congo-gold-mine-to-best-bidder/

I'll wait for tax-loss selling season in December.

Well... try KP, he's still got some LONG AND STRONG!!!!
Maybe he'd be willing...?

No one has shares to sell.

Should fill next week.

Still waiting. My huge bids are at 0.

Blackwater founder expands operations in Congo
https://www.mining.com/web/blackwater-founder-expands-operations-in-congo/

Reuters | June 13, 2019 | 10:36 am Intelligence

A company run by private security firm Blackwater’s founder Erik Prince has registered a subsidiary in Democratic Republic of Congo with a mandate to extract minerals and timber and conduct financial operations, corporate filings show.

IN ITS 2018 ANNUAL REPORT, FSG LISTED CONGO, LAOS, MYANMAR AND CAMBODIA AS COUNTRIES IT HAD IDENTIFIED FOR INVESTMENT, IN CONNECTION WITH CHINA’S BELT AND ROAD GLOBAL DEVELOPMENT STRATEGY
Prince, who renamed Blackwater and sold it in 2010 after several of its employees were indicted on unlawful killing charges in connection with their work as U.S. government contractors during the Iraq War, has run Hong Kong-based Frontier Services Group (FSG) since 2014.

FSG has close ties to the state-owned Chinese investment company CITIC and provides security, aviation and logistics services to Chinese firms operating in Africa.

FSG has owned a small Congolese trucking company called Cheetah Logistics in Congo since 2015, but the new subsidiary, Frontier Services Group Congo, has a more expansive mandate, according to a filing with Congo’s business registry.

Among its aims are “the exploration, exploitation and commercialisation of minerals”, forest logging, security, transport, construction and “all financial, investment and project financing operations, both public and private”.

The filing, shows Frontier Services Group Congo was registered on Aug. 20, 2018, and formally established on Nov. 13, 2018.

FSG did not respond to a request for comment.

In its 2018 annual report, released in April, it listed Congo, Laos, Myanmar and Cambodia as countries it had identified for investment, in connection with China’s Belt and Road global development strategy.

Besides his work for FSG, Prince has been pushing a plan to deploy a private army to help topple Venezuela’s socialist president, Nicolas Maduro, sources with knowledge of the effort told Reuters in April.

He has also tried unsuccessfully to convince the Trump administration to replace U.S. soldiers in Afghanistan with security contractors.

FSG owns aviation companies based in Kenya and Malta and provides security training to companies in China. It says it is also active in more than a dozen countries in Asia, Africa and Europe.

Prince told the Financial Times earlier this year he was aiming to raise up to half a billion dollars through a new fund to invest in mining metals like cobalt, copper and lithium that are needed for electric car batteries.

Congo accounts for roughly 60 percent of the world’s cobalt output and is Africa’s largest producer of copper.

Chinese companies have snapped up valuable concessions in recent years as Western firms reduce their footprint in Congo, which is mired by armed conflict and political instability.

Blackwater, which Prince founded in 1997, was contracted by the U.S. State Department to provide security during the Iraq War. In 2007, Blackwater employees shot and killed 17 Iraqi civilians in Baghdad. One of the employees involved was convicted of murder in December and three others have been convicted of manslaughter.

Blackwater agreed in 2010 to pay $42 million in fines for hundreds of violations of U.S. export rules, including making unauthorized proposals to train troops in southern Sudan. The company now operates as Virginia-based Academi.

(By Aaron Ross; Editing by Mark Potter)

Hope you got those cheapies.
You and KP the big winners.

These fka stocks can be quite lucrative. I may put in a very large bid at 0.0000 on Monday.

Yawn

Only kp still winning long-n-strong, as we know.
(as a common shareholder)

Looks like this one got me. Oh well. Go get um Mr. Richards. Good luck to u.

it's all quite clear.

Did I miss something? Are baa shares coming back, new ticker? Is it a buy?

Yes you did! Big money to be made from Banro.
(Gramercy and Baiyin smiling)

good news for Kpisme. I sold too early.

Well, unfortunately not.

