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  • Manas Resources Director Tops Up Shareholding On-Market 0 comments
    Apr 12, 2013 3:26 AM

    Manas Resources (ASX: MSR) non-executive director Colin Carson has purchased an additional 200,000 shares on-market.

    Carson acquired the shares for a total consideration of A$18,633, providing an average entry price of $0.09. He now holds around 1 million shares.

    Most recently, Manas finalised plans for a two tranche, A$5.1 million capital raising to accelerate permitting and development activities at its wholly owned Shambesai Gold Project in the Kyrgyz Republic.

    Pre‐development activities at the project will include completion of the Environmental and Social Impact Assessment for permitting purposes, construction of the mine camp, commencement of road works and completion of geotechnical and plant‐site sterilisation drilling.

    An estimated 10,000 metre drilling program will begin shortly at Shambesai and Obdilla aimed at increasing the resource at both projects.

    Project financing discussions are also progressing with strong interest received from a number of debt providers.

    On completion of the capital raising, Manas will have over $9 million in cash which will leave it ideally placed to accelerate pre‐development activities at Shambesai and facilitate negotiations for project debt financing.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

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