BANRO Corp (AMEX:BAA)
CAPS Rating:
The Company is a Canadian-based gold exploration company focused on the exploration and development of gold projects.
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The Company is a Canadian-based gold exploration company focused on the exploration and development of gold projects.
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Banro will surely succeed with their current business model. The big "IF" in this investment is whether or not the Congo will be stable enough for Banro to proceed with their operations; I think that it will. With the proceeds of the Twangiza mine, BAA plans to develop a plethora of other properties. This will provide a strong future stream of precious metals and revenue. Their mine is open and operating, and the money is flowing in right now. With a cost of $500/oz, and the production of 120K ounces per year, BAA stands to make roughly $145million in profit for the year. With a market cap of $700million (SP of $3.50), BAA will have a P/E of less than 5! That is the lowest P/E of any gold miner that I have seen, let alone most stocks I have ever seen! BAA will succeed in due time. Just give them at least a year from now.