Any gold bugs following this company.The stock has been performing beautifully during the past 3-4 weeks and looks set to go much higher.Look at the buying support behind the company.Back in 1998, this stock had reached approx. $12, with about 15 million shares out for a market cap of $180 million..Now at $5 with approx. 9 million shares, the stock has a comparative market cap of just $45 million.
As a matte of summary, Banro has 4 high quality gold assets in the DRC, with approx. 15 million ounces in the insitu resource category.This is one huge undervalued gold asset that will very soon catch the attention of major companies.Banro has just recently signed an agreement with the DRC which has restored 100% these gold assets
to Banro.....here is that news release:
DRC signs settlement agreement with Banro
10:31 EDT Friday, April 19, 2002
KINSHASA, April 19 /CNW/ - Banro Corporation (the
"Company") (CDNX - YBE) is pleased to announce that the Government of the Democratic
Republic of the Congo (DRC) has formally signed a Settlement Agreement with the Company at a
signing ceremony in Kinshasa on Thursday April 18, 2002. Present to witness the ceremony was
the Ambassador from Canada to the DRC, his Excellency Roland Goulet.
The Agreement calls for, among other things, the Company to hold a 100 percent interest in the
Twangiza, Kamituga, Lugushwa and Namoya gold deposits under a revived thirty-year mining
Convention. The DRC retains 100 per cent of the tin assets.
"The message we wish to send out to the international mining and investment community is clear;
the DRC values and encourages foreign investment in order to rebuild its economy" said His
Excellency Simon TUMA- WAKU Bawangamio, Minister of Mines and Hydrocarbons for the
DRC.
"We were very impressed with the determination of the DRC in resolving the Banro issue," said
Mr. Arnold Kondrat, Executive VP and Managing Director of Banro. "We extend our
warm-hearted thanks to all those involved in the settlement process and express our confidence
that better days are ahead for the DRC," he added.
The Canadian Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this press release.
For further information: Mr. Arnold T. Kondrat, Executive Vice President; Mr. Cliff Jones,
Investor Relations, Phone: (416) 366-2221, Fax: (416) 366-7722
© 2002 Canada Newswire Ltd. |
