Each one in plain English, with the numbers worked through for a shareholder.
14 Mar 2011half year report● Neutral
Half-year to 31 December 2010 shows a loss of $1,219,669 (prior year $824,397). Confirms the second placement tranche ($8.82M) completed in February 2011, completing the $11.5M raising. Otherwise repeats scoping study and 1.13M oz resource.
10 Mar 2011drilling scheduled▲ Good
Eight rigs (six diamond, two portable) start up to 20,000m of drilling in 2011, mostly at Shambesai, to lift the 1.13M oz resource. Exploration budget is up to $5M against cash above $11.3M. Feasibility and permitting said to be on track; production possible in 2012.
29 Dec 2010other● Neutral
Securities trading policy document setting rules on insider trading and closed periods for directors and staff. Administrative; no operational or financial news.
10 Dec 2010capital raising announcement▲ GoodMajor
Raises $11.5M via 57.5M shares at 20c, above the 19c close, to fund Shambesai feasibility, development and exploration. Asian Lion and Lion Selection join as cornerstones; Macquarie and Perseus take part. Tranche 1 ($2.68M) settles soon; $8.82M tranche needs shareholder approval. Resolves the thin-cash concern.
What it means for a shareholder
57.5m new shares at $0.200 to raise about $11.5m. 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.
23 Nov 2010investor presentation● Neutral
November 2010 presentation positions Manas as a developer moving to a low-cost leach project, repeating the 1.13M oz resource and scoping results. Shows cash of $1.3M and a $30M market cap at 26c. No new results.
16 Nov 2010resource reserve update▲ GoodMajor
Scoping study for Shambesai oxide: 180,000oz over six years at US$250/oz cash cost, initial capex US$16.3M, pre-tax NPV US$59M at US$1,000 gold. Full feasibility study and permitting started, Perseus to give technical support. Resolves the scoping study thread; a scoping-level estimate, not a reserve.
27 Oct 2010annual report● Neutral
Printed 2010 annual report repeats the year's highlights: 645,000oz Shambesai upgrade, 1.13M oz total, and a development decision that the chairman says may come within 12 months. Chairman notes just three of 54 prospects drilled. No new information.
19 Oct 2010drilling result▲ GoodMajor
Further Shambesai results include 41.5m at 2.06g/t and 23m at 2.40g/t gold in oxide outside the current resource, extending the zone about 50m south. Scoping study is expanded towards pre-feasibility to speed mining permit applications; results due November. Kyrgyz elections passed without incident.
30 Sept 2010annual report● Neutral
Annual report to 30 June 2010 restates the year: $6M raised July 2009, resource upgraded 65% to 645,000oz, 1.13M oz total, 95% oxide recoveries. Scoping study completion targeted for late 2010. No new results in the extract.
17 Aug 2010drilling result▲ GoodMajor
First 2010 Shambesai results include 6m at 11.73g/t gold and 28m at 1.24g/t, all outside the 645,000-ounce resource. Company says this points to further extensions; zones stay open. Scoping study results expected in the September quarter.
20 July 2010investor presentation● Neutral
Melbourne Mining Club presentation repeating the 1.13M-ounce resource and its growth. States cash of $2.5M in July 2010 and market cap of $10.0M at 8c. Nothing new on results.
25 June 2010security holder rights change● Neutral
Administrative notice: 27,187,501 shares and 16,700,000 options come out of ASX escrow on 22 July 2010. These shares become freely tradeable; no other substance.
21 June 2010admin correction● Neutral
Clarifies that the 255,000-ounce high-grade oxide resource is 195,500 ounces Indicated and 59,500 ounces Inferred. The 330,000-ounce oxide total is 230,000 Indicated and 100,000 Inferred. No change to the resource itself.
18 June 2010drilling spud● Neutral
Drilling has started at Shambesai with two rigs on a roughly 4,000m first phase testing oxide and western extensions. The company says civil unrest in southern Kyrgyzstan did not disrupt its projects west of Osh. Cash is $2.9M.
1 June 2010investor presentation● Neutral
Presentation repeating the 1.13M-ounce resource, the 645,000-ounce Shambesai upgrade, 95%+ oxide recoveries and the 4,400 km2 land holding. Shows cash of $3.2M. No new results.
