Sunday, June 19, 2016

Banro Corporation - BAA.t


Banro Corporation - BAA.t operates two gold mines in the DRC. Twangiza produced 135,500 ounces of gold in 2015.

Namoya is an open pit, oxide operation. Namoya entered commercial production in January 2016. Namoya has production targets of roughly 9,000 - 10,000 ounces per month at full run rate.

On May 11, 2016 the company released Numbers

"Banro Corporation (“Banro” or the “Company”) (NYSE MKT:BAA)(TSX:BAA) today announced its financial and operating results for the first quarter of 2016.
HIGHLIGHTS
•$98.75 million financing closed in February 2016
•Banro’s Mineral Reserves as at December 31, 2015, have grown year-on-year by 9%, after depletion, to 3.18 Moz of gold (48.61Mt @ 2.03 g/t Au)
•Q1 2016 consolidated (combined Twangiza and Namoya) gold production of 44,192 ounces with a cash cost of $767 per ounce, combined mine site all-in sustaining cost of $855 per ounce, and consolidated all-in sustaining cost of $949 per ounce, in-line with expectations and 2016 production guidance
•Q1 2016 revenue of $47 million
•Commercial production declared at Namoya effective January 1, 2016
•Twangiza produced 26,638 ounces of gold in Q1 2016 with a cash cost of $639 per ounce
•Namoya produced 17,554 ounces of gold in Q1 2016 with a cash cost of $959 per ounce