Description

Twangiza is the most advanced of Banro's four projects, with a growing deposit that currently comprises Measured and Indicated Resources of 5.60 million ounces of gold and Inferred Resources of 400,000 ounces. The property is located 45 kilometres south-southwest of Bukavu in South Kivu Province and consists of six Exploitation Permits covering 1,164 square kilometres.

In August 2009, Banro announced its intention to begin construction of "Phase One" of its Twangiza project, and to that end acquired a gold plant capable of processing 1.3 million tonnes of ore per year. Reconstruction of roads and bridges and infrastructure development near the mine site are currently underway. It is expected that the gold plant will arrive on site in August 2010 and that the Twangiza mine will enter production in late 2011. The Company plans to expand annual production at the Twangiza mine in future years from 100,000+ oz Au to 300,000+ oz Au.

http://www.banro.com/s/Twangiza.asp?ReportID=307249