Rebel Fighting Near NamoyaIt is very unfortunate that there is a resumption of the rebel fighting around Namoya. Banro wisely shut down Namoya and evacuated most staff and mobile equipment. It sounds like a couple of dozen contract truck drivers are being detained. I hope that they are free to go soon.
It's tough to invest under these circumstances. Lots of selling pressure today in the US. Down 13% to under 63 cents per share and market cap of $69 million. Unless you believe that the unrest and slipshod executive management result in a company liquidation, these valuations are very attractive. After all, this is becoming a mid-tier producer in a fantastic resource. As long as the Congo government can maintain the rule of law, Banro will come through fine.
I did add shares again today for the first time in a few weeks. I'm not hoping for fresh opportunities to add, but will take them when they occur. I'm hoping the conflicts settle down and the residents will be safe and able to get back to work and prosper.