Location:
Congo, Dem. Rep. of
Nearest Landmark:
GOMA
Distance from Landmark:
150 km
Direction from Landmark:
South
Latitude:
2 Degrees 55 Minutes (South)
Longitude:
28 Degrees 45 Minutes (East)
Banro announced that it has entered into an agreement to purchase a refurbished gold processing plant capable of achieving a throughput capacity of 1.3 million tonnes per annum. The closing of the purchase of the plant is expected to occur on or about September 21, 2009.
Banro announce updated results of the Feasibility Study of the Twangiza project, located on the Twangiza-Namoya gold belt in the Democratic Republic of the Congo. Highlights includes total Proven and Probable Reserves have increased by 0.87 million ounces (23.7%) from 3.67 million ounces to 4.54 million ounces of gold. Also initial capital costs have decreased by 7.9% from US$409.65 million to US$377.43 million. These initial capital costs include a contingency of US$35.5 million.
Banro announced an updated independent mineral resource estimate for its wholly-owned Namoya project located on the Twangiza-Namoya gold belt in the Democratic Republic of Congo. Measured and indicated resources total 1.125 million ounces of gold and inferred resources total 407,700 ounces of gold.
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