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December 4, 2012
09:23 EDTBAABanro provides update for its Twangiza Mine
Following the reinstatement of Ball Mill 1 in September, gold production at the Twangiza Gold Mine has been steadily increasing as a result of improved plant availabilities. This is demonstrated by November's performance with production of 8,559 ounces poured and unit costs below $700/oz. These are the best results for Twangiza since start up. Recovery for November was also a record since start up at 85.4%, where previously recoveries had averaged 81.5%. At times during November, gold recoveries reached the 90% mark at lower throughputs, illustrating that residence times are material to performance, which confirms the company's confidence that additional CIL capacity included in the upcoming expansion will have a positive impact upon plant recoveries. Despite frequent disruption to mining activity due to the onset of the rains, November's material movement from the Twangiza Main open pit has also increased to record levels since start up, mainly as a result of the benefits of owner operator management and improved mining fleet availabilities.
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April 10, 2014
08:17 EDTBAABanro Corporation provides Q1 production and operations update
Banro provided Q1 gold production and a brief operations update for its Twangiza and Namoya gold mines in the Democratic Republic of the Congo. Twangiza produced 20,137 ounces of gold in Q1, up 2.7% over 1Q13, which had significantly less rainfall than 2014. The company expects that, with the ending of the rainy season, Twangiza will be able to start to benefit from the process plant improvements facilitated during 2013. For the Namoya Project, the company recovered 3,362 ounces of gold from its semi-agglomerated heap leach operation in Namoya in Q1. As of the end of Q1 2014, project completion at Namoya stood at approximately 99%. Namoya is forecast to provide 50K-60K ounces of gold production in the commercial production phase during 2014, expected to begin in the second half of the year.

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