Banro Corp Opens Higher As Resource Estimate at Namoya Project Increase 39%

Banro Corporation (BAA.TO) opened higher to $3.65 at today's session and is continuously posting gains, now up almost 2% at $3.70 compared to yesterday's $3.63 close, as it announce today an increase in mineral resource estimates for its wholly-owned Namoya project.

The company said estimated measured and indicated mineral resources have increased by 39% to 1.58 million ounces of gold (24.77 million tonnes grading 1.99 g/t Au with a cut-off grade of 0.4g/t Au), compared with the previous measured and indicated mineral resource estimates of 1.13 million ounces of gold with a cut-off grade 0.4g/t Au (14.58 million tonnes at a grade of 2.43 g/t Au).

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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