Banro plans new mine construction at Lugushwa and Kamituga.

Banro plans to be 1-Million-ounce-per-year mid-tier gold producer.

Gold operation revival plan takes shape
https://www.miningreview.com/gold/gold-operation-revival-plan-takes-shape/

April 25, 2019

Privately-owned Canadian gold producer Banro Corporation has set in motion a plan to revive its two operating gold mines in the Democratic Republic of Congo (DRC).

It has a vision to develop and bring into production an additional two mines in the country within the next five to seven years, chairperson and CEO BRETT RICHARDS tells CHANTELLE KOTZE.

This article first appeared in Mining Review Africa Issue 4, 2019

With all the makings of a major gold miner including the largest land package in Africa, a scalable mineral resource that could easily grow to 20 Moz and untapped potential, Banro has had a difficult run in the DRC since its inception in 1996.

The company had its assets seized by the government during the country’s civil war in 2001, and then rewarded its licences back in 2003 through a process of arbitration.

Subsequent to this, Banro was granted a mining convention, which afforded it various tax and other incentives to develop mines along the richly endowed 210 km long Twangiza-Namoya gold belt in the South Kivu and Maniema provinces of eastern DRC.

The company opened up its first gold mine –Twangiza – in September 2012, which was later followed by the second mine – Namoya – in January 2016.

A little over a year since entering commercial production at its second mine, while focused on overcoming operational hiccups and finding its feet as a larger two-asset company in what is a remote, undeveloped part of the DRC, Banro experienced the first, of what would later become several security incidents at both its operating mines.

From February 2017 until August 2018 its operations faced several violent attempts by local militia groups to gain entry to the mines and who cut off areas along the sole supply road to Namoya, shutting down transit of essential supplies to the mine.

These flare-ups on the ground in the DRC surrounding the mining operations led to significant cash flow problems and culminated in the suspension of production from Namoya and then Twangiza, resulting in bankruptcy and the restructuring of Banro.

Banro emerged from the restructuring process on 4 May 2018, with two principle, controlling shareholders, namely US-based hedge fund Gramercy Funds Management and Chinese investment fund Baiyin International Investment, and under the leadership of newly appointed chairperson and CEO Brett Richards.

Prior to joining Banro, Richards worked for a number of private equity firms focused on mining projects throughout Africa where he led greenfield/brownfield start-ups and operational and financial turnarounds and exit strategies.

He has also led several exploration fund raisings, mine financings, re-financings, and successfully conducted multiple operational rehabilitations.

The start of a new chapter

Almost a year since being appointed to the helm of Banro, Richards has spent most of his time in-country working towards remediating the security at the operations while also developing a plan to recapitalise the business with the aim of rehabilitating the Namoya and Twangiza mines.

He has also prioritised identifying potential risks to the business and has implemented actions to mitigate all current and future risks.

Richards has resultantly put together a team able to lead the company through a financial, operational and exploration redevelopment/rehabilitation phase, while also putting in place the necessary governance and security structures to ensure the safe operation of both mines.

By late 2018 Banro was in a position to restart Namoya having remediated the safety and security situation at the mine but rather chose to keep the operation on slow production (similar to care and maintenance) until in a position to recapitalise the business.

Since then, Richards has been working tirelessly on a developing a new capital plan for the business and last month he successfully arranged a US$80 million capital raise to fund the rehabilitation of both Twangiza and Namoya.

Not only aiming to reclaim its competitive edge in the DRC by restarting operations at its two mines, Richards aims to position Banro as a leading gold mining company in the DRC from a production, cost, as well as social and economic growth perspective.

He therefore also plans to use a portion of the funds raised to advance Lugushwa and Kamituga through the development pipeline to the point where a construction decision can be made.

With an imminent first drawdown of funds, Richards expects to stabilise the business by September this year and by this point would have restarted gold production at both Namoya and Twangiza.

“In order to restart operations we would need to access ore at Twangiza and start ramping up to full production (from its current slow production state) at Namoya,” Richards explains, adding that he expects to be cash flow positive by the end of 2019.

