Each one in plain English, with the numbers worked through for a shareholder.
9 Dec 2013capital raising announcement● NeutralMajor
Rights issue closed with shareholders taking up only 5.81M of about 137.8M new shares. The remaining 131.96M shortfall shares fall to Patersons and Halcyon. Directors and Lion are taking more shares through underwriting. Funds target Shambesai permitting and development.
20 Nov 2013capital raising announcement● Neutral
Company confirms the rights issue prospectus has been sent to eligible shareholders. Administrative notice only.
7 Nov 2013capital raising announcement● Neutral
Cover letter to shareholders on the rights issue: 4c per share, about $5.51M, of which about $430,651 goes on offer costs. Patersons underwrites up to $2.5M; Halcyon to place up to about $3M of any shortfall. No new substance.
7 Nov 2013capital raising announcement● Neutral
Prospectus lodged for the one-for-two rights issue at 4c, raising up to about $5.51M, with a free 8c option (expiring 31 March 2015) per new share. Patersons partially underwrites; closes 4 December 2013. Formalises the 31 October proposal.
31 Oct 2013capital raising announcement● NeutralMajor
Manas proposes a partially underwritten one-for-two rights issue at 4c to raise about $5.5M, with a free 8c option per share expiring March 2015. The issue price is well below the 8c share price in May. Funds go to Shambesai development.
31 Oct 2013listing compliance notice● Neutral
ASX lifts the trading suspension in Manas shares immediately after the capital raising announcement. Procedural notice.
28 Oct 2013investor presentation● Neutral
October 2013 investor presentation with disclaimers, including risks specific to operating in the Kyrgyz Republic. Presumably supports the rights issue; the visible text carries no new figures.
21 Oct 2013regulatory community update▼ Bad
Activists disturbed site works at Shambesai on 18 October, blocking access and causing minor damage to the community office. The company says government support is strong and the schedule continues. A setback for community relations.
14 Oct 2013drilling result● Neutral
Trenches at Ulugtau on the Djilginsai licence returned 6m at 10.35g/t gold, including 3m at 18.7g/t, and 7m at 5.27g/t. Follow-up drilling found nothing significant; mapping is needed before further drilling.
16 Sept 2013regulatory community update▲ GoodMajor
Shambesai wins its key Land Permit, rezoning the site to industrial use and allowing early site works. Financing talks for the US$41.3M capital are advancing with banks in Europe and Asia; the feasibility schedule is being updated.
10 Sept 2013half year report● Neutral
Half-year to 30 June 2013 shows a loss of $2.73M, up from $1.01M in the prior half. Restates the feasibility study and notes a community agreement at Maidan. Financing talks continue with several parties; no deal reported.
31 July 2013admin correction● Neutral
Amended quarterly cash flow report corrects shares on issue at 30 June 2013 to 275,542,160 from a wrongly stated 228,607,160. Cash at quarter end was $6.03M.
25 June 2013admin correction● Neutral
Manas appoints Security Transfer Registrars as share registry from 1 July 2013, replacing Computershare. Administrative notice only.
29 May 2013investor presentation● Neutral
Notice of an audio webcast with Managing Director Stephen Ross on the Shambesai feasibility study. No new information.
27 May 2013investor presentation● Neutral
AGM presentation restates the Shambesai feasibility study (US$41.3M capital to first gold, US$105M NPV, 11-month payback) and resources. Shows 261M shares, 8.0c price, $20.8M market value. Drilling to restart in June. Mostly previously released information.
27 May 2013other● NeutralMajor
Bankable feasibility study at US$1,400 gold: 227koz recovered over 4.5 years, after-tax NPV US$105M, IRR 67%, cash costs US$387/oz. Capital to first gold rises to US$41M from US$32.6M. Plant construction is now targeted for early 2014, later than the earlier first-half 2013.
23 Apr 2013annual report● Neutral
Annual report to shareholders for 2012, with the new chairman's first address. It restates the feasibility study, TEO approval, mining licence and the target of gold production in 2014. Largely previously released information.
5 Apr 2013other● Neutral
Notice of an audio webcast with Managing Director Stephen Ross on the $5.1M share placement. No new information.
2 Apr 2013capital raising announcement● NeutralMajor
Manas finalises a $5.1M placement of 51M shares at 10c, managed by Blackwood Capital: $3.4M first, $1.7M after a shareholder meeting. Funds go to the Shambesai environmental study, camp, roads and drilling. Cash is to exceed $9M; feasibility study due June quarter.
What it means for a shareholder
51.0m new shares at $0.100 to raise about $5.1m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
Create a free account to see this worked out for your own holding.
2 Apr 2013listing compliance notice● Neutral
ASX lifts the trading suspension in Manas shares immediately, following the capital raising announcement. Procedural notice; it implies the suspension was a pause pending that announcement (inference).
28 Mar 2013annual report● Neutral
Annual report for the year to 31 December 2012. The review of operations restates the April 2012 feasibility figures, the licence and the 2014 production target, and notes the March 2013 revised resource after year-end. Largely previously released information.
25 Mar 2013resource reserve update▲ GoodMajor
New Shambesai resource is 8.1Mt at 2.69g/t for 697,000oz, down from 766,000oz, with over 95% now Measured and Indicated. Reserve rises to 2.5Mt at 3.4g/t for 277,000oz from 245,000oz. Optimum Capital is engaged as debt intermediary.
24 Jan 2013material agreement termination● NeutralMajor
Central Asia Resources confirms the Altyntas joint venture with Manas ended by mutual agreement, and says it will in due course reimburse Manas's spending to date. This closes the October 2012 Kazakhstan option, which had allowed Manas to earn up to 70%.
2 Jan 2013director officer appointment▲ GoodMajor
Robert Scott, a director of Sandfire and CGA Mining, joins as independent chairman, filling the vacancy left by Francis Harper's July 2012 exit. Mark Connelly, a mining executive, also joins as a non-executive director.
21 Dec 2012regulatory community update▲ GoodMajor
Kyrgyz government issues the Mining and Development Licence for Shambesai, securing legal tenure for design and construction. This follows the TEO approval and resolves the licence thread. Debt financing talks are being accelerated, with gold production still targeted for 2014.
23 Oct 2012investor presentation● Neutral
Presentation repeats the Shambesai plan, the 1.25M oz resource and the Altyntas JV. Cash is shown at $8.5M, with a $40M market value on 228M shares and over $30M investment needed. No new results.
5 Oct 2012farm in farm out agreement▲ GoodMajor
Manas can earn up to 70% of Central Asia Resources' Altyntas gold project in Kazakhstan by spending A$2M. A$0.5M is committed now for 4,000m of drilling, with toll treatment at a nearby plant as the possible route to production. A move beyond Kyrgyzstan.
5 Oct 2012farm in farm out agreement● Neutral
Counterparty Central Asia Resources announces the same Altyntas deal: Manas can earn up to 70% by spending A$2M, with A$0.5M committed to 4,000m of drilling. Duplicates the Manas announcement.
12 Sept 2012admin correction● Neutral
Re-lodgement of the 30 June 2012 half-year report under a corrected header. The content shown is identical, so there is no new substance.
12 Sept 2012half year report● Neutral
Interim accounts for the six months to 30 June 2012 show a loss of $1.01M, against $0.84M in the prior six months. The review restates the feasibility results and the TEO approval after period end.
