Each one in plain English, with the numbers worked through for a shareholder.
29 May 2018material agreement▲ Good
Manas bought a 12-month option, for US$5,000, over the Bouaké Sud permit application south of Bouaké Nord, together about 800km2. Exercise after permit grant would cost 20M options at A$0.006. Part of the area is forest reserve restricting exploration.
29 May 2018investor presentation● Neutral
AGM presentation on the Côte d'Ivoire portfolio, restating a project-generation strategy and previously announced projects. It cites zero entry cost for the 70% Mbengué earn-in after US$2M of exploration spend. No new results or transactions.
25 May 2018material agreement termination▼ BadMajor
Manas withdrew from the Victoria Gold Project acquisition in Tanzania, citing no progress on licence transfers and operating challenges. It may recover the US$800,000 prepayment if the vendors resell within 12 months, and says amounts were already fully impaired. Resolves the open Victoria thread.
18 May 2018farm in farm out agreement▲ GoodMajor
Manas signed an earn-in to acquire up to 70% of Perseus Mining's Mbengué gold project in Côte d'Ivoire, a granted permit of about 398km2 near the Tongon mine. Earlier Perseus drilling hit 69m at 7.8g/t gold. Cash is about A$9.5M.
27 Apr 2018annual report● Neutral
Cover notice that the annual report sent to shareholders is identical to the accounts lodged on 29 March 2018. No new information.
29 Mar 2018admin correction● Neutral
Appendix 4G governance checklist for 2017, pointing to pages 53-64 of the annual report. Administrative filing with no new information.
29 Mar 2018annual report● Neutral
2017 annual report restating the year's focus on Victoria and the post-year-end Côte d'Ivoire earn-ins. Board and CEO are unchanged. No new developments are visible in the text provided.
7 Feb 2018investor presentation● Neutral
Conference presentation on the Côte d'Ivoire projects, repeating known facts. It shows 2,643M shares on issue, a $0.006 share price, about $15.9M market value and Resolute Mining as the top holder at 19.8%.
23 Jan 2018farm in farm out agreement▲ GoodMajor
Manas signed earn-in agreements for up to 85% of Gonsan (about 1,000km2, around the Ity mine) and up to 80% of Bouaké Nord (about 300km2) in Côte d'Ivoire. All four permits are still applications; cash is about A$9.7M. New direction beyond Victoria.
13 Nov 2017price query● Neutral
Responding to an ASX query on the share price rising from $0.004 to $0.006, Manas said it knew of no undisclosed information explaining the trading and confirmed it was complying with the listing rules.
13 Sept 2017half year report● Neutral
Half-year to 30 June 2017 shows a loss of $1,196,930, versus $19.48M a year earlier when Kyrgyz assets were written down by $18.54M. Victoria deal still awaits completion, and new Tanzanian laws are likely to slow it.
26 May 2017director officer appointment● Neutral
Justin Lewis retired as a director at the 26 May 2017 AGM. Company secretary Susmit Shah, with the company since inception, becomes a non-executive director. The board may add further directors as Victoria completes.
26 Apr 2017admin correction● Neutral
Appendix 4G governance checklist, lodged with the annual report, pointing to pages 56-68 of the report. Administrative filing with no new information.
26 Apr 2017annual report● Neutral
Annual report for 2016 repeating the accounts and operations review. It confirms no Kyrgyz resources or reserves remain at 31 December 2016 following the sale, and carries the governance statement. No new developments.
13 Apr 2017material agreement▲ GoodMajor
Formal agreements signed for the Victoria Gold Project: US$1.8M cash (US$0.8M paid now) and US$2.0M of performance rights at A$0.002, the latter needing shareholder approval. About 38 licences over 250km2; cash around A$10M; exploration to start late April 2017.
3 Apr 2017annual report● Neutral
Full-year 2016 accounts, restating that the Kyrgyz sale completed on 23 December 2016, with the US$4.9M balance received 3 March 2017. Victoria acquisition remains subject to due diligence and approvals. Mark Calderwood is shown as non-executive chairman (since 1 July 2016).