Exploration drive unlocks future gold potential

Despite its already large mineral inventory, with proven and probable mineral reserves of 3.18 Moz – 7.04 Moz of measured and indicated resources, and an additional inferred resource of 5.08 Moz, Richards suggests that Banro still has room to prove up additional resources, having only explored 38% of the total land package it has under licence.

“I believe we could comfortably demonstrate a path to achieving 1 Moz of annual gold production by proving our resource up to 20 Moz with further drilling,” he says, noting that the mineralisation is well understood, consistent and quite easy to exploit.

Lugushwa

Lugushwa, the most advanced of the two exploration projects, consists of three exploration permits, located approximately 150 km southwest of the town of Bukavu.

Lugushwa has an indicated mineral resource in the oxide portion of 16.91 Mt grading at 1.35 g/t gold containing 0.73 Moz of gold and an inferred resource of 6.17 Mt grading at 1.56 g/t gold containing 0.31 Moz of gold.

Meanwhile, the transition and fresh rock portions of Lugushwa have an inferred resource of 65.01 Mt grading at 1.54 g/t gold containing 3.22 Moz of gold.

Banro will begin a significant infill-drilling programme at Lugushwa within the next few months, which will run well into 2020.

“We will then move into a feasibility study in early 2020 and be in a position to take a construction decision in mid to late 2020.

“Lugushwa has the potential to be our biggest mine yet – comfortably able to deliver +250 000 ozpa of gold over a mine life of +10 years,” says Richards.

Kamituga

Meanwhile, Kamituga, located 100 km south-west of the city of Bukavu, hosts an inferred mineral resource (surface) of 4.14 Mt grading at 2.40g/t gold and containing 320 000 oz of gold and an inferred (underground) resource of 3.12 Mt grading at 6.00 g/t of gold containing 600 000 oz of gold.

“While we would look at establishing an initial 180 000 oz operation at Kamituga, the scale of the resource – with a mineralised strike length of over 20 km – allows us to easily scale the operation to as large as Lugushwa,” states Richards adding that Kamituga could be a complete replica of Lugushwa.

When asked how he plans bring these two projects into production, Richards explains that much like Endeavour Mining Corporation’s successful construction strategy – using a highly skilled in-house team to spearhead construction of its projects – Banro too will relocate the Lugushwa construction team to Kamituga where it will replicate the construction process, allowing 18 months for construction at each site.

With these four projects in production, Banro will be producing just shy of 1 Moz of gold a year – a feat that will help take it to mid-tier producer status.

Further growth potential beyond 1 Moz exists in unlocking the high-grade underground mining potential at both Namoya and Twangiza as well as at the five other targets along strike from Namoya, Twangiza and Kamituga, which currently require development drilling.

As the only industrialised business in eastern DRC, Richards’ believes that it is in both Banro and the DRC government’s best interest to maintain stability in the region as the restart of Namoya and Twangiza, as well as the establishment of two additional mines over the next five to seven years, could create between 2 000 and 3,000 additional jobs (and up to 30,000 indirect jobs) through economic stimulation.

Southern District of New York Dismisses Securities Law Claims on Grounds of International Comity; No Chapter 15 Proceeding Required
https://www.jdsupra.com/legalnews/southern-district-of-new-york-dismisses-15918/

March 26th, 2019
by Kramer Levin Naftalis & Frankel LLP

The Bottom Line

Recently in Ema Garp Fund v. Banro Corp., Case No. 18-01986 (S.D.N.Y. Feb. 21, 2019), the District Court for the Southern District of New York dismissed the plaintiffs’ claims against defendants Banro Corporation ("Banro") and former Banro CEO John Clarke on grounds of international comity. Among the various grounds for applying general principles of international comity, the court held that a Chapter 15 proceeding was not required for a plan approved in a Canadian CCAA proceeding to release claims in a pending litigation in the United States.

What Happened?

