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03.01.18 15:15

299 Postings, 2676 Tage derberndImmerhin ;-)

Banro Provides Update on Namoya Mine

14:56 Uhr  |  Marketwired

TORONTO, ONTARIO--(Marketwired - Jan 3, 2018) - Banro Corp. (the "Company") (NYSE MKT:BAA)(TSX:BAA) reports that mining operations at the Company's Namoya mine have recommenced, as a result of the reestablishment of the road access to the mine. The Company is grateful for the support of both the regional and national governments during this period. The Company intends to progressively ramp up production at Namoya during January.

As reported in the Company's September 25, 2017 press release, the suspension of mining operations at the Namoya mine was due to the activities of local groups, which took control over certain areas along the sole supply road to Namoya and shut down transit. The impact of those activities resulted in the depletion of essential operating stock and supplies, leading to the temporary suspension of mining operations at Namoya.

Normal operations are continuing at the Company's Twangiza mine.

Banro Corporation is a Canadian gold mining company focused on production from the Twangiza and Namoya mines, which began commercial production in September 2012 and January 2016 respectively. The Company's longer-term objectives include the development of two additional major, wholly-owned gold projects, Lugushwa and Kamituga. The four projects, each of which has a mining license, are located along the 210 kilometre long Twangiza-Namoya gold belt in the South Kivu and Maniema provinces of the Democratic Republic of the Congo. All business activities are followed in a socially and environmentally responsible manner.  

08.01.18 22:48

776 Postings, 3110 Tage stksat|228891975sorry, aber sieht schlecht für

shareholder aus...
(bin persönlich nicht mehr investiert. hab aber auch einiges an kapital hier liegen gelassen....)

hab nach einer Anfrage zum aktuellen Status folgende Infomail erhalten:



The Monitor confirms receipt of your email. On December 22nd, 2017, Banro Corporation and associated entities obtained an Initial Order under the Companies’ Creditors Arrangement Act (CCAA). With respect to delisting, the exchanges are responsible for such decisions. The Monitor can provide no comment on when or if the trading halt would be lifted. As set out in the CCAA application materials, Banro has entered into a support agreement for a restructuring which it would seek to complete if no better alternative transaction is identified through the sale and investor solicitation process that is contemplated to commence in January if approved by the court. If the restructuring is implemented in accordance with the restructuring term sheet, existing equity would be extinguished.

To obtain a copy of the Initial Order, please visit http://cfcanada.fticonsulting.com/banro.



FTI Consulting Canada Inc.
FTI Consulting in its capacity as Monitor of Banro Corporation et al.

 

11.01.18 13:49

11554 Postings, 2481 Tage VassagoBAA 0,106$

Banro meldet Produktionszahlen für 2017

  • 45 koz Gold in Q4/17
  • 179 koz Gold in 2017

https://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aBAA-2555452

 

22.01.18 20:18

1137 Postings, 2918 Tage PischamanWas ist hier los, kann man die nicht handeln?

Wollte den Müll aus meinem depot schmeissen  

23.01.18 23:13

299 Postings, 2676 Tage derberndWas passiert mit den altaktionären?

Sind die bestehen Aktien im Depot automatisch wertlos oder wird man in irgendeiner Form abgefertigt? - wenn wertlos, bekommt man den Totalverlust wenigstens am steuerkonto gutgeschrieben? Weiß da jemand Bescheid? Danke im Voraus  

24.01.18 02:58

1137 Postings, 2918 Tage PischamanSteuer

Wenn man die nicht los wird , bekommst du auch keinerlei steuerliche Anrechnungen :/
Privatübertragung wäre evtl möglich..usw

Also sollte man bei solchen klitschen immer vorher verkaufen solange es möglich ist um den verlust zu dokumentieren bzw anrechenbar zu machen

...man lernt nie aus :(
 

01.02.18 17:49

299 Postings, 2676 Tage derberndSammelklage

... hab diese Infos vom Wallstreet online Forum...

In den USA wird eine Sammelklage gegen das Vorgehen bei BANRO vorbereitet. Aktionäre von BANRO können sich auf eine Informationsliste setzen lassen, dafür an die Email in diesem Thread schreiben: https://investorshub.advfn.com/boards/...g.aspx?message_id=137395286. Vorlagemail: I am a shareholder of BANRO CORP and I found your email address in the investorshub forum. Please add me to your class action information list so that I might join the class action suit. Thanks and best regards,

Banro - unbekannt, aber mit Potential | wallstreet-online.de - Vollständige Diskussion unter:
https://www.wallstreet-online.de/diskussion/...ential#neuster_beitrag  

08.05.18 09:41

10013 Postings, 6604 Tage Bozkaschiemail vom Banro Anwalt U.S.


So, we are in the U.S. Federal District Court, Southern District of New York.

The Judge had a conference in her chambers with our lawyer and Banro's lawyer in late April.

