BAA ~$6.78 Million NET PROFIT, Target Multi-DOLLARS~Some important highlights from Q1 financials:
BAA posted $6.78 million NET PROFIT!
Earning per share 3 Cents. Beat the street by 5 cents!
https://seekingalpha.com/news/2522346-banro-beats-by-0_05
Revenue increased35%:
Revenues for the three months ended March 31, 2015 were $41,003, a 35% increase compared to the prior year’s quarter of $30,439.
Production increase by 22% to 35,943 ounces of gold in Q1 2015 compared to 29,445 ounces in Q4 2014 and an increase of 78% compared to 20,137 ounces in Q1 2014
Cash Cost down to $527 from $819:
Cash costs per ounce on a sales basis for the first quarter of 2015 were $527 per ounce of gold (compared to $819 per ounce of gold for Q1 2014).
All-in sustaining costs declined to $581 from $865:All-in sustaining costs declined in the current quarter to $581 per ounce (compared to $865 per ounce of gold in Q1 2014) driven by lower cash costs in the period.
IMPORTANT!
Q2 balance sheet will be better because of April payment!In February 2015, the Company signed definitive agreements for financing transactions of $90 million and closed the first tranche of $20 million (refer to corporate development below). The $70 million remainder of the financing transactions were closed in April 2015 (refer to subsequent events below). With the completion of these transactions in April 2015, the Company has extinguished certain debt instruments and improved its financial leverage
https://banro.mwnewsroom.com/press-releases/banro-announces-record-q1-2015-production-and-revenue-results-nyse-mkt-baa-201505141007155001
https://www.sec.gov/Archives/edgar/data/1286597/000106299315002671/exhibit99-1.htm
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BAA's Earnings Call Transcript:https://investorshub.advfn.com/boards/read_msg.aspx?message_id=113672670
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$90 MILLION NON-DILUTIVE FINANCING DONE with forward gold sales!
CNN Money: Banro Closes Balance of US$90 Million Financing
April 30, 2015: 11:45 AM ET
https://money.cnn.com/news/newsfeeds/articles/marketwire/1191643.htm
************** IMPORTANT DETAILS MUST READ ***************
1) Banro Corporation inc(BAA) is a Canadian gold company, its shares trade on TSX and NYSE/AMEX
Banro is a Canadian gold company with production from its first gold project, Twangiza, which is located in the Democratic Republic of the Congo. Banro is also focused on the development of its second open pit project Namoya and is undertaking exploration on two further fully permitted and licensed projects, Kamituga and Lugushwa. All Banro's current projects lie along the 210 km long Twangiza-Namoya gold belt in the South Kivu and Maniema provinces of the DRC.
https://www.banro.com
VIDEO LINK FROM GOLD MINE:
https://www.youtube.com/watch?v=Ei7C2o5uWkg
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BANRO JANUARY 2015 PRESENTATION!https://www.banro.com/i/pdf/presentation.pdf
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2) BAA~ owns 4 open pit Gold mines
A) Banro's Twangiza commenced production in 2011
Twangiza (Oxide) became Banro's first producing open pit gold mine when it entered production in October 2011, commencing commercial production in September 2012. With mill throughput at full capacity of 1.7 million tonnes per year, Twangiza (Oxide) is projected to produce upwards of 10,000 ounces of gold each month with an expected mine life of seven to eight years from currently-defined reserves.
Twangiza is the most advanced of Banro's four properties with a Mineral Reserve of 13.69 million tonnes grading 2.34g/t Au containing 1.03 million ounces of gold. The Twangiza deposit is comprised of two resource components -- an oxide portion and a transition rock/fresh rock portion -- with a focus on the oxide component which has a Measured & Indicated Resource of 15.56 million tonnes grading 2.21/t Au containing 1.10 million ounces of gold and an Inferred Resource of 1.27 million tonnes grading 1.35g/t Au containing 60,000 ounces of gold. The property is located 45 kilometres south-southwest of Bukavu in South Kivu Province and consists of six Exploitation Permits covering 1,164 square kilometres in the highly-prospective 210km long Twangiza-Namoya gold belt.
https://www.banro.com/s/Twangiza.asp?ReportID=307249
PICTURES FROM THE MINE:https://www.banro.com/s/Photos.asp?ReportID=539736
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B) Banro's Namoya commenced production at Q2 2014
Banro's Namoya (oxide) project began construction in the fourth quarter of 2012 and completed construction and began commissioning during Q2 of 2014. At full capacity, the Namoya mine is expected to produce roughly 9,000 to 10,000 ounces per month.