3 Mar 2017asset acquisition disposition▲ Good
Final US$4.9M instalment of the US$10M Kyrgyz sale received on 3 March 2017, ahead of the early April deadline. This closes Manas's involvement in Kyrgyzstan and resolves the open payment risk on the sale.
31 Jan 2017material agreement● NeutralMajor
Revised binding terms for Victoria: cash falls to US$1.8M (US$0.8M on signing the formal agreement, US$1.0M on completion), with US$2.0M of performance rights at A$0.002 vesting on licence transfers. Licence area cut to about 280km2; Manas takes operational control, with a loan of up to US$0.5M.
28 Dec 2016asset acquisition disposition▲ GoodMajor
Kyrgyz sale to GGMRD completed 23 December 2016, with US$4.6M received (plus the US$0.5M deposit earlier); US$4.9M is due by early April 2017, with share security held. Savoyardy sold to NewGeo for a nominal sum, plus 50% of any onsale proceeds. Focus turns to Victoria.
20 Dec 2016asset acquisition disposition● Neutral
Kyrgyz sale to GGMRD (US$10M) has all approvals except permission to remit foreign currency. Payment is split: US$4.6M by 30 December 2016, final US$4.9M by early April 2017, pending a binding deed of variation. Completion slips from the pre-Christmas target only in structure.
22 Nov 2016director officer appointment● Neutral
David Kelly, a geologist and general manager of corporate strategy at Resolute Mining, joins as non-executive director. Founding director Colin Carson resigns after nine years, citing work commitments.
11 Nov 2016material agreement● NeutralMajor
Definitive sale agreement for the Kyrgyz assets signed 10 November 2016, on terms consistent with the earlier term sheet. Completion has slipped to just before Christmas, with a shareholder meeting planned around 12 December.
11 Oct 2016asset acquisition disposition▲ Good
GGMRD says its due diligence on the US$10M Kyrgyz purchase is complete and satisfactory. It now seeks Chinese regulatory approvals. Settlement is still targeted around the end of November 2016.
26 Sept 2016asset acquisition disposition● Neutral
GGMRD's due diligence period for the US$10M Kyrgyz purchase extended to 10 October 2016 because of a Chinese holiday. Settlement is still expected around the end of November.
13 Sept 2016half year report▼ Bad
Half-year loss was $19.5M, mainly an $18.54M write-down of the Kyrgyz assets to the agreed sale price. The share purchase plan raised $1.35M. Sale of the Kyrgyz assets and the Victoria acquisition are both pending.
31 Aug 2016asset acquisition disposition▲ GoodMajor
Agreements signed to sell all Kyrgyz assets for US$10.5M: US$10.0M to Chinese state-owned GGMRD (US$500k deposit) and US$0.5M for Savoyardy. This resolves the funding-or-sale search for Shambesai in favour of sale; needs shareholder approval. Victoria becomes the sole focus.
12 Aug 2016director officer appointment● Neutral
Philip Reese confirmed as CEO from 1 July 2016 on permanent terms: $250,000 fixed pay and 30M options at $0.005 expiring 2020. Six months' termination benefit applies on a change of control. Replaces his interim part-time terms.
15 July 2016capital raising announcement● Neutral
Somers and Partners will underwrite up to 74M shares ($203,500) of any shortfall in the share purchase plan. This gives partial certainty of funds for the plan, which closes 22 July 2016.
12 July 2016joint venture update▲ Good
The $657,000 placement closed oversubscribed and the US$200k Victoria deposit was paid. Technical and legal due diligence has begun, with CSA Global and others engaged. Talks with parties interested in Shambesai are said to be progressing.
7 July 2016capital raising announcement● Neutral
Offer booklet for the share purchase plan: up to 200M shares at $0.00275, capped at $0.55M, opening 8 July and closing 22 July 2016. Scale-back is possible if oversubscribed. No new terms beyond the 30 June announcement.
What it means for a shareholder
200m new shares at $0.0027 to raise about $550,000. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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