Banro Corporation (TSX:BAA, Stock Forum) has had a hard year and in an effort to cope with weather disappointments and operational letdowns announced an update today on Q2 2014 gold production and operations at its Twangiza and Namoya mines located in the Democratic Republic of Congo.
According to the news release, the company was able to up gold production in the quarter by 10.8% despite heavy rains in April at Twangiza and as a result maintained the same production throughput the company had recorded in the matching 2013 quarter. However the company needed to downgrade its 2014 guidance to deal with issues at its Namoya plant.
Shares plummeted 29.41% on the news to $0.36 per share.
| Select Canadian Small/Micro-cap Advancers (as of 4:00 PM Eastern) |
| Mawson West Limited (T.MWE, Stock Forum) |
7.46% |
| DragonWave Inc. (T.DWI, Stock Forum) |
7.20% |
| Teranga Gold Corporation (T.TGZ, Stock Forum) |
3.80% |
| Horizons BetaPro S&P\/TSX Global Gold Bear Plus ETF (T.HGD, Stock Forum) |
3.50% |
| MTY Food Group Inc. (T.MTY, Stock Forum) |
3.39% |
| Select Canadian Small/Micro-cap Decliners (as of 4:00 PM Eastern) |
| Banro Corporation (T.BAA, Stock Forum) |
-29.41% |
| Quest Rare Minerals Ltd. (V.QRM, Stock Forum) |
-16.13% |
| Fortuna Silver Mines Inc. (T.FVI, Stock Forum) |
-9.89% |
| RB Energy Inc. (T.RBI, Stock Forum) |
-6.15% |
| Premier Gold Mines Limited (T.PG, Stock Forum) |
-5.99% |