Namoya has a Proven & Probable resource of 23.00 million tonnes grading 2.34g/t Au containing 1.03 million ounces of gold. Measured and Indicated resources at Namoya are 29.78 million tonnes grading 1.91g/t Au containing 1.83 million ounces of gold plus an Inferred resource of 6.52 million tonnes grading 1.61g/t Au containing 340,000 ounces of gold. The updated resource calculation used a cut-off grade of 0.4g/t Au.
Field crew members check core at drill site.
The Namoya property lies at the southern end of the Twangiza-Namoya gold belt in Maniema province, approximately 225 kilometers southwest of Bukavu and consists of one PE covering an area of 174 square kilometres.
https://www.banro.com/s/Namoya.asp
PICTURES FROM THE MINE:https://www.banro.com/s/Photos.asp?ReportID=662856
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C) Banro Lugushwa Project
Drilling has intercepted wide zones of gold mineralization at Lugushwa, the oxide portion of which has an Indicated Mineral Resource of 16.91 million tonnes grading 1.35g/t Au containing 730,000 ounces of gold and an Inferred Resource of 6.17 million tonnes grading 1.56g/t Au containing 310,000 ounces of gold. Lugushwa (transition and fresh rock) has an Inferred resource of 65.01 million tonnes grading 1.54g/t Au containing 3.22 million ounces of gold. Senior project geologist checks drill core
The three Lugushwa exploration permits, covering an area of 641 square kilometers, are located approximately 150 kilometres southwest of the town of Bukavu.
https://www.banro.com/s/Lugushwa.asp
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D) Banro Kamituga Project
In February 2011, Banro established its first exploration camp at Kamituga and began exploration of this high potential project, which has a long history of significant gold production.
Kamituga is located 100 kilometres southwest of Bukavu and consists of three PEs covering an area of 649 square kilometres.
Of Banro's four major properties, Kamituga has the longest history of substantial previous alluvial and underground mining operations. Kamituga has an Inferred resource (surface) of 4.14 million tonnes grading 2.40g/t Au containing 32,000 ounces of gold and an Inferred (underground) resource of 3.12 million tonnes grading 6.00g/t Au containing 60,000 ounces of gold.
https://www.banro.com/s/Kamituga.asp?ReportID=307256
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3) BAA explored 11.8% of concession area to date and found 8.35 Million ounce of gold
https://www.banro.com/i/pdf/Exploration-Potential-of-the-Twangiza-Namoya-Gold-Belt-May-2014.pdf
https://www.banro.com/s/Resources.asp
Reserve value about 10 billion dollars with current gold price.
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4) BAA~~ Financials
BAA started to production in 2012
Revenue in 2103: $111.8 million /
Net Profit: $1.63 million
Revenue in 2014: $125.4 million /
Net Profit: $320K
https://www.banro.com/i/pdf/2014AnnualReport.pdf
Revenue at Q1 2015: 41 million dollars/ NET PROFIT: $6.78 MILLION
https://www.marketwatch.com/story/banro-announces-record-q1-2015-production-and-revenue-results-2015-05-13-201735552
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5) BAA~ Book value per share 1.98 dollars
Total Equity: 498.9 million dollars.
Book Value: Total Equity/ Outstanding shares
Book value: $498.9 million/ 252 million Outstanding shares= 1.98 dollars
https://www.sec.gov/Archives/edgar/data/1286597/000106299315002671/exhibit99-1.htm
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6) BAA's 2015 production target between 200,000 and 220,000 ounce gold
For 2015:
Twangiza - 110,000 to 120,000 ounces
Namoya 1H 2015 - monthly production of up to 5,000 ounces
Namoya 2H 2015 - monthly production of up to 8,000 ounces
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2015 TOTAL - 200,000 to 220,000 ounces
https://news.banro.com/press-releases/banro-announces-financing-plan-and-certain-senior--nyse-mkt-baa-201408180963388001
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7) BAA~ has 252 million Outstanding shares.
