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Stock Market & Financial Investment News

News Breaks
January 14, 2013
08:53 EDTBAABanro Corporation provides Q4 production update for Tangiza Gold Mine
Banro Corporation provides a gold production update for its Twangiza Gold Mine in the Democratic Republic of the Congo. Twangiza produced 19,750 ounces of gold for Q4. This was Twangiza's best quarterly performance since start-up, which has enabled management to fully assess the expansion potential, and operational issues required to achieve higher levels of productivity. A comprehensive upgrade of the metallurgical plant is now underway which in brief includes the introduction of a larger front end crusher, as well as increasing the CIL tank volumes and doubling elution capability. The full expansion exercise is planned to be completed by the end of the Q3. This will increase throughputs to 1.7Mtpa, or 425,000t/quarter, which is approximately 68% higher than 4Q12 and, together with higher recoveries expected to be in the 90% range, unit costs will reduce further to $500-$600 per ounce.
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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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