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Manas is exploring for gold at its Shambesai project in southern Kyrgyzstan.

Manas to buy gold project in Tanzania

Shares in local explorer Manas Resources have doubled in value on news the company has entered into an agreement to acquire the Victoria gold project in Tanzania from a private Italian group for $US4 million ($A5.4 million) in cash and shares.

Manas will pay $US1.8 million in cash to buy the gold project from Italian group Cienega, plus $US2 million in shares at a price of 0.2 cents each.

The price of the share component of the deal is a 100 per cent premium to the company’s last closing price of 0.1 cent.

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Share Price

Closing price for the last 90 trading days
Source: Morningstar

Total Shareholder Return as at 28/04/17

1 year TSR5 year TSR
94thManas Resources151%-46%
707 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

28/07/16
$14k Issued
28/07/16
$14k Bought
28/07/16
$14k Issued
Total value as at the date of the transaction
Source: Morningstar

Revenue

th-Manas Resources$40k
494 listed resources companies ranked by revenue.
Source: Morningstar

Remuneration from Manas Resources

906thMark Calderwood$48k
thJustin Lewis$15k
353rdSusmit Shah$8k
Ranked by total remuneration from all listed WA companies

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