24 May 2010resource reserve update▲ GoodMajor
Shambesai resource upgraded 65% to 645,000 ounces (7.29Mt at 2.8g/t), 58% Indicated, from the 390,000-ounce maiden estimate. Total resource is now 1.13M ounces. Includes 330,000 ounces of oxide; mining studies accelerated and drilling due June 2010. Resolves the planned update.
19 Apr 2010drilling result▲ Good
Final Shambesai West results: 18m at 1.87g/t gold (including 7m at 4.04g/t) about 100m west of the resource, and 9.4m at 2.49g/t extending the southern limit. This completes reporting of the 2009 program; resource update due June quarter.
29 Mar 2010drilling result▲ Good
Final Shambesai infill results include 6.9m at 11.4g/t gold at depth beneath the 390,000-ounce resource, suggesting a possible new deeper zone. Zones remain open. Final western results and the resource update (June quarter) are still to come.
18 Mar 2010other▲ GoodMajor
First metallurgical tests on Shambesai oxide samples recovered over 95% of gold using standard carbon-in-leach processing. Sulphide ore needs pre-treatment. A scoping study has begun and the resource upgrade is now due in the June 2010 quarter.
12 Mar 2010half year report● Neutral
Half-year to 31 December 2009 shows a loss of $824,397, versus $430,640 a year earlier. The 15,000m Shambesai drilling is complete and a resource update is expected in the first half of 2010. It also states Kentor holds an option to buy 100% of Savoyardy for US$1.25M plus a royalty.
11 Feb 2010drilling result▲ Good
Metallurgical holes returned 36m at 6.32g/t and 8.7m at 16.8g/t gold, and oxide infill holes show oxide mineralisation is continuous over about 400m. This could expand the 170,000-ounce oxide resource. Final assays and a resource update are expected in 2010.
8 Dec 2009drilling result▲ Good
First Shambesai West results: 21m at 1.68g/t gold 100m west of the resource and 7.5m at 2.27g/t gold 1.1km west. This suggests the mineralised zone could extend beyond one kilometre west, though the company says geological controls are still being established.
27 Nov 2009investor presentation● Neutral
AGM presentation repeating the 875,000-ounce resource, 4,400 km2 land holding and the target of up to 2M ounces. Shows cash of $4.2M and 119.38M shares on issue. No new results in the text provided.
18 Nov 2009drilling result▲ Good
Near-surface Shambesai infill holes returned 21m at 12.6g/t and 8.5m at 15.4g/t gold, with channel sampling of 26m at 6.79g/t. This could add to the 170,000-ounce oxide resource. 89 holes are drilled, 38 reported; final results are due in early 2010.
23 Oct 2009annual report● Neutral
2009 annual report for the year to 30 June 2009. It recaps the 875,000-ounce resource (up 86% per the chairman), the $6M IPO and $6M raising, and says licences now cover 4,400 km2 in nine projects. Financial statements are not visible in the text provided.
6 Oct 2009drilling result▲ Good
Shambesai drilling found 21.8m at 4.92g/t gold in the northern zone outside the 390,000-ounce resource, plus 23m at 4.09g/t from infill. The northern zone is confirmed over 85m of strike and could widen mineralisation beyond 300m. 59 of 99 planned holes are drilled.
1 Oct 2009annual report● Neutral
2009 annual report for the year to 30 June 2009, recapping the 390,000-ounce Shambesai resource, 875,000-ounce total, the July 2008 $6M IPO and the completed $6M raising. The financial statements are not visible in the text provided.
24 Sept 2009investor presentation● Neutral
Presentation repeating the 875,000-ounce resource, the target of up to 2M ounces within 24 months and planned drilling programs. Shows Perseus at 27.9% and cash of $6.0M. No new results are visible in the text provided.
9 Sept 2009drilling result▲ GoodMajor
Shambesai drilling found 35m at 2.24g/t gold outside the current resource on the northern side, plus 9m at 9.34g/t in the central zone. The company says this could widen the mineralised zone to over 300m and add to the 390,000-ounce resource.
8 Sept 2009security holder rights change● Neutral
The 59.69M free bonus options (20 cents, expiring 30 September 2011) were issued on 8 September 2009, with shares on issue at 119.38M. Completes the option offer announced in the June raising. Perseus remains the top holder.
