Manas Resources Limited (ASX – MSR) is an Australian-based gold explorer in the Kyrgyz Republic with substantial resources, high-grade drill targets and a large highly-prospective land holding in the world class Tien Shan gold belt.
We have a resource base of 1.18 million ounces of gold at our Shambesai and Obdilla gold projects which will continue to grow through aggressive and continuous exploration.
A Bankable Feasibility Study was released for Shambesai in May 2013 which confirmed the original concept of the April 2012 Shambesai Definitive Feasibility Study (DFS) which demonstrated the project as a low-cost, high-margin gold project that is technically simple and which can be commissioned in a relatively short time frame for a low capital cost.
In September 2012, the approval of the TEO Study (Russian interpretation for Justification of Technical and Economic Conditions) was received from the Mineral Reserves Commission acting on behalf of the State Agency for Geology and Mineral Resources of the Kyrgyz Republic (SAGMR). Manas was then entitled to apply for and receive a production licence.
In December 2012, Manas was awarded a Mining and Development License for the Shambesai Gold Project which secured legal tenure over the deposit area and permits the completion of the design, construction and commissioning phases of the project. Manas also obtained the approval for Shambesai’s development concept by the Urban Development Council (UDC) of the Kadamjai Region of the Batken Oblast, allowing the Company to proceed to full design development.
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Our strategy and corporate objectives are:
1. To develop the Shambesai Gold Project to production
2. To rapidly grow our 1.18 million ounce gold resource
3. To explore our highly prospective exploration portfolio in the Kyrgyz Republic
After listing on the ASX in 2008, we are now one of the largest and most active gold explorers in the Kyrgyz Republic.