Manas finalises capital raising plan, continues talks to fund Shambesai
JOHANNESBURG (miningweekly.com) – Australian junior Manas Resources said on Thursday that it planned a A$821 000 capital raising, which it would use as working capital for its administrative and corporate overheads.
The company, which is developing the Shambesai project, in the Kyrgyz Republic, said that only a limited amount from the raising would be earmarked for activities at the gold project.
Manas was continuing with a dual strategy of procuring project finance for the development of the Shambesai project or securing a partial or outright disposal of its Kyrgyz mineral assets. The company was in “active discussions” with a number of parties in this regard.
In terms of the capital raising, Manas reported that it comprised a private placement and a nonrenounceable entitlement offer. It aimed to raise A$134 000 by placing 134.4-million shares. The nonrenounceable entitlement offer would be on a two for three basis and would raise about A$687 000.
The Shambesai project is expected to produce 241 000 oz of gold over a four-and-a-half-year mine life. The project, with a throughput of 550 000 t/y, will produce an average of 55 000 oz/y of gold, assuming treatment of all oxide and sulphide ore reserves falling within the design pit.
Comments
Research Reports
Projects
Latest News
Showroom
Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...
VISIT SHOWROOM
Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
