guardian.co.uk  Apr 1  Comment 
Former BAA chief stands down after rehabilitating reputation of airport tarnished by chaotic Terminal 5 opening in 2008 Heathrow has started the search for a new chief executive after announcing that Colin Matthews is to stand down after six...
DailyFinance  Mar 27  Comment 
TORONTO, ONTARIO -- (Marketwired) -- 03/27/14 -- Banro Corporation ("Banro" or the "Company") (NYSE MKT:BAA)(TSX:BAA) is pleased to provide a Mineral Reserve estimate for its Namoya gold mine and an updated Mineral Resource and Mineral Reserve...
DailyFinance  Mar 21  Comment 
TORONTO, ONTARIO -- (Marketwired) -- 03/21/14 -- Banro Corporation has declared a dividend on its Preferred Shares of US $0.56 per Preferred Share payable March 31, 2014 to shareholders of record on March 27, 2014. The Company hereby...
DailyFinance  Mar 20  Comment 
TORONTO, ONTARIO -- (Marketwired) -- 03/20/14 -- Banro Corporation ("Banro" or the "Company") (NYSE MKT:BAA)(TSX:BAA) hereby notifies holders of Series A Preference Shares of Banro ("Banro Series A Shares") and holders of Preferred Shares of Banro...
DailyFinance  Mar 15  Comment 
TORONTO, ONTARIO -- (Marketwired) -- 03/14/14 -- Banro Corporation ("Banro" or the "Company") (NYSE MKT: BAA)(TSX: BAA) hereby notifies holders of Series A Preference Shares of Banro ("Banro Series A Shares") and holders of Preferred Shares of...
DailyFinance  Feb 12  Comment 
TORONTO, ONTARIO -- (Marketwired) -- 02/12/14 -- Banro Corporation ("Banro" or the "Company") (NYSE MKT: BAA)(TSX: BAA) announces that it intends to raise US$40 million through the issue of convertible preferred shares by way of a non-brokered...
Forbes  Feb 11  Comment 
In trading on Tuesday, precious metals shares were relative leaders, up on the day by about 3.8%.  Leading the group were shares of Banro (BAA), up about 13.9% and shares of Golden Star Resources (GSS) up about 9.5% on the day.
DailyFinance  Dec 31  Comment 
TORONTO, ONTARIO -- (Marketwired) -- 12/31/13 -- Banro Corporation ("Banro" or the "Company") (NYSE MKT: BAA)(TSX: BAA) is pleased to announce that its Namoya mine in the Democratic Republic of the Congo ("DRC") successfully began gold...
SeekingAlpha  Dec 23  Comment 
If you recall, in our last article we calculated historical risk spreads between various asset classes. Not content to leave that topic in an unfinished state, here's the results of some further calculations - this time looking at debt vis-a-vis...
DailyFinance  Dec 16  Comment 
TORONTO, ONTARIO -- (Marketwired) -- 12/16/13 -- Banro Corporation ("Banro" or the "Company") (NYSE MKT: BAA)(TSX: BAA) hereby notifies holders of Series A Preference Shares of Banro ("Banro Series A Shares") and holders of Preferred Shares of...


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.).


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