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Banro's Mission ~ To unlock shareholder value by increasing and developing the Company's significant gold assets in a socially and environmentally responsible manner.
Led by a focused management team with extensive African and gold industry experience, Banro is developing four, wholly-owned properties along the 210 km Twangiza-Namoya gold belt in the Democratic Republic of the Congo. Each of these projects has mining licenses, allowing development to begin without further permitting required.
The Company has so far identified 4.81 million ounces of Measured and Indicated Resources, plus Inferred Resources of 6.98 million ounces.
In November, 2004, Banro launched an aggressive exploration program to fully delineate and extend the total resource base. Currently, there are nine drilling rigs active on three properties -- Twangiza, Lugushwa and Namoya. The Company also plans to begin exploration at Kamituga in 2008. Scoping studies were completed in June 2007 on the Twangiza and Namoya properties; the results of two pre-feasibility studies will be announced in June 2008. Full feasibility studies are due for completion in December 2008.
In addition to its current properties, which cover 2,600 square kilometers, Banro was recently awarded 14 exploration permits covering 3,130 square kilometres and located on highly prospective ground between its Twangiza and Lugushwa projects. Applications for additional PRs contiguous to and located between the Company's Lugushwa and Namoya projects, along with areas south of Twangiza, are pending.
With its substantial outlined resource base and focused leadership team, Banro enjoys strong support from institutional investors in North America, the U.K., Europe and South Africa.
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