Hi Dvid:Hi Banro followers:
Looks like the property dispute involving Banro and the DRC will be going to arbitration. Hopefully, we can see the
resolution of this flagrant expropriation by the DRC in the near future.Maybe Mr. Kabila should have seen by now that one
sure way to cripple your economy, and to spurn foreign investment, is to "shoot yourself in the foot". If I were a betting man,
my guess is that the judge will see the transparency of this grevious matter, and vindicate Banro from any alleged
wrongdoing.
Here is the latest press release from Banro :
Banro Resource Corporation
TORONTO, March 16 /CNW/ - Banro Resource Corporation (CDN - BNRS),
through its wholly-owned subsidiary, Banro American Resources Inc., reports
that the International Center for the Settlement of Investment Disputes
(ICSID) has appointed Professor Prosper Weil of France as President of the
three member Arbitral Tribunal that will hear Banro American's claims against
the Government of the Democratic Republic of the Congo (DRC).
Under ICSID's rules, the tribunal is to hold its first session in
Washington, D.C. within 60 days to begin hearing Banro's claim for damages
arising from the expropriation by the DRC of valuable mineral properties and
other assets held by Banro American's 93% owned Congolese subsidiary, SAKIMA
SARL.
Management is optimistic that this claim will be resolved in Banro's
favour.
For further information, please visit our Web Site at
banro.com or contact:
Banro American Resources Inc.
Denver, Colorado
Bill Wilson Phone: (303) 820-2840
President Fax: (303) 595-9717
Banro Resource Corporation
In Johannesburg, S.A. contact:
Bernard van Rooyen Phone: 2711 476-5031
President & CEO Fax: 2711 476-5049
A.T. Kondrat - VP
Cliff Jones - Investor Relations Phone: (416) 366-2221
Toronto, Ontario Fax: (416) 366-7722
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