20 May 2014resource reserve update● Neutral
The Venmyn Deloitte technical report on Namoya, effective 31 December 2013, supporting the mine's first declared reserve.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
27 Mar 2014resource reserve update▼ BadMajor
Declared Namoya's first mineral reserve - 1.34 million proven and probable ounces, 73% of its 1.83 million measured and indicated ounces - lifting group reserves 53% to 2.36 million ounces at US$1,200 gold. Against that, Twangiza's reserve fell 33% to 1.03 million ounces (20.2% from the lower gold price, 6.5% depletion, 6.3% higher costs), group measured and indicated resources fell from 10.18 to 8.35 million ounces and inferred from 7.01 to 5.32 million, with Lugushwa's inferred resource cut 27.6%.
15 July 2013drilling result▲ Good
Further infill drilling at Namoya, including 39.60 m at 21.48 g/t gold and 6.00 m at 16.13 g/t, from holes drilled in late 2012 as the mine was being built.
17 Apr 2013resource reserve update● Neutral
A further filing of the same Venmyn Deloitte Lugushwa technical report first filed in March 2013.
21 Mar 2013resource reserve update● Neutral
The Lugushwa technical report itself, prepared by Venmyn Deloitte for the South Kivu project - the third of the four properties on the belt, then still undeveloped.
18 Mar 2013resource reserve update● Neutral
Filed the Venmyn Deloitte NI 43-101 technical report on the Lugushwa gold project, effective 15 March 2013.
1 Feb 2013resource reserve update▲ GoodMajor
Group measured and indicated resources rose 41% to 10.18 million ounces and inferred 56% to 7.01 million ounces, with the oxide and free-milling portion - the material Banro can actually treat by heap leach and CIL - up 45% to 4.17 million M&I ounces. At Namoya, M&I rose 17.7% to 1.86 million ounces.
16 Nov 2012drilling result▲ Good
Exploration results across all four projects, including 47.00 m at 7.20 g/t and 6.95 m at 43.30 g/t gold at Namoya, 71.90 m at 2.11 g/t at Lugushwa and 36.00 m at 3.08 g/t at Kamituga, with a full resource and reserve update promised for the new year.
12 Mar 2012resource reserve update● Neutral
Filed the NI 43-101 technical report for Namoya Phase 1 on SEDAR and EDGAR, prepared by Venmyn Rand and dated 24 January 2012.
12 Mar 2012resource reserve update● Neutral
The Venmyn Rand technical report behind the January 2012 Namoya Phase 1 assessment, dated 24 January 2012.
24 Jan 2012resource reserve update▲ GoodMajor
Updated economic assessment for Namoya Phase 1, a gravity and heap-leach operation on oxide and transitional ore: 122,000 ounces a year for the first five years at US$464 an ounce cash cost, US$148m to build, a 71.3% after-tax return and a US$366m net present value at US$1,500 gold with a ten-month payback.
24 Jan 2012drilling result▲ Good
Initial trenching at the Kamituga project returned 51.0 m at 2.65 g/t, 32.0 m at 2.36 g/t and 18.0 m at 3.06 g/t gold from the Kibukila and Mobale prospects - the third of Banro's four projects on the 210 km Twangiza-Namoya belt to show grade at surface.
23 Dec 2011resource reserve update▲ GoodMajor
Lifted measured and indicated resources at Namoya, the second mine on the belt, 39% to 1.58 million ounces (24.77 Mt at 1.99 g/t, 0.4 g/t cut-off), with 440,000 inferred ounces (9.47 Mt at 1.44 g/t). The ounce count rose on far more tonnes at a lower grade: the January 2011 estimate was 14.58 Mt at 2.43 g/t.
27 June 2011drilling result▲ GoodMajor
Infill drilling at Namoya for the feasibility study returned 28.30 m at 2.78 g/t, 11.76 m at 6.44 g/t and 9.34 m at 7.56 g/t gold, none of it in the January 2011 resource estimate. Namoya was then being tabled for production in Q1 2013, with the feasibility study due December 2011 and construction from Q1 2012.
28 Mar 2011resource reserve update● Neutral
A revised version of the Twangiza Phase 1 economic assessment, same 9 March effective date but revised on 24 March 2011, with a changed author list.
11 Mar 2011resource reserve update● Neutral
SENET's economic assessment technical report for Twangiza Phase 1, effective 9 March 2011, filed while the plant was already 86% built.
9 Mar 2011resource reserve update● Neutral
SENET's NI 43-101 preliminary assessment of the Namoya heap-leach project, effective 3 March 2011 - the study behind the January 2011 Namoya numbers that were superseded by the January 2012 assessment.
19 Aug 2008resource reserve update▲ GoodMajor
Pre-feasibility study on the Twangiza gold project in South Kivu: a mine averaging 345,125 ounces a year in its first three years and 195,772 over its life, at cash costs of US$212 an ounce falling out to US$345, with a post-tax net present value of US$352m and a 20.5% return. The authors recommended progressing to a bankable feasibility study and flagged that much of the indicated resource rested on relatively wide-spaced data needing infill drilling to firm up the early mine schedule.