BANRO CORP. T.BAA

July 17-Banro Announces Q2 2017 Production Results/Financing

[Raymondb]

TORONTO, ONTARIO—(Marketwired - July 17, 2017) - Banro Corporation (“Banro” or the “Company”) (NYSE MKT:BAA)(TSX:BAA) announces operating results for the second quarter of 2017.

Twangiza and Namoya produced a combined 38,739 ounces of gold during the second quarter of 2017, for year-to-date total production of 84,954 ounces of gold. Twangiza produced 19,588 ounces of gold in the second quarter of 2017 and Namoya produced 19,151 ounces of gold for the same period.

News:
https://www.banro.com/news-events/news-releases/banro-announces-q2-2017-production-results-and-fin-20170717

[piojoazul]

That's like a 20% drop in production YoY from Q2 2016. Q2 2016 consolidated (combined Twangiza and Namoya) gold production of 49,673 ounces, an increase of 45% from Q2 2015.... I guess its to be expected considering the disruptions they have had lately.  

[Fullplate]

It looks like the rebel fighting only accounted for a small part of the production shortfall. Looks to me like the operational management is a bigger problem. It"s hard to tell from the press release if they have solved the problems. The only encouraging information was the grade. That looked good. They are selling forward production to keep operating, but they have to improve operations to