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Banro Corporation CEO Simon Village presents corporate overview at Objective Capital Conference in London, UK held June 14, 2011
Banro Corporation (TSX, AMEX: BAA) CEO Simon Village provided a comprehensive overview of the company's growth strategy, at London's Objective Capital conference in mid-June. Mr. Village also offered an update on the construction of Banro's flagship Twangiza Phase I gold mine, which is scheduled to begin production in the fourth quarter of 2011.
Please click on the following link to view the video presentation. www.viddler.com/explore/objectivecapita/videos/186/
Also in June, the Banro's charitable foundation hosted a golf tournament near Toronto, Ontario which raised $80,000 in support of the Panzi Hospital in the eastern Congo. This project is one of many community programs supported by the Banro Foundation in the areas where the Company will be operating.
Please click on the following link to a recent Northern Miner coverage of the tournament and foundation programs:
http://www.banro.com/s/CorporateResponsibility.asp
Banro Corp. is a Canadian-based gold exploration and development company on the cusp of first gold production at its Twangiza Phase I mine, one of the Company's five wholly-owned projects along the 210 km Twangiza-Namoya gold belt in the Democratic Republic of the Congo in central Africa.
With construction well advanced and first gold production planned for Q4 2011, the Twangiza Phase I mine is designed for average annual gold production of 119,000 ounces for the first 5 years at total cash costs of US$356/oz during this time. A much larger Phase 2 mine is also planned for Twangiza. With current measured and indicated resources of 5.6 million ounces of gold, Twangiza hosts a major gold resource and offers several promising targets for future resource expansion.
Banro's second mine scheduled for development is the Namoya heap leach project some 200 km south of Twangiza, where construction is scheduled to begin in January 2012. A preliminary economic assessment recently completed at Namoya indicated average annual gold production of 124,000 ounces at a total average cash cost of US$359/oz.
In total, Banro has a resource of 11 million ounces of gold: 5.6 million ounces are Measured & Indicated. Also included in the 11 million ounces are 400,000 ozs of Inferred at Twangiza; 920,000 ozs of Inferred at Kamituga; 2.74 million ozs Inferred at Lugushwa; and 1.14 million ozs Measured & Indicated plus 240,000 ozs inferred at Namoya.
Additional gold exploration projects along this same gold belt include Lugushwa, where the completion of a preliminary economic assessment is being planned and Kamituga, where exploration began in February 2011.
For more information about Banro, please contact Tom Sipos, VP Corporate Development, and for information about the Banro Foundation, please contact Martin Jones, Chairman, Banro Foundation. Either may be reached via info@banro.com or at 416 366 2221, 1-800 714-7938. www.banro.com |