Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
TORONTO, ONTARIO–(Marketwired – June 28, 2013) – Banro Corporation (“Banro” or the “Company”) (TSX:BAA)(NYSE MKT:BAA)(NYSE Amex:BAA) announces that the seven nominees listed in the Company’s management information circular for the annual and special meeting of shareholders of the Company (the “Meeting”) held on Friday, June 28, 2013 were elected at the Meeting as directors of Banro. The vote was conducted by a show of hands. The detailed results of the votes received by proxy are set out below:
| Name | Votes For | % Votes For | Votes Withheld | % Votes Withheld | ||||
| John A. Clarke | 118,699,213 | 68.96% | 53,426,424 | 31.04% | ||||
| Maurice J. Colson | 159,547,539 | 92.69% | 12,578,098 | 7.31% | ||||
| Peter N. Cowley | 100,099,359 | 58.16% | 72,026,278 | 41.85% | ||||
| Peter V. Gundy | 171,921,274 | 99.88% | 204,363 | 0.12% | ||||
| Arnold T. Kondrat | 69,354,026 | 40.29% | 102,771,311 | 59.71% | ||||
| Richard J. Lachcik | 67,531,959 | 39.23% | 104,593,678 | 60.77% | ||||
| Bernard R. van Rooyen | 97,086,410 | 56.40% | 75,039,227 | 43.60% |
Voting results on all matters voted on at the Meeting will be filed on SEDAR at www.sedar.com.
Banro Corporation is a Canadian gold mining company focused on production from the Twangiza oxide mine and development of three additional major, wholly-owned gold projects, each with mining licenses, along the 210 kilometre long Twangiza-Namoya gold belt in the South Kivu and Maniema provinces of the Democratic Republic of the Congo. Led by a proven management team with extensive gold and African experience, Banro’s plans include the construction of its second gold mine at Namoya, at the south end of this gold belt, as well as the development of two other projects, Lugushwa and Kamituga, in the central portion of the belt. The initial focus of the Company is on oxides, which have a low capital intensity to develop but also attract a lower technical and financial risk to the Company as the Company develops this prospective gold belt. All business activities are followed in a socially and environmentally responsible manner.
