Banro (TSX:BAA, StockForum), a Toronto-based exploration and development firm, provided a production update for Q1 2014 on one of its four properties, Twangiza Gold Mine, located in the Democratic Republic of Congo (“DRC”).
According to the news release, “Despite much heavier than normal rainfall in the first quarter, Twangiza produced 20,137 ounces of gold, an increase of 2.7% over the same quarter of 2013, which had significantly less rainfall than 2014. This is roughly in line with the average quarterly production in 2013, as the plant nears completion of the expansion program to bring the throughput capacity up to the 1.7 million tonnes per year range.”
Company CEO, Dr. John Clarke, commented, “While the first quarter is typically one of the wetter periods of the year, a large part of the Eastern DRC has received exceedingly high levels of rainfall. This has had an impact on throughput at Twangiza but we believe that, on an on-going basis, we can make up for shortfalls during future dry periods.”