Banro was represented by  Akin Gump, a large and well known New York law firm.  The Senior Litigation Partner attended the conference with a team of lawyers.  This guy bills out at thousands per hour so they are taking this seriously.  Our lawyer went alone.

The first issue was the issue of serving John Clarke, CEO of Banro.  We had not been able to serve him because he lives in Britain and there are 30,000 John Clarke's in Britain.  Our server could not find him.  We had asked Banro's lawyer to serve him for us and they refused service.  The judge was not very happy with this and made it clear to them that they should serve him before May 4th.  On May 3rd they served him.

As an aside, I have learned from an insider at the Company that there is discussion of firing John Clarke.  This would be problematic for them because 1. It would admit they did something wrong.  But, it might limit their liability if they were able to blame all the bad stuff on Clarke.  Our suspicion is that they are trying to fire Clarke and buy him off with a golden parachute to ensure his silence.  There is precedent for this since the prior CEO, Simon Village was fired when he threatened to blow the whistle on bribes and received a $3 million payment in exchange for silence.  Even if they pay Clarke millions, in exchange for silence, the courts can break that silence agreement and force him to testify under oath.  My bet is that Clarke knows stuff which is explosive. There are billions of dollars at stake here and people could go to jail.  So stay tuned on this one.

The second issue addressed at the conference is the issue of venue.  We have a strong case on the merits but that is only slightly relevant at this point.  Banro is taking the position that the Canadian court is the proper venue and the U.S. is not relevant.  They say the Canadian court is competent, has handled the issue, and that is that.

As you know, our view is that there is Nexus in the U.S.  The crime was committed in the U.S. 80% of the shareholders and capital are from the  US.  The Company lied to me to my face in the U.S. (John Clarke in a private meeting in Denver), and the Company used the cover of the US Securities laws and its New York Stock Exchange listing.  "Judge, This is a US based crime committed under US Securities Laws, they cannot wiggle out of that fact." "Judge do you want to send the signal to all foreign companies that they can come here and commit fraud and face NO CONSEQUENCES?"

We are making the public policy argument that foreign companies cannot come here, use our laws as cover, screw US citizens and then claim that their local courts provide the correct remedy. There is a lot of logic in our position.

The Company acknowledges that argument but says Canadian courts are just as good as US courts.

It is a subtle and smart defense because Judges believe in respecting one another. When you become a Judge you are bound to honor the rule of law and they are hesitant to criticize one another.  So, there is some bias for our judge to respect the Canadian judge. However, it will all come down to the Judge's discretion and the fact pattern.  There is case law on both sides of this one. In fact, there are several strong competing precedents.  We think on balance they favor us.

We believe the logic of our case is very strong and the fact pattern is strongly in our favor.  But, if our judge is lazy she should could just say Canadian law applies. It would help clear her docket. We would appeal but I am informed that our odds on appeal are not good because judges have a lot of discretion.

One thing they did that hurts them is that they got the Canadian court to extinguish our claim forever.  One of the tests our judge faces is the question of "can the litigant get relief in the foreign court."  Well, since we have be expunged forever in Canada the answer is clearly no.  So, by overplaying their hand and banning us forever on this matter in Canada they may have shot themselves in the foot.  

So, here is the timeline.  May 18th, 20 page briefs due from both sides on the venue issue.  June 18th responses to both briefs from both sides.  Then hearings, pleadings, more briefs, etc.  

So, the venue issue will not be decided before July at the earliest and my lawyer thinks it could take the balance of the Summer and Late into the Fall.

Frankly, I do not know how to handicap this one.  Logic says we should win, but my lawyer says he rates it at 50/50.   I think he is being conservative and really believes the odds are better than that but does not want me to be surprised if we lose.

Here is the good news.  IF we make it through this VENUE door the other side has a real problem.  The case is strong and we are going to rock their world.  Our lawyer is more worried about this venue step than anything else which follows.  It is just impossible to know how sympathetic the judge will be toward our complaint.  However, she was very cordial and acknowledged that we had pleaded correctly.  This complaint is very real.

So, we need to all hope an pray that this woman sees our argument clearly.  Here is where any of you could help.  We need articles and other materials which show how "in the tank" or "bought" the Canadian Courts are for Canadian corporations.  Our lawyer did not say this in conference and we have to be careful not to criticize.  But in our filings we want to reference some articles which talk about how bad the Canadian courts are at policing stock fraud. We will do our own search but if you have anything supporting that line of argument, send it.  Thank you.

There will probably not be any updates for at least another month, unless there are unusual developments.  These cases move slowly.  Keep your fingers crossed.  My bet, we are going to get these assholes.  They have a real problem.  Me.

Best,

Larry
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Carpe diem

26.05.18 09:39

11554 Postings, 2481 Tage VassagoKongo ist kein Ponyhof

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