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Banro's Twangiza Mine sits at an elevation of approximately 2,350 metres above sea level in a mountainous area, 80 km by road, 40 km by helicopter, from the town of Bukavu, Democratic Republic of the Congo. (Philip Mostert)
Banro's Twangiza Mine sits at an elevation of approximately 2,350 metres above sea level in a mountainous area, 80 km by road, 40 km by helicopter, from the town of Bukavu, Democratic Republic of the Congo. (Philip Mostert)

WHO IS BUYING AND SELLING

Multiple insiders buy at Banro Add to ...

In November, Democratic Republic of the Congo gold miner Banro stock had a double dose of bad news. On Nov. 14, Banro reported that its Twangiza mine experienced “lower than anticipated gold production to date”. A short time later, investors learned of a rebel insurgence in the northeastern part of the country. Insiders had been selling earlier this fall. However, since Nov. 22, three insiders have spent just under $1-million buying 320,000 shares in the public market. The biggest buyer was CEO Simon Village who bought 200,000 shares.

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Ted Dixon is CEO of INK Research which provides insider news and knowledge to investors. For more background on insider reporting in Canada, visit the FAQ section at www.inkresearch.com. Securities referenced in this profile may have already appeared in recent reports distributed to INK subscribers. INK staff may also hold a position in profiled securities.

Chart reflects public-market transactions of common shares or unit trusts by company officers and directors.

Follow on Twitter: @TedDixon

 
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BAA-T Banro Corp. 0.36 0.0000
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