6 Sept 2012other● Neutral
Notice of an audio webcast with Managing Director Stephen Ross on the Shambesai approval. No new information.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
6 Sept 2012regulatory community update▲ GoodMajor
Kyrgyz authorities approve the Shambesai TEO study, the key step before a production licence, resolving the long-awaited open thread. Construction is targeted for the first half of 2013 and gold production for early 2014; debt financing options are now being considered.
6 Sept 2012listing compliance notice● Neutral
ASX lifts the trading suspension in Manas shares immediately, following the company's announcement. Procedural notice; the reason for the suspension is not stated in the text.
16 July 2012director officer appointment▼ BadMajor
Chairman Francis Harper, on the board since 2008, resigns, citing family illness and a reduced workload. The board has begun a search for a new chairman.
27 Apr 2012annual report● Neutral
Annual report for the six months to 31 December 2011. Chairman cites over $13M cash, $30M market cap, and a completed feasibility study at Shambesai; resource stays 1.25M oz. Largely restates previously released information.
16 Apr 2012admin correction● Neutral
Clarification adding the omitted Competent Person statement to the 12 April 2012 investor presentation, naming Philip Reese (reserves, feasibility) and Stephen Ross (resources, exploration). No new results; administrative.
12 Apr 2012investor presentation● Neutral
Roadshow presentation repeats the feasibility results (NPV US$148M, 53,000oz a year) and the 1.25M oz resource. It shows $12.2M cash, a $31M market cap and more than $30M still to be invested. A 4,000m winter drill program has started. No new results.
3 Apr 2012resource reserve update▲ GoodMajor
Definitive feasibility study confirms Shambesai: pre-tax NPV US$148M and US$208M net cash flow at US$1,500 gold. It has a Probable Reserve of 245koz, 53,000oz a year over 4.5 years, US$32.6M capital to first gold and a 10-month payback. Delivers on the long-awaited December-quarter study.
30 Mar 2012annual report● Neutral
Statutory accounts for the six months to 31 December 2011, following the year-end change. The review restates the 766koz Shambesai and 1.25M oz total resource. Financial statements are not shown in the excerpt.
19 Mar 2012drilling result▲ Good
Winter drilling at Shambesai returned 22m at 3.16g/t gold, including 8m at 8.45g/t, mostly outside the current resource and pit. The shear zone stays open. Drilling has now stopped for community consultation; feasibility is due end of March.
28 Feb 2012drilling progress report● Neutral
Feasibility study now adds 75koz of in-pit sulphide material and a smaller final pit, so final results slip to late March 2012. TEO has been resubmitted to the new Kyrgyz agency, awaiting committee approval before a mining licence. Winter drill results are due shortly.
25 Jan 2012joint venture update▲ Good
Shambesai feasibility study is complete and under independent review by Snowden (UK), with final report due end-February 2012. Yantai Design Institute (China) appointed for plant design. Findings so far are consistent with the November 2011 figures; Kyrgyz mining reform is under way.
15 Dec 2011other● Neutral
Financial year-end moves from 30 June to 31 December to match the Kyrgyz subsidiaries' local-law requirement. The next audited report covers the six months to 31 December 2011. Administrative.
14 Nov 2011resource reserve update▲ GoodMajor
Updated Shambesai pit study shows over US$190M cash flow (EBITDA at US$1,500 gold) over five years, averaging 40,000oz a year. Probable Reserve of 180koz oxide is booked, with cash costs of US$465/oz. Scoping study cash flows have almost doubled; feasibility still due December 2011.
14 Nov 2011investor presentation● Neutral
Presentation repeats the 40,000oz-a-year Shambesai plan and US$190M cash flow. Shows 228.6M shares, $15M cash and a $40M market value at 17.5c, with Perseus at 24%. No new results.
24 Oct 2011annual report● Neutral
Printed 2011 annual report with chair and managing director addresses. It repeats the 1.25M oz resource, 766koz Shambesai, TEO submission and possible 2012 production. Largely previously released.
30 Sept 2011capital raising announcement▲ GoodMajor
Underwriters BW Equities, Blackwood and Macquarie will take up unexercised 20c options, covering up to $10M, for an 8% fee. Perseus, the largest holder, will sub-underwrite to hold about 23.86%. Cash is to exceed $16M, funding feasibility and development.
29 Sept 2011annual report● Neutral
Full-year accounts to 30 June 2011 with the review of operations. It restates the 766koz Shambesai and 1.25M oz total resource, the feasibility due December quarter and the $5M exploration budget. Financial statements are not shown in the excerpt.
27 Sept 2011resource reserve update▲ GoodMajor
Shambesai resource rises about 20% from 645koz to 766koz, with oxide up 40% to 460koz. This lifts total resources to 1.25M oz, with the Obdilla resource. Feasibility still due December quarter; new drilling to target more oxide.
21 Sept 2011drilling result▲ Good
Final Shambesai holes include 54m at 2.9g/t gold from 233m in the deep western zone, which stays open. These last holes came after the program ended and will not be in the September resource update; they are follow-up targets.
12 Sept 2011regulatory community update▲ Good
Vat leach tests show over 85% gold recovery in under 36 hours, better than the scoping study assumptions. Feasibility remains due December quarter; TEO approval may slip past the October elections, which the company says would not affect overall schedule.
6 Sept 2011drilling result▲ GoodMajor
Final Shambesai round includes 21m at 9.71g/t gold, extending the bonanza shear zone 80m from the earlier 33.7m at 10.74g/t hole, outside the 645koz resource. Resource update due this month, feasibility in the December quarter; rigs now at Obdilla, Ulugtau, Tashbulak.
2 Sept 2011security holder rights change● Neutral
Standard notice reminding optionholders that listed options exercisable at 20c expire at 5pm Perth time on 30 September 2011, with one share issued per option exercised. Form and instructions only; no new company news.
2 Sept 2011security holder rights change● Neutral
Duplicate of the option expiry notice: 20c listed options lapse at 5pm Perth time on 30 September 2011 unless exercised. Administrative form; no new information.
31 Aug 2011other● Neutral
Foyil Securities, an Eastern European broker, has begun research coverage of Manas. Its report is on the company website. No operational or financial news.
23 Aug 2011drilling progress report● Neutral
12,535m Shambesai drilling is complete, with about 7,500m of results still to come by end September ahead of a resource update. Pum's 16 holes found only low-grade away from the discovery hole. Drilling started at Obdilla and Ulugtau; TEO under final ministerial review.
13 July 2011drilling result▲ GoodMajor
Bonanza hole of 33.7m at 10.74g/t gold, including 7.8m at 28.64g/t, from sulphide in a shear zone outside the 645koz resource. Drilling extended to 12,300m at Shambesai; feasibility including a resource upgrade due late 2011. Company says underground potential is being evaluated.
21 June 2011regulatory community update▲ GoodMajor
Technical and economic study (TEO) submitted to the Kyrgyz Ministry of Natural Resources. Once approved, the company can apply for a mining licence at Shambesai. A new resource model is due in the third quarter 2011.
24 May 2011drilling result▲ GoodMajor
First 2011 results: 25m at 3.43g/t gold and 17.1m at 2.92g/t outside the resource, plus a Pum discovery hole of 8.9m at 2.89g/t, 3km away. Two non-core licences (Maly Naryn, Akbura) face revocation and are being appealed. Feasibility due third quarter.
28 Mar 2011investor presentation● Neutral
March 2011 presentation repeats the 1.13M oz resource, scoping study and feasibility under way. Shows 177.4M shares on issue, cash $11.3M and market cap $44.3M at 25c. No new results.