In December 2017, Banro, a Canadian corporation, commenced a reorganization proceeding in Canada. Companies’ Creditors Arrangement Act ("CCAA") courts issue a claims procedure requiring creditors with claims against either the debtor or its directors and officers to file proofs of claim by a specified date ("Bar Date"), or the potential claims may be extinguished. Under the CCAA, the court will then hold a creditor meeting where a proposed plan of compromise or arrangement must be approved by a vote. The court in Banro’s Canadian proceeding (the "CCAA Court") issued a Bar Date deadline of March 6, 2018.

The plaintiffs, who are Banro shareholders, knew of the Canadian proceeding but did not file any claims by the March 6 Bar Date, nor did they otherwise participate in that proceeding. Instead, on March 5, 2018, the plaintiffs filed a complaint in the District Court for the Southern District of New York alleging that Banro and Mr. Clarke committed securities violations. Subsequent to the Bar Date, the CCAA Court considered a proposed reorganization plan that exchanged secured debt for equity, extinguished the interests of Banro’s current equity holders, and granted releases in favor of the Banro debtors and their directors and officers. Banro’s creditors approved the plan, and on March 27, 2018, the CCAA court issued a “sanction order” approving the plan and releasing all equity claims. The CCAA court extinguished the plaintiffs’ claims against Banro as pre-petition equity claims and their claims against Mr. Clarke as “barred ... because of non-compliance with the Claims Procedure Order.”

In May 2018, the defendants moved to dismiss the action filed in district court on the basis of comity, and the district court granted the defendants’ motion. The district court relied on the Second Circuit decision in Allstate Life Insurance Co. v. Linger Group Limited, 994 F.2d 996 (2d Cir. 1993), to determine whether a dismissal based on international comity was appropriate. As an initial matter, the party seeking dismissal bears the burden of proving that comity is appropriate. Citing Allstate Life Insurance, the district court stated that in determining whether a foreign bankruptcy proceeding warrants comity, courts should undertake a multifactor analysis to determine whether the foreign court satisfies fundamental standards of procedural fairness. If it does, then courts should ask whether affording comity would “violate any laws or public policies” of the U.S. The district court concluded that the Canadian proceeding satisfied fundamental standards of procedural fairness because it “treat[ed] creditors equally within separate classes; provide[d] for a Monitor, satisfying the fiduciary requirement; permit[ted] creditors to submit claims and appeal denials of those claims; provide[d] for creditors’ meetings; ... provide[d] a court-imposed stay” and, furthermore, provided public notice of the proceedings. The district court found that the Canadian proceeding was fair to the plaintiffs specifically because the plaintiffs had ample knowledge of the proceeding, the stay, the applicable claims and plan objection procedures, and the hearing on the sanction order.

The district court rejected the plaintiffs’ various arguments against dismissal. The district court found that the Canadian proceeding was a parallel proceeding because it was “a forum in which Plaintiffs could have and should have pursued their claims.” Also, the district court found that whether the CCAA Court had jurisdiction over the plaintiffs was irrelevant to its comity determination, as was the fact that defendants did not file a recognition proceeding in the U.S. because defendants were under no obligation to do so. The district court rejected the plaintiffs’ argument that they would be prejudiced by a dismissal of their claims, stating that it was the plaintiffs’ own choice not to participate in the Canadian proceeding. Moreover, the equities favored the defendants because the plaintiffs had engaged in forum shopping by filing the action in the district court. Finally, the district court held that the standard for dismissal based on comity was not whether “exceptional circumstances” existed, stating that that standard is not applicable when the foreign proceeding is a foreign bankruptcy proceeding.

Having found that the Canadian proceeding satisfied fundamental standards of procedural fairness, the district court then found that dismissing the claims would not contravene U.S. law or public policy. The district court noted that the fact that the plaintiffs’ claims arose under U.S. securities law, as opposed to the U.S. Bankruptcy Code, did not alter the analysis. The Canadian proceeding was an adequate forum for the plaintiffs to raise the claims asserted in the complaint.

