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Banro Corp (BAA.TO)

BAA.TO on Toronto Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Banro CFO Kevin Jennings resigns
Tuesday, 26 Jul 2016 07:50am EDT 

Banro Corp : Banro provides corporate update . Banro Corp says Kevin Jennings, Chief Financial Officer of Banro, has accepted a position at another firm and will be resigning from company . Says Jennings will remain with Banro for next couple of months to ensure a smooth transition to new CFO .Company will conduct a search for a new CFO.  Full Article

Banro announces Q2 gold production results
Monday, 11 Jul 2016 05:43pm EDT 

Banro Corp : Twangiza and Namoya produced a combined 49,673 ounces of gold during Q2 of 2016 . Banro achieves record gold production results in Q2 as Namoya ramps up to full production levels .Banro Corp - second half of 2016 expected to deliver bulk of annual production for Twangiza and Namoya mines.  Full Article

Banro Q1 revenue $47 million
Wednesday, 11 May 2016 05:28pm EDT 

Banro Corp : Banro corp says twangiza produced 26,638 ounces of gold in q1 2016 with a cash cost of $639 per ounce . Q1 2016 consolidated (combined twangiza and namoya) gold production of 44,192 ounces with a cash cost of $767 per ounce . Banro corp says namoya produced 17,554 ounces of gold in q1 2016 with a cash cost of $959 per ounce . Production from twangiza, namoya mines is heavily weighted in mine plan to second half of year . Banro corp qtrly loss per share $0.09 . Banro announces q1 2016 financial results .Q1 revenue $47 million.  Full Article

Banro Corp gives FY 2015 gold production guidance
Thursday, 9 Jul 2015 05:50pm EDT 

Banro Corp:Sees FY 2015 annual gold production as a result of the outperformance of Twangiza combined with the delayed ramp-up of Namoya is expected to be 175,000 to 195,000 ounces.  Full Article

Banro Corp declare dividends payable on Series A preference shares
Thursday, 12 Mar 2015 09:06pm EDT 

Banro Corp:Declares a dividend payable of US$0.57 per Banro Series A Share.Payable on March 23 to holders of record of Banro Series A Shares on March 19.  Full Article

Banro Foundation signs agreement with multilateral and DRC Government-Funded Agency for construction of 13 new schools and hospital in Eastern Congo
Thursday, 6 Nov 2014 08:00am EST 

Banro Corp:To report on the 2014 achievements of the Banro Foundation, registered charity in Democratic Republic of the Congo (the DRC), which invests in education, health care and social infrastructure development.Two initiatives in particular represent wholly new departures by Foundation in tackling the challenges of development in the eastern DRC.Owing to success of the Banro Foundation in building social infrastructure projects in eastern DRC, the Banro Foundation has been engaged by the Central Bureau of Coordination (BCECO), an executive agency created by Congolese Government and World Bank.To build 13 schools and one hospital in Maniema Province, DRC.The agency has agreed to pay the Foundation total of $2.85 mln to cover all costs of construction.Banro Foundation plans to reinvest margins generated through this agreement in new programs for the Congolese communities where it has operations or offices.The agreement with the BCECO represents one of several partnerships with NGOs and agencies which the Banro Foundation has forged in recent years to promote development.  Full Article

Banro Corp and Gold Holding sign definitive agreement for $41 mln gold sale transaction
Tuesday, 4 Nov 2014 08:00am EST 

Banro Corp:Signs definitive agreement with Gold Holding Ltd for the $41 mln gold sale transaction relating to the Twangiza mine.This transaction, which is expected to close within the next few weeks, involves the prepayment by Gold Holding of $41 mln for purchase of 40,500 ounces of gold (amended from 40,000 ounces of gold) from the Twangiza mine, with the gold deliverable over four years, at 10,125 ounces per year.Contemplated $80 mln gold sale transaction with Gold Holding relating to the Namoya mine, as referred to in Banro's Oct. 15, 2014 and Aug. 18, 2014 press releases, is anticipated to close before the end of this calendar year subject to finalizing the definitive agreement with Gold Holding.  Full Article

Banro and Gold Holding advance toward definitive agreements for banro's $121 mln financing
Wednesday, 15 Oct 2014 10:01am EDT 

Banro Corp:Says that, pursuant to the memorandum of understanding announced by Banro on Aug. 18, it is progressing towards finalizing the definitive agreements with Gold Holding Ltd for the two gold sale transactions to raise $121 mln in financing for Banro.First such transaction for $41 mln relating to the Twangiza mine and the second transaction for $80 mln relating to the Namoya mine.Banro and Gold Holding expect to sign the definitive agreement related to the Twangiza transaction in one week to 10 business days and to close this transaction within a month.Banro and Gold Holding also expect the Namoya transaction to close by mid-Dec. 2014, subject to finalizing the definitive agreements.  Full Article

Banro Corp announces Financing Plan and new CFO
Monday, 18 Aug 2014 03:46pm EDT 

Banro Corp:Develops comprehensive financing plan to stabilize financial condition of company and secure funds required to achieve full production capacity at Namoya mine.The financing plan includes closing of a $35.5 mln liquidity backstop facility with investment funds managed by Gramercy Funds Management LLC.Also signs memorandum of understanding with private gold group.Banro has signed non-binding MOU with private gold group (buyer) for two gold sale transactions, one for $41 mln relating to Twangiza mine and second for $80 mln relating to Namoya mine.Twangiza transaction contemplates prepayment by Buyer of $41 mln for its purchase of 40,000 ounces of gold from Twangiza mine, with gold deliverable over four years, at 10,000 ounces per year.Under both Twangiza and Namoya arrangements, it is contemplated that Buyer will have option to purchase additional 10 pct of gold produced at spot prices.Namoya gold streaming arrangement may be terminated at any time upon payment to the Buyer of a one-time termination amount that would result in Buyer receiving an amount equal to IRR of 15 pct on the Deposit.Appoints Kevin Jennings as Senior Vice President and Chief Financial Officer effective Sept. 01.Also effective Sept. 01, Donat Madilo, currently Chief Financial Officer, will be appointed to the role of Senior Vice President, Commercial and DRC Affairs.  Full Article

BRIEF-Banro CFO Kevin Jennings resigns

* Banro Corp says Kevin Jennings, Chief Financial Officer of Banro, has accepted a position at another firm and will be resigning from company