Hi Banro Followers:
Interest in Banro Resources (BNRS-CDN) seems to be building nicely among retail investors, and this will grow significantly as institutions and newsletter writers spread the word. The latest writer to "pick up" the stock is Michael Schaeffer of "Outstanding Investments"...a well known newsletter writer who has recommended some real winners i.e. Arequippa,Francisco Gold, Western Copper etc.
To cite from Mike's report...the Sakima project...should be called discovery heaven or a geologist's dream.....consultations with two conservative independent geologists indicate that the Sakima project could easily yield up combined deposits approaching 110 million ounces....".
At this moment, Banro has an estimated gold resource of approx. 13 million ounces.
Like many followers of Banro, Mike expects the share price to move much higher over the next two months as further results from drilling are released. I am told by Banro that the company should have the first 20 holes completed by the end of March, at which time we could see a revised resource calculation.
A recent report by Simon Lawrence of ABN-AMRO, earlier referred to on this tread, indicated that BNRS is trading on an enterprise value of U.S.$5 per resource ounce compared to a U.S. $43 per resource ounce valuation of a peer group of African gold companies. Hence, a tremendous undervaluation which will eventually lead to enormous profits for investors who are astute enough to capitalize on this opportunity.
Investors who will be attending the PDAC show in Toronto March7-11/98 might want to cash in on the presentation to be given by Banro officials ....and to get information first-hand on this exciting company. Seven holes have been reported so far, and we may see further results before , during, or shortly after the conference. Most companies like to take center stage with news at an event such as this, personally, I would expect Banro to be no different. Further drill results that correspond to previous holes i.e.450 meters of 1.64g/t, 140 meters of 2.39g/t,313 meters of 2.92g/t...etc.. etc...will most likely move this stock to a much higher price level, when one considers the level of extreme undervaluation.
March should be a very interesting month for Banro, and a very profitable one for shareholders. |
