Overwhelming amount of negatives from the 20F:
Name a risk and they have it.
Political, currency, concentration, conflict, legislative, tax and etc.
Conflict area: (compare map links)
http://www.loncor.com/i/maps/3.jpg
https://ethuin.files.wordpress.com/2014/11/ga-mapping-iv-3.jpg
"A holder of shares or warrants may suffer adverse U.S. federal income tax consequences if the Company is determined to be a passive foreign investment company or "PFIC"
The Company believes it should not be classified as a "passive foreign investment company" ("PFIC") for its tax year ended December 31, 2014. However, the Company believes that it was classified as a PFIC for its tax year ended December 31, 2011 and in prior tax years. Whether the Company will be a PFIC for the current or future tax year will depend on the Company's assets and income over the course of each such tax year and, as a result, cannot be predicted with certainty as of the date of this Form 20-F. Accordingly, there can be no assurance that the Internal Revenue Service will not challenge the determination made by the Company concerning its PFIC status for any tax year. U.S. federal income tax laws contain rules which result in materially adverse tax consequences to U.S. taxpayers that own shares of a corporation which has been classified as a PFIC during any tax year of such holder's holding period. A U.S. taxpayer who holds stock in a foreign corporation during any year in which such corporation qualifies as a PFIC may mitigate such negative tax consequences by making certain U.S. federal income tax elections, which are subject to numerous restrictions and limitations. Holders of the Company's shares and warrants are urged to consult their own tax advisors regarding the acquisition, ownership, and disposition of the Company's shares and warrants."
"Certain directors and officers may be in a position of conflict of interest with respect to the Company due to their relationship with other resource companies.
A number of directors and officers of the Company also serve as directors and/or officers of other companies involved in the mineral resource industry. As a result, conflicts may arise between the obligations of these individuals to the Company and to such other companies."
" Banro has acquired its principal mineral properties through a cession from Société Zaïroise Minière et Industrielle du Kivu S.A.R.L. ("SOMINKI"). As such, Banro will be liable to the DRC State for any environmental damage caused by SOMINKI as previous owner and operator of such properties."