BIGGEST SHAREHOLDER!:
BlackRock Global Funds - 10.54% 26,567,276 shares
https://www.sec.gov/Archives/edgar/data/1286597/000108636415000025/banro.corp.txt
Investors Canadian Natural Res-
5.09% 12,825,500
Gramercy Funds Management LLC-
4.31% 10,873,150
Geologic Resource Partners LLC-
3.57% 9,000,000
Mackenzie Financial Corp.-
2.95% 7,425,000
I. G.Investment Management Ltd.-
2.95% 7,425,000
Advisors InnerCircle II-
1.82% 4,576,000
Investors Global Natural Res.-
1.79% 4,500,000
Canadian Small Cap Fund-
1.50% 3,778,450
Wellington Management Co. LLP-
1.15% 2,897,513
Canada Pension Plan-
0.98% 2,467,000
https://money.cnn.com/quote/shareholders/shareholders.html?symb=BAA&subView=institutional
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% Held by Insiders1: 8.25%
% Held by Institutions1: 57.10%%
https://finviz.com/quote.ashx?t=BAA
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2 Trillion Dollars Fund State Street Global Advisors's SPDR® S&P® International Small Cap ETF (NYSEARCA:GWX) added BAA common shares to their portfolio as of May 06, 2015
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=113673823
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8) BAA~ Banro has experienced Management Team
Chairman Richard Brissenden
Richard Brissenden is a mining executive and corporate director with over thirty years of experience in the resource sector. A Chartered Professional Accountant (CPA, CA) and Certified Director (ICD.D), he serves on the board and audit committee for several mining companies, including McEwen Mining, Ryan Gold Corp., and Corona Gold Corporation. As chairman and president of Excellon Resources Inc. from 1991 to 2008, he led the company through the discovery, development and production stages of a high-grade silver/lead/zinc mine in Northeastern Mexico. He has also been a director of HudBay Minerals Inc., as well as president of a gold producer in Alaska, and president of a mine finance house with interests in over fifty junior mining companies. He is a member of the Institute of Chartered Accountants of Ontario and the Institute of Corporate Directors.
BAA CEO John Clarke: FOUNDER OF NEVSUN MINE, THE COMPANY'S STOCK ROCKED FROM 10 CENTS TO 10 DOLLARS UNDER HIS MANAGEMENT
Dr. Clarke is a non-executive director of Great Quest Metals Ltd. Most recently, served as the CEO of Nevsun Resources Limited, which successfully brought the Bisha Mine into production in Eritrea. Prior to joining Nevsun in 1997, Dr. Clarke was an Executive Director of Ashanti Goldfields Company Limited of Ghana, where he helped establish Ashanti's gold exploration program throughout sub-Saharan Africa. Dr. Clarke holds a Ph.D. in metallurgy from Cambridge University and M.B.A. from the University of Middlesex.
https://www.banro.com/s/Directors.asp
New CFO from Barrick Gold:
Kevin Jennings will be joining Banro as Senior Vice President and Chief Financial Officer effective September 1, 2014. Kevin has over 20 years' experience in corporate finance, corporate development, strategy and senior management positions with global mining companies. Most recently, Kevin served as CFO of SUN Gold. Prior to that, he led the successful IPO of African Barrick Gold where he held the role of CFO, and over his career has managed mining international acquisitions, divestitures and project investments worth more than US$10 billion. Kevin has also served in senior corporate roles with Barrick Gold, (Vice President, Corporate Development), Xstrata Nickel, (Director, Business Optimization), Falconbridge (Director, Business Development), and American Racing Equipment (CFO). Kevin is a Chartered Accountant with a BA in Administrative studies (Honours Accounting) from York University and a BA in Economics from the University of Western Ontario.
https://news.banro.com/press-releases/banro-announces-financing-plan-and-certain-senior--nyse-mkt-baa-201408180963388001