Banro - From Gold Explorer to Mine Developer

Banro Gold: Proven and Probable Reserves Increase to 4.52 Million Ounces at Twangiza

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Message: Banro closes CDN$100,001,700 financing

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teedot

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Re: Banro closes CDN$100,001,700 financing

in response to Banro closes CDN$100,001,700 financing by AGORACOM

posted on Jun 25, 09 11:46AM

Wow. so much to say.

Banro is going to build a mine in the Congo

Shares are currently under a floor established by GMP & CIBC

the 15% over allotment is 15 million dollars more

Banro is only using 75 Million to advance Twangiza

25 million + an assumed over allotment of 15Million is 40 Million for corporat e purposes, this will cover feasibility and scoping and mettallurgy ( assumed on my part, but assume accurate)

100 Million shares and a prouction facilty to address more than 4 million ounces of gold

Shockingly good and judging by the time from which this was announced to closing you can guarantee that this was a pretty much bought deal and the confidence that represents in the project stands out demonstratively

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