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  • Manas Resources' Directors Lead The Way Through Participation In Entitlement Issue 0 comments
    Dec 15, 2013 8:11 PM

    Manas Resources (ASX: MSR) directors have demonstrated their confidence, subscribing for their full entitlements in its non-renounceable entitlement issue to progress development of its Shambesai Gold Project in the Kyrgyz Republic.

    Managing director Stephen Ross acquired 912,417 shares for $36,496.68, increasing his total shareholding to 2,737,251 shares.

    Chairman Robert Scott acquired 125,000 shares for $5,000, increasing his shareholding to 375,000 shares.

    Non-executive director Colin Carson acquired 550,000 shares for $22,000, increasing his holding up to 1,650,001 shares while Mark Calderwood purchased 286,668 shares for $11,466.72 bringing his shareholding up to 385,001 shares.

    Proceeds from the entitlement issue will be used for pre-development and development costs including:

    - Completion of the OVOS (the Kyrgyz Republic equivalent of the Environmental and Social Impact Assessment;
    - Detailed plant design and engineering studies;
    - Completion of permitting;
    - Land acquisition, government and community relations expenses;
    - Commencement of site works;
    - Project finance costs; and
    - Working capital.

    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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