Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Manas Resources Appoints Mark Calderwood As New Chairman

Manas Resources (ASX: MSR) has appointed director Mark Calderwood as its chairman replacing Rob Scott who resigned to reduce his workload.

Calderwood has 20 years' experience in exploring for and mining gold. This includes a 10 year stint as managing director ofPerseus Mining (ASX: PRU, TSE: PRU)

Manas has received full support from Kyrgyz Republic Prime Minister Jantoro Satybaldiev and local officials for the development of its Shambesai gold project, which is targeted for first production by end 2014-early 2015.

It has the potential to be a simple, high-grade, high-recovery gold leach project with a BFS complete for more than 220,000 ounces of gold at US$387 per ounce. Total LOM (C3) after capital and tax is estimated at just US$676/ounce.

This places Shambesai among the lowest quartile of costs in the gold sector.

In total Manas has a Resource base of 1,184,000 ounces of gold at the Shambesai and Obdilla prospects, which are only seven kilometres apart.

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.