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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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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.
October 7, 2014
06:42 EDTBAABanro Corporation reports Q3 Twangiza mine production up 30% vs. last year
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