Last C$0.29 CAD
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As of 3:58 PM 07/29/14 All times are local (Market data is delayed by at least 15 minutes).

banro corporation (BAA) Snapshot

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08/23/13 - C$1.20
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banro corporation (BAA) Details

Banro Corporation, together with its subsidiaries, engages in the exploration, development, and mining of gold properties. The company holds a 100% interest in 4 gold properties, including Twangiza, Namoya, Lugushwa, and Kamituga comprising 13 exploitation permits that cover an area of approximately 2,612 square kilometers in the South Kivu and Maniema provinces of the Democratic Republic of the Congo. It also owns 14 exploration permits covering an area of 2,638 square kilometers located in the vicinity of Twangiza and Namoya properties. The company was formerly known as Banro Resource Corporation and changed its name to Banro Corporation in January 2001. Banro Corporation was founded in 1951 and is headquartered in Toronto, Canada.

1,358 Employees
Last Reported Date: 03/31/14
Founded in 1951

banro corporation (BAA) Top Compensated Officers

Chief Executive Officer, President, Director ...
Total Annual Compensation: $458.3K
Founder and Executive Vice-President
Total Annual Compensation: $550.0K
Chief Financial Officer
Total Annual Compensation: $330.0K
Head of Projects & Operations
Total Annual Compensation: $237.5K
Vice President, General Counsel and Secretary
Total Annual Compensation: $308.3K
Compensation as of Fiscal Year 2013.

banro corporation (BAA) Key Developments

Banro Corporation Decides to Downsize the Main Namoya Operations

Banro Corporation cited a lack of availability of mobile crushing and screening equipment for the heap leach, as well as restrictions of the designed and constructed plant. It noted a number of critical components were installed in the new plant, which have been found to be at a lower capacity than required for effective functioning. The company thus decided to downsize the main Namoya operations, which will mean processing less material than originally planned while modifications are made to the wet plant and allow time for a traditional agglomeration facility to be procured and installed. As a result, production at Namoya is now expected to be in the range of 25,000 to 30,000 ounces for 2014.

Banro Corporation Reports Production Results for the Second Quarter of 2014 for its Twangiza and Namoya Gold Mines in the Democratic Republic of the Congo; Provides Production guidance for the Namoya Mine for the Year 2014

Banro Corporation reported production results for the second quarter of 2014 for its Twangiza and Namoya gold mines in the Democratic Republic of the Congo. Twangiza produced 21,431 ounces of gold in second quarter of 2014, an increase of 10.8% over the same quarter of 2013, despite rainfall affecting Twangiza in April. The dryer weather in May and June allowed for higher throughput resulting in an average quarterly production in line with the average quarterly production in 2013. The completion of the plant expansion program at Twangiza brings the throughput capacity to near the 1.7 million tonnes per annum range, however, quarterly target production may be closer to the annualized rate of 1.5 mtpa, with full capacity being reached under the most optimal conditions. The Company has put several measures in place including the installation of a roof over the mill feed stockpile and ore handling area, which is scheduled to be completed prior to the start of the next wet period. This is designed to secure an acceptable amount of dry material to maintain steady plant throughput. Total ore mined was 485,276 tonnes compared to 405,283 tonnes a year ago. Total ore milled was 340,654 tonnes compared to 235,730 tonnes a year ago. Head grade was 2.44 g/t Au compared to 2.91 g/t Au a year ago. Recovery was 84.3% compared to 83.39% a year ago. The company’s 2014 forecast has been updated to take into consideration the short term strategy. It was also necessary to update Twangiza's full year forecast slightly to reflect the very wet start to the year and the reduced production which resulted. With this update to production, full year 2014 guidance is as: Twangiza - 90,000 to 100,000 ounces; Namoya - 25,000 to 30,000 ounces; TOTAL - 115,000 to 130,000 ounces.

Liberty Street May Acquire Additional Stake In Banro

Liberty Street Capital Corp may acquire an additional stake in Banro Corporation (TSX:BAA). Liberty Street said that they remain interested in the company and are pleased to maintain a constructive dialogue. If circumstances warrant, Liberty Street will consider acquiring additional securities. Liberty Street will continue to be vigilant in determining if management fulfills its promises, and specifically if it delivers on its production objectives at Twangiza and Namoya over the coming months.


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