Frequently Asked Questions
1. What is Manas Resources’ plan for increasing shareholder value?
Our strategy for increasing shareholder value is to continue to grow our resource base and explore and develop our nine projects in the Kyrgyz Republic. Currently we have total JORC Resource base of 1.18 million ounces of gold at our Shambesai and Obdilla projects, and we are aiming to grow it rapidly.
A Definitive Feasibility Study (DFS) on the Shambesai Gold Project has shown the project will be one of the lowest-cost gold operations in the world.
2. Why is Manas Resources exploring for gold in the Kyrgyz Republic?
The Kyrgyz Republic covers a significant portion of the Tien Shan gold belt, which is considered to be second only to the Witwatersrand of South Africa in terms of possible global gold endowment.
The Tien Shan is known for extensive gold mineralisation with numerous world class gold deposits such as Muruntau (more than 100 million ounces of gold) in Uzbekistan, and Kumtor (17 million ounces) in the Kyrgyz Republic.
We are now one of the largest and most active gold explorers in the Kyrgyz Republic.
3. Is the Kyrgyz Republic a safe place for gold miners?
The Kyrgyz Republic is a welcoming country for mining and exploration companies. Since the break-up of the former Soviet Union in 1991 there have been many new discoveries from the Tien Shan gold belt. This is likely to continue on an upward trend given the number of Western companies now exploring within the region. The Centerra Gold-owned Kumtor gold mine is the largest operating gold mine in Central Asia.
In late 2013, Manas won support from the Kyrgyz Republic Energy and Minerals Parliamentary Committee for immediate development of the Shambesai project.
4. Does Manas Resources plan on becoming a producer?
A Bankable Feasibility Study for Manas’ Shambesai Gold Project estimated the operation would process 2.54Mt of ore at 3.4g/t gold containing 277,000 ounces of gold and recover 227,000oz of gold over a 4 ½-year mine life at operating cash costs of US$387/oz.
Manas was granted a Land Permit for the project in September 2013. In December, the Company received a recommendation from the Kyrgyz Republic Minerals and Energy Parliamentary Committee for immediate development of the project, paving the way for development of the project in 2014.
5. What is Manas Resources’ financial position?
At 30 September 2013, we had $3.0 million in the bank. At 3.5 cents our market cap is $14.5 million.
6. Who are Manas Resources’ major shareholders?
Perseus Mining Limited - 13.13%
7. When was Manas Resources incorporated and listed on the ASX?
Manas was incorporated in October 2007 and listed on the Australian Securities Exchange in July 2008.