In 2013, Democratic Republic of the Congo-focused Banro Corp. saw its share price tumble as gold prices dropped and concerns rose over a rebellion by M23 rebels. Although the rebel group has been disbanded, there remain other insurgents still stirring up trouble. Nevertheless, on May 13, Banro reported a first quarter profit of 3 cents a diluted share, up from nil a year earlier. This month, CEO John Clarke bought 100,000 shares and officer Arnold Kondrat bought 275,000 shares between 44 and 46 cents.
Ted Dixon is CEO of INK Research which provides insider news and knowledge to investors. For more background on insider reporting in Canada, visit the FAQ section. Securities referenced in this profile may have already appeared in recent reports distributed to INK subscribers. INK staff may also hold a position in profiled securities.
https://www.theglobeandmail.com/globe-investor/investment-ideas/ceo-buys-as-banro-turns-a-profit/article25041961/