The district court likewise dismissed the claims against Mr. Clarke, finding that the CCAA Court had established procedures for filing claims against Mr. Clarke, and the plan included a release of those claims. To allow the claims to proceed would “interfere with” the outcome of the Canadian proceeding and defeat the purpose of granting comity. The fact that Mr. Clarke is a former CEO of Banro and not the current CEO did not change the court’s analysis because it is his status at the time of the alleged misconduct that matters. The plaintiffs had argued that because Mr. Clarke was not a party to and did not appear in the Canadian proceeding, there was no parallel proceeding in Canada for the claims asserted against him. The district court was not persuaded by this, stating that permitting the claims to proceed would “undoubtedly interfere with the implementation of the CCAA reorganization plan because that plan encompassed a release of claims against Clarke.”

Why This Case Is Interesting

The district court clearly states that the standard in the Second Circuit for determining whether to extend international comity to foreign bankruptcy proceedings is not the “exceptional circumstances” standard but is the approach set forth in Allstate Life Insurance. If the Allstate Life factors are satisfied, it is irrelevant whether the debtor has filed enforcement or recognition proceedings in the United States. The absence of a Chapter 15 proceeding will not bar enforcement of a discharge given in a foreign bankruptcy proceeding. The decision underscores that while Chapter 15 is typically viewed as a means of implementing relief from foreign insolvency proceedings (e.g., a “foreign main proceeding” in the parlance of Chapter 15) in the United States, it is not the exclusive means to do so; principles of international comity may still be applied.

Bankrupt Banro Corp. Dodges US Suit Over Congo Operations
https://www.law360.com/articles/1131526/bankrupt-banro-corp-dodges-us-suit-over-congo-operations

KP is LONG and STILL WINNING!!!! Maybe he has it.

Canadian judge using it for kindling.

We don’t know what you’re talking about. Have a nice day.

Wait Banro is still around?? What happened to my $50,000 of hard earned money that they took??

BAA,10$, this was a good robbery.

BAA, the only funny messageboard. As you can see that even dead things can be funny. Even the moderator went home. But he did not understand fun.

Breaking News: Banro eaten by a giant shark!

John Clarke is still on the lam. Last seen on South African winery, the family kindly asked for his departure (kicked him off) for “refusing to lend a hand,” he having become a ‘healthy’ drinker, an anonymous source has relayed.

Mother Earth celebrates; She still has multitudes of gold in her bosom.

Canadian gold mining threatened by national liberalization of marijuana.

Home is on the range.

KP IS STILL LONG, AND STILL WINNING!!!!!!!!!

Yikes

https://www.miningreview.com/banro-corporations-namoya-gold-mine/

Banro could have done the same type of thing.

trunkmonk could have done the same type of thing...like KP ?

Not to tell us what was really going on ? because they did not research?

do not hope for miracles of compensation because you did not hear warnings

These have always been the smartest posters.
Such people insult you when you sell. And warn not to sell, even if you can not sell anymore.

Those who always blame the short sellers. Even if there is no shorter.
In such underexposed brains, imaginary shorter are even the losers when the stock is at zero.

BAA rotto come direbbe l'italiano

kpisme the only remaining sharehokder with shares.
‘Cause he hasn’t sold yet.
Which makes him still WINNING!
LONG and STRONG BAA!

My BAA shares finally no-longer listed in my account.

Banro could have done the same type of thing. Instead they were sneaky and didn’t tell us what was really going on.

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=142730008

It’s the truth. Further details forthcoming pending full story release

Can not wait for the continuous news.
When can I expect more news?
Will the rebels advance to Canada and press Banro there?
Or is it too far with the jeep?
I asked these questions to Reuters. They just said that would be a good story.

Breaking-News! DRC rebels take-over Banro! And re-list BAA!
Rebel leaders call Canadian judge’s integrity a white-wash.
BAA.TO and BAA to be re-listed and equity restored.
DRC Rebels no longer rebels, but state leaders.
Clarke taken into DRC custody, only to escape and is now on the run. Clarke last cited on South African winery.
It’s the truth. Further details forthcoming pending full story release.
Breaking news from De Trumpets Gazette.