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Stock Market & Financial Investment News

News Breaks
January 31, 2013
10:17 EDTBAABanro Corporation increases oxide, free-milling ounces of gold by 45%
Banro Corporation provides an update of its Mineral Resource and Mineral Reserve estimates at its wholly-owned projects on the Twangiza-Namoya gold belt in the Democratic Republic of the Congo. Exploration drilling during 2012 at the four core projects, Twangiza, Namoya, Lugushwa and Kamituga, has resulted in positive growth in Mineral Resources and Mineral Reserves, particularly oxide and free-milling material, in line with the core strategy of the Company, whilst also ensuring the replacement of Mineral Reserves depleted thus far at the Twangiza Gold Mine. Banro's total oxide and free-milling Mineral Resource increased by 45%, representing 4.17Moz in the M&I category and 0.87Moz in the Inferred category. Banro's Measured & Indicated Mineral Resource has grown to 10.18 million ounces of gold, an increase of 41%, and the Inferred Mineral Resource has grown to 7.01Moz of gold, an increase of 56%.
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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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