Banro narrows Q1 net loss as revenue rises 19%

Canadian gold producer Banro has reported a smaller first-quarter net loss as financing expenses and fair value losses have offset higher output, sales and realised prices. The result was despite a 19% increase in operating revenues to $55-million, and was boosted by 14% more ounces sold at 47 673 oz in the three-month period ended March, as the Namoya mine, in the Democratic Republic of Congo (DRC), ramped-up output, as well as a higher realised gold price.