In the proposed reconstruction document issued by moto it mentions banro corporation and says it is listed on the TSX and has operations focussed on africa....namely the congo....
I went on the Banro website and found that they have 4 areas in the congo and have an Inferred Resource of 6.0 million ounces....and 30m shares on issue (fully diluted)....and their share price is currently $5.02...
Very remarkable similarity to moto - moto have 4.3m ounces at the moment with an upgrade due out soon (between 6-8m ounces i suspect)....moto will have around 33m shares on issue after the listing....they should go to $5 on the TSX which would equate to $1 before the listing...at 41c currently i would have thought that they are a bargain !!!!
