weekend lounge short term trading 23 -25th aug, page-16

Entry for STT list

MSR Manas Resources FA

5.5c
$15 million cap
$6 million cash

Cashed up, low cost gold stock yet to double like most of the other good ones.

Owns Shambesai, a shallow gold deposit with a JORC of 700000 ounces.

2013 BFS shows project to be low-cost, high-margin open pit operation. First gold pour late 2014, Capex very low at $41 million. Payback period quick at 11 months.

Cash costs/Opex lowest going around at $387 per ounce.

Metallurgy - no problems there with 84.6% recovery using vat and heap leach process.

Has other projects, and will be drilling at its 500000 ounce Obdilla prospect, 7km from Shambesai.

Has fallen 65% this year, now formed a solid base at 5.5c.