Banro Resources ( BNRS-CDN) Message Board

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Gold/Mining/Energy : Banro Resources ( BNRS-CDN)

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To: dvid who wrote (30)	4/1/1998 8:08:00 PM
From: Len Hynes	of 73

Hi Dviv: These were warrants attached to an earlier financing that have now been exercised by the placees.....bringing $1.54 million into the treasury. Also today, Mike Schaeffer of Outstanding Investments re-iterated a "speculative buy" on Banro...and pointed to the distinct possibility in the near future of mineable reserves to be dramatically expanded,and to the very real likelihood of additional discoveries on Banro's 10,000 square kilometers of prospective ground. Look for the release of the remaining 7 holes from Phase One of the Twangiza drill program. Additionally,a further financing as alluded to in the latest news release is expected to be finalized and announced very shortly.Look for Phase Two of the Twangiza Deposit to be announced shortly thereafter with additional in-fill and exploratory drilling. I would expect to see Banro announce soon that they will begin drilling the high-grade Namoya deposit. Both drill programs will draw a lot of investor attention to the company in anticipation of some further exciting drill results. April and May months should prove to be exciting times for shareholders of Banro. Cheers! Len

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