UNited States : Banro provides update on construction preparation and exploration at its Twangiza gold project.Byline: shiv03 Banro Corporation ("Banro" or the "Company") (NYSE NYSE See: New York Stock Exchange AMEX AMEX See: American Stock Exchange - "BAA"; TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension - "BAA") is pleased to provide the following update on developments at its wholly-owned Twangiza gold project in the Democratic Republic of the Congo (the "DRC DRC Democratic Republic of Congo DRC Down (Stage) Right Center DRC Director(ate) of Reserve Components DRC Disability Rights Commission (United Kingdom) "). Construction of Phase I of the Twangiza Gold Project Banro reports progress in all aspects of planning and preparation for the construction of "Phase I" at the Twangiza project, including staffing and logistics, detailed plant design and layout, access road planning, power and fuel supply, raw water supply and tailings management. The preparation for shipping of the gold plant from Australia to site is well-advanced, with the refurbishment in Australia of plant components nearing completion. Design for the enhanced throughput of the plant from 1 mtpa to 1.3 mtpa has been completed; additional parts as required will be manufactured and shipped from South Africa. Resettlement Re`set´tle`ment n. 1. Act of settling again, or state of being settled again; as, the resettlement of lees s>. The resettlement of my discomposed soul. - Norris. work, which is being conducted in partnership with the community and provincial authorities, has begun with the construction of a temporary access road and fresh water supply to one of the host sites. The Company plans to begin mobilizing equipment at Twangiza by year-end in order to facilitate commencement of construction activities in February 2010, following the peak rainy season. The Company also reports progress with respect to arranging debt financing through Standard Chartered Bank Standard Chartered Bank (LSE: STAN, HKSE: 2888 ) is a British bank headquartered in London with operations in more than fifty countries. It operates a network of over 1,600 branches (including subsidiaries, associates and joint ventures) and employs almost 60,000 , which is the exclusive debt finance advisor for the Twangiza project. It is planned that this process will be concluded by early June 2010. Completion of the Twangiza "Phase I" project and the first pouring of gold is scheduled for December 22, 2011. Exploration Activities The Company began a diamond drilling program in October on the Twangiza West flanking structure, where rock sampling and auger drilling results indicate the potential for economic mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. occurring over a strike length of approximately 1 kilometre, immediately west of the Twangiza Main pit. The initial drilling program comprises 12 holes (1,485 metres) on six 80-metre spaced lines covering the most promising 400 metres of strike. Copyright : Euclid Infotech Pvt. Ltd. Provided by Syndigate.info an Albawaba.com company |
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