Ann: US$10.5m Sale Agreements Executed for All Kyrgyz Assets-MSR.AX, page-76

Not sure if any copyright issues but here goes:

Disappointing Shambesai sold to Chinese

AFTER having $A30 million or so raised from investors for it over the past decade, Manas Resources’ Shambesai gold development project in Kyrgyz Republic is being sold for about $13 million to Chinese investors.

• Michael Quinn​
• 31 Aug 2016​
• 8:52​

Manas chairman Mark Calderwood said the sale was a “positive result” in the “current market”.
The gold market is currently very good.
However operating in Kyrgyzstan evidently remains a tough ask.
As is required for publicly listed companies, Manas has continually painted as positive a light as it could about Shambesai and its prospects for development.
In the end though, various negatives in Kyrgyzstan including political instability and possibly elements of local opposition to the project – though the latter situation, if real, has never been particularly clear one way or the other – have evidently resulted in the exit of the ASX-listed company.
Manas got the project in about 2008 from Perseus Mining, which had spent about $5 million on the project over the previous three years.
Manas’ IPO saw $6 million raised, with $4 million subsequently raised the following year, $11.5 million in 2010, $5.5 million in 2013, $850,000 in 2014, $4.7 million in 2015 and $820,000 earlier this year.
Macquarie was an early backer of the company, while in 2016 Resolute Mining became an investor.
Resolute’s interest is said to be the exploration ground in Tanzania that Manas is set to focus on post-Shambesai.
Shares in Manas were up 66% to 0.5c in morning trade, capitalising the company at about $13 million.