On Friday, Banro Corporation (USA) (NYSEMKT:BAA)’s shares inclined 3.32% to $0.370.
Banro Corporation (USA) (BAA) provides an update of its Mineral Resource and Mineral Reserve estimates at its wholly-owned projects on the Twangiza-Namoya gold belt in the Democratic Republic of the Congo (“DRC”). The annual review of Mineral Resources and Mineral Reserves at the Company’s four core projects, Twangiza, Namoya, Lugushwa and Kamituga, has resulted in a substantial enhance in Mineral Reserves with the conversion of transition and fresh Mineral Resources into Mineral Reserves at Twangiza.
Highlights
- The Twangiza Proven and Probable Reserves raised 59% to 1.64 million ounces (“Moz”) of gold (22.38Mt @ 2.28g/t Au) with the inclusion of non-oxide materials in the reserve pit shell which have been proven economically treatable with the existing plant. This expands the Twangiza mine life utilizing the existing plant to 14 years.
- At Namoya, the Proven and Probable Mineral Reserves have reduced 5% to 1.27 Moz (20.53Mt @ 1.92g/t Au), primarily due to mining depletion.
- Banro’s overall Mineral Reserves have grown by 23% to 2.91 Moz (42.91Mt @ 2.11g/t Au) at US$1,200/oz gold price.
During 2014, the Company scaled down its exploration activities at its Twangiza, Namoya, Lugushwa and Kamituga projects and focused its geological expertise on supporting the production growth at Twangiza, development at the Namoya Mine and identification of near mine high grade targets.
In order to consolidate Banro’s position on the various exploration sites, some limited exploration activities are planned for 2015 using small teams focused on generating new oxide targets in Lugushwa and Kamituga. At Namoya, exploration drilling activities will be focused on near mine resource upgrade and resource generation activities. The primary objective is to upgrade inferred resources within the Namoya Summit-Filon B reserve pit into a higher confidence resource for conversion into mineral reserves. Another objective is to define additional near mine oxide resources within 5 kilometers of the Run-Of-Mine pad. At Twangiza, delineation drilling will be focused on near mine oxide resources generation on the Twangiza East and West mineralization.
Banro Corporation, together with its auxiliaries, engages in the exploration, development, and production of mineral properties. It primarily explores for gold. The company holds a 100% interest in 4 gold properties, counting Twangiza, Namoya, Lugushwa, and Kamituga comprising 13 exploitation permits that cover an area of about 2,612 square kilometers in the South Kivu and Maniema provinces of the Democratic Republic of the Congo.
Prudential Financial Inc (NYSE:PRU)’s shares dropped -0.77% to $89.24.
Prudential Financial Inc (PRU) declared that Sandra Pianalto has been elected to the company’s Board of Directors as an independent director, effective July 1, 2015.
Pianalto is the former president and CEO of the Federal Reserve Bank of Cleveland, a position she held from February 2003 until May 2014.
Pianalto’s tenure at the Bank spanned more than 30 years. She joined the Bank in 1983 as an economist in the Research Department. She was designated assistant vice president of public affairs in 1984, vice president and secretary to the board of directors in 1988, and first vice president and chief operating officer in 1993. The Federal Reserve Bank of Cleveland is one of twelve regional Reserve Banks that together with the Board of Governors in Washington, D.C., comprise the Federal Reserve System, the central bank of the United States. The Cleveland Reserve Bank, which comprises branch offices in Cincinnati and Pittsburgh, serves the Fourth Federal Reserve District (Ohio, western Pennsylvania, the northern panhandle of West Virginia, and eastern Kentucky).
In July 2014, Pianalto became an Executive-in-Residence in the College of Business at the University of Akron, where she provides instruction on the topics of monetary policy, banking and leadership.
Prudential Financial, Inc. provides insurance, investment administration, and other financial products and services to individual and institutional customers in the United States and internationally. The company principally offers life insurance, annuities, retirement-related services, mutual funds, and investment administration products.
At the end of Friday’s trade, FedEx Corporation (NYSE:FDX)‘s shares dipped -0.72% to $183.65.
Twelve fleet maintenance technicians earned spots to represent FedEx Freight, a subsidiary of FedEx Corp. (FDX), at the industry-wide SuperTech competition. SuperTech is considered the premier skills competition for professional commercial vehicle technicians.
Eric Vos, a technician in Boise, Idaho, earned top honors in the Top Wrench competition – his fourth first-place title. Additional top finishers comprise:
- Second place: Brian Blevins – Harrison, Ark.
- Third place: Kevin Roumpapas – Rochester, N.Y.
- Fourth place: Andrew Dilmuth – Jacksonville, Fla.
- Fifth place: Steve Willis – Denver, Colo.
- Sixth place: Larry Coatney – Harrison, Ark.
- Seventh place: Douglas Nickles – Rock Island, Ill.
- Eighth place: Mitchell Buelow – Fremont, Ind.
- Ninth place: Matthew Sloan – Jacksonville, Fla.
- 10th place: Mark Galliand – Baton Rouge, La.
- 11th place: Josh Nordick – Minneapolis, Minn.
During Top Wrench, the technicians faced multiple rounds of competition, counting written exams and hands-on skill challenges that tested their knowledge of engines, brakes, preventative maintenance, shop safety and more.
FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. The company’s FedEx Express segment provides various shipping services for the delivery of packages and freight; international trade services specializing in customs brokerage, and ocean and air freight forwarding services; international trade advisory services, such as assistance with the customs-trade partnership against terrorism program; and customs clearance services, in addition to global trade data, an information tool that allows customers to track and manage imports.
Diamond Offshore Drilling Inc (NYSE:DO), ended its Friday’s trading session with -1.86% loss, and closed at $28.47.
Diamond Offshore Drilling Inc (DO) declared that it will issue its future fleet status reports each calendar quarter concurrent with the release of its quarterly earnings. The Company has historically issued its fleet status reports on a monthly basis. The change from monthly to quarterly reporting is intended to better protect sensitive customer and contract information in light of competitive dynamics in the offshore drilling industry.
Diamond Offshore Drilling, Inc. provides contract drilling services to the energy industry worldwide. The company provides services in floater market, such as ultra-deepwater, deepwater, and mid-water; and non-floater or jack-up market. It operates a fleet of 38 offshore drilling rigs, which comprise 27 semisubmersibles, counting 1 under construction; 6 jack-ups; and 5 dynamically positioned drillships, counting 1 under construction. Diamond Offshore
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