Summary:Manas Resources Limited (ASX – MSR) is an Australian...

Summary:

Manas Resources Limited (ASX – MSR) is an Australian based company exploring for gold and has 9 projects.

Market CAP 13.7 Million
6.6 Million Cash in Bank

875,000 ozs currently in the resource base which currently only comes from two projects Shambesai and Obdilla.
This resource base does not include the latest 2 drill results.

Shambesai 485,000 ounces
Obdilla 390,000 ounces

8 Rigs Operating 24 hrs a day , 7 days a week to drill 99 holes before the end of 2009.

Management are not mucking around that's for sure!

So expect Plenty of News Flow and price action!

In Shambesai the First two Holes have already been Drilled and the following Outstanding results were found.

Very High Grade results:

21m at 8.75g/t gold from 55m in hole SHDDH099 including 14.9m at 12.2g/t gold from 59m and
31m at 4.26g/t gold from 41m in hole SHDDH098 including 15.1m at 7.69g/t gold from 43m

12 More holes have also been Drilled and were ready for Assay on the 14th, results expected any day now.

*** Free! one-for-two options offer for shareholders registered on the 31 August. Options to be exercisable for 20c in late 2011.***

Top 20 holders hold over 60% of the stock. Tight Share Register. 118 million shares on issue.

Major Shareholders:
Perseus Mining (PRU): (Spun from)
MSR Directors
Macquarie Bank Limited

Management targeting 2M gold oz's before the end of 2010- a extremely conservative Target imo.

This Stock is my pick of all the Gold stocks to appreciate the most between now and the end of the year.

Im holding between 14c-14.5c and are looking forward to my free options.

This will "discount" any buyers... " buy in price" if they get in before the record date .

The 12 drill results expected shortly, if anything like the first 2 could put the options in the money, straight away, before the options are even issued free to holders.

Effectively the options could be worth around 5c in this scenario, discounting the cost of head shares purchased before the record date.

The lead up to the Free Options, Record date should provide support/appreciation in price for the stock to a degree, therefore some weakness for the stock could possibly occur the days following the record date, that normally would be expected, however I expect the results from those 12 drills to be in before the record date and given MSR already is seriously undervalued,has cash,has news flow, and to a large degree not known by the market yet, MSR could double in price on those results alone if they come close to those of the first two, and even if the results are fairly average , there are another 87 drill results to be released before the end of the year, and these results just from 2 of 9 projects.... i.e there are many more... in one other project, a pre-feasibility study, aimed to bring the Savoyardy project into production in early 2010 at a rate of 10,000 ounces per annum.

AA