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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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October 15, 2014
10:03 EDTBAABanro Corporation progressing towards financing agreements with Gold Holding
Banro Corporation announced that, pursuant to the memorandum of understanding announced by Banro on August 18, it is progressing towards finalizing the definitive agreements with Gold Holding Ltd for the two gold sale transactions to raise $121M in financing for Banro, the first such transaction for $41M relating to the Twangiza mine and the second transaction for $80M relating to the Namoya mine. Banro and Gold Holding expect to sign the definitive agreement related to the Twangiza transaction in one week to 10 business days and to close this transaction within a month. Banro and Gold Holding also expect the Namoya transaction to close by mid-December, subject to finalizing the definitive agreements.

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