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BANRO CORP.
> April 3 - Banro Announces Year End 2016 Financial Results
Post by
Raymondb on Apr 03, 2017 9:23pm
April 3 - Banro Announces Year End 2016 Financial Results
TORONTO, ONTARIO—(Marketwired - April 3, 2017) - Banro Corporation (“Banro” or the “Company”) (NYSE MKT:BAA) (TSX:BAA) today announced its financial and operating results for the full year 2016 and fourth quarter 2016.
FINANCIAL HIGHLIGHTS
- Record 2016 revenue of $228 million, a 46% increase over 2015 ($157 million)
- Gross earnings from operations of $22 million
- 2016 EBITDA of $62 million
- Stakeholder approvals, with support of over 90% of votes cast, received for Recapitalization transactions
OPERATIONAL HIGHLIGHTS
- 2016 annual gold production of 197,691 ounces
- Twangiza produced 104,438 ounces of gold in 2016; 26,395 ounces in Q4 2016
- Namoya produced 93,253 ounces of gold in 2016; 24,054 ounces in Q4 2016
- 191,966 ounces of gold were sold at an average price of $1,190 per ounce (135,391 ounces of gold were sold at an average price of $1,157 per ounce in 2015)
- 2016 consolidated cash costs per ounce of gold of $761, in line with guidance
More Info Here:
https://www.banro.com/news-events/news-releases/banro-announces-year-end-2016-financial-results-20170403
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