Each one in plain English, with the numbers worked through for a shareholder.
27 Aug 2009drilling result▲ Good
Further Shambesai infill result of 20m at 6.40g/t gold, plus 8m at 2.15g/t on the southern margin suggesting extensions. 24 of a planned 99 holes are done and two metallurgical holes are about to start. Continues the strong run of results.
24 Aug 2009security holder rights change● Neutral
Prospectus for a free one-for-two bonus option grant of about 59.7M options, exercisable at 20 cents by 30 September 2011, record date 2 September 2009. Shareholders need take no action. This is the option offer flagged in the June raising.
14 Aug 2009drilling result▲ GoodMajor
First Shambesai infill holes returned 21m at 8.75g/t and 31m at 4.26g/t gold, which the company says are significantly better than expected and likely to add to the 390,000-ounce resource. The first drill results due in August arrive, and they are strong.
31 July 2009quarterly activities report● Neutral
June 2009 quarterly restating the 875,000-ounce resource, the completed $6M raising and eight drill rigs now operating. Metallurgical samples are being selected for Shambesai testing. Cash is $6.5M. Largely repeats known facts.
28 July 2009capital raising announcement● Neutral
Administrative notice: 6,873,333 shortfall shares allotted at $0.10, bringing total rights-issue shares to 18.78M and shares on issue to 118.3M. Cash is $6.5M. No new substance beyond completing the raising.
24 July 2009capital raising announcement● Neutral
Administrative notice: first 11,910,001 rights shares allotted and holding statements sent, lifting shares on issue to 111.4M and cash to $6.4M. The remaining 7,923,333 shortfall shares are to follow shortly. No new substance.
21 July 2009capital raising announcement● Neutral
The one-for-three rights issue closed with 60% take-up (11.9M shares). Underwriters Patersons and Blackwood take 6.42M of the 7.92M shortfall shares and directors plan to place the remaining 1.5M, completing the roughly $6M raising at $0.10. Resolves the open rights outcome.
15 July 2009capital raising announcement▲ GoodMajor
The $4M placement was completed after shareholders approved it on 8 July 2009: 40M shares at $0.10, taking shares on issue to 99.5M. Cash is $5.3M. Six rigs are running or arriving, with first results expected in August 2009.
What it means for a shareholder
40.0m new shares at $0.100 to raise about $4.0m. 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 July 2009capital raising announcement● Neutral
Administrative notice confirming the rights issue offer document was despatched to shareholders. No new substance.
2 July 2009drilling spud▲ Good
Drilling restarted: two rigs at Tolubai (just under 1,000m) and three rigs mobilising to Shambesai for over 10,000m of infill and westward extension drilling. Goal is to lift the 875,000-ounce resource well beyond 1 million ounces.
22 June 2009capital raising announcement● Neutral
Offer document for the one-for-three rights issue at $0.10 to raise up to $1,983,333, open 2 to 16 July 2009. Blackwood and Patersons underwrite $500,000 each. This details the rights part of the 4 June raising; no new terms.
4 June 2009capital raising announcement▲ GoodMajor
Manas arranged a $6M raising at $0.10 per share: a $4.0M placement of 40.17M shares plus a one-for-three rights issue for about $2M. A free one-for-two $0.20 option is to follow. Funds go mainly to drilling to grow the 875,000-ounce resource.
19 May 2009investor presentation● Neutral
Presentation repeating the 875,000-ounce resource and the plan to drill toward a target of up to 2M ounces over 12-24 months. Cash is $2.2M. No new results are visible in the text provided.
13 May 2009resource reserve update▲ GoodMajor
Maiden Shambesai Inferred resource of 4.5Mt at 2.7g/t gold for 390,000 ounces, lifting Manas's total to 875,000 ounces (up 80%) with Obdilla's 485,000. Resolves the long-awaited estimate; 170,000 oz is near-surface oxide. Drilling starts by end of May.
12 May 2009joint venture update▲ GoodMajor
Partner Kentor Gold will proceed with Savoyardy pre-development work (about US$500,000) after a positive pre-feasibility study, targeting a late-2009 decision and 2010 start. Kentor also signed an option to acquire 100% of Savoyardy from Manas; price not in the text provided.
30 Apr 2009quarterly activities report● Neutral
March 2009 quarterly: all 96 Shambesai holes reported, resource statement 'due shortly', drilling to restart in the June quarter. Kentor's Savoyardy pre-feasibility study aims at small-scale production in 2010. Cash was $2.48M.
24 Apr 2009admin correction● Neutral
Administrative notice: 287,500 shares will be released from ASX escrow on 15 May 2009. No other substance.
20 Mar 2009drilling result▲ Good
New western Shambesai holes returned 21m at 3.62g/t and 14m at 3.16g/t gold; the western zone is over 200m wide and still open. Drill pads are ready 1km further west. The initial resource estimate is still pending, now described as first quarter 2009.
10 Mar 2009half year report● Neutral
Half-year to 31 December 2008 showed a loss of $430,640 and cash of about $2.95M. The resource statement for Shambesai is now expected in the first half of 2009. Kentor is earning 70% of Savoyardy by spending $6M.
30 Jan 2009quarterly activities report▲ Good
December 2008 quarterly: Shambesai drilling finished at over 11,000m, with a new deep western hit of 21m at 3.95g/t. Partner Kentor reported a maiden Savoyardy inferred resource of 43,000 ounces. Cash was about $2.95M.
15 Dec 2008drilling result▲ Good
Final Shambesai infill results include 20.2m at 4.75g/t gold; drilling for the season is complete. Initial resource estimate remains scheduled for early 2009, with drilling to resume west of the current limits after winter.
30 Oct 2008annual report● Neutral
2008 annual report covering 17 October 2007 to 30 June 2008. It restates the Perseus asset purchase for 25 million shares and 12.5 million options, and the Kyrgyz projects. No new results are visible in the text provided.
30 Oct 2008quarterly activities report● Neutral
September 2008 quarterly: 37 Shambesai holes drilled, two rigs still running, resource estimate still due in the March 2009 quarter. Cash was $3.8M; a one-for-two loyalty option offer is planned for early November.
21 Oct 2008drilling result▲ GoodMajor
First holes at the new Ulugtau prospect, about 40km from Shambesai, returned 10.8m at 13.2g/t gold. Manas calls it its third potentially significant discovery.
17 Sept 2008drilling result▲ Good
Further Shambesai drilling hit 11m at 29.7g/t gold from surface in the east, and 25m at 1.6g/t at depth in the west. Mineralisation now spans 1.2km, still open to the west and at depth.
27 Aug 2008regulatory community update▲ Good
Soil sampling confirmed gold anomalies at Aksu, 18km from Shambesai, including a 1.2km anomaly with values up to 168 ppb. These are early targets needing follow-up sampling before any drilling.
29 July 2008drilling result▲ Good
New Shambesai drill holes returned 35m at 4.85g/t gold and 34m at 4.09g/t gold, extending mineralisation to 1km of strike, still open to the west. A resource estimate is targeted for early 2009.
22 July 2008capital raising announcement▲ GoodMajor
Manas listed on ASX on 22 July 2008 after an oversubscribed $6 million IPO. It holds 100% of nine Kyrgyz gold projects (except the Savoyardy JV with Kentor), with an Obdilla resource of about 485,000 ounces. Shambesai drilling is underway.
21 July 2008asset acquisition disposition● NeutralMajor
Perseus Mining completed the spin-out of its Kyrgyz gold assets into Manas Resources, which raised $6 million. Perseus keeps a 42% interest in Manas, and Manas shares start trading on ASX on 22 July 2008.
