Financial Times  May 20  Comment 
From retail banking to airports, it has been an eventful week for Alex Chisholm
Benzinga  Sep 30  Comment 
Banro Corporation (NYSE MKT: BAA) announces that it has received notice from the NYSE MKT LLC pursuant to Section 1003(f)(v) of the NYSE MKT's Company Guide that, due to the Company's current low selling share price, the Company's continued...
Forbes  Aug 18  Comment 
In trading on Tuesday, precious metals shares were relative laggards, down on the day by about 3.3%. Helping drag down the group were shares of Coeur Mining (CDE), off about 11.2% and shares of Banro Corporation (BAA) down about 10.9% on the day.
Forbes  Jul 20  Comment 
In trading on Monday, precious metals shares were relative laggards, down on the day by about 6.2%. Helping drag down the group were shares of Banro (BAA), down about 11.6% and shares of Gold Fields (GFI) down about 10.9% on the day.


Banro Corporation is a junior gold mining company focusing on exploration and production projects in the Democratic Republic of Congo. Banro trades both on the Amex and Toronto Stock Exchange.



Twangiza is the most advanced of Banro's four projects. According to the company, the Measured and Indicated Resources for Twangiza are 5.60 million ounces of gold and Inferred Resources are 400,000 ounces. The Kaziba discovery is part of the Twangiza project.

In 2009, Banro says it will focus on exploring four targets at Twangiza which are within trucking distance of the proposed Twangiza plant site (including Kaziba). It expects the deposits to boost the resource profile. Banro also plans to undertake additional metallurgical testwork to optimize recoveries from the various ore types at Twangiza.


Kamituga covers about 649 square kilometers. It is the most mature of Banro's four properties and was previously the site of major alluvial and underground mining operations.

Prior mining operations closed in 1996, but in 2007, Banro completed LIDAR, aeromagnetic and radiometric surveys aimed at identifying targets for future exploration. Banro says that it has analyzed the data. However, it does not appear that substantial exploration activity is planned for 2009.


Lugushwa is a promising 641-square kilometer exploration site. Last year, Banro used infill drilling and surface exploration to identify new targets for exploration. 26 core holes were assayed at the D18 prospect with the objective of upgrading "inferred" ounces to "indicated" ounces. The study of these assay results, which will also assess all mineralization identified to date at Lugushwa, is expected to be completed in 2009.


Namoya currently hosts 1.124 million oz of Measured & Indicated Resources and 407,700 oz of Inferred Mineral Resources. In 2009, Banro expects to complete the Pre-Feasibility Study.

Factors which affect Banro

Price of gold Like all mining companies, Banro is affected by the price of gold.

'News regarding development projects Results of Pre-Feasibility Studies, and technical studies of mining assays, will affect investor's views regarding how promising the development projects are. The timing of these results is also important, because it shows whether exploration and development is progressing on target.

Financing Banro did two equity financings last year, and may do more in 2009. In both cases share prices fell strongly below the financing point. Additional financings could pressure shares again. Each financing sold units consisting of a common share and a warrant to purchase a common share at the deal price. The first was priced at $3.50 (U.S.) and the second was priced at $2.20 (U.S.).


Company website

Microcap Speculator

Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki