MKR - Gold & Silver producer
With Gold & Silver powering higher... came across Manuka Resources
The plant was commissioned in March – May 2020, with June & July gold production coming in at 2,000 Oz Month and we expect production of 3,000 Oz a month going forward, where they will target 32,000 Oz of gold for the 12 mth period. The head grade is currently running at 2.7 g/t Au.
We anticipate 2 x drill rigs will be on site by the end of July and an additional rig by the end of August
MKR are currently running seismic and conducting 3D modelling to really hone in on their targets as historically Mt Boppy was the highest grade gold mine in NSW producing >500,000 Oz of Gold at 15 g/t.
Summary below & presentation attached.
· Manuka is Australia’s newest Gold & Silver producer. In April of this year, Manuka started Gold production at its Wonawinta plant targeting >32,000 ounces of gold annualised, with an AISC of AS1,255. (Current A$ Gold spot is $2,245.38)
o Post completing Gold production over the first year of production, Manuka will enter > 4years of Silver production
§ Based on current silver prices, Manuka expects a margin of ~A$14oz from the silver stockpiles and a margin of ~A$11 oz going forward (Current A$ Silver spot is $25.11)
· Manuka own 100% of two, fully permitted, Gold& Silver projects located in the Cobar Basin of NSW, Australia.
o the Mt Boppy(Gold project) hosts an existing open pit resource of 44,000 oz Au grading 3.13g/t (of which 31,000oz Au is in reserve status)
o the Wonawinta (Silver project) consisting of mine, >850tpa plant and substantial neighbouring tenements which hosts a resource of 52M oz Ag (JORC resource 42g/t).
· Manuka has successfully re-commissioned the Wonawinta mill using a combination of debt and equity
o Total current debt of A$24.5 million
o The Company is now processing ore and is able to reduce its debt in entirety from operating cash flow
o Manuka is budgeting to be debt free in less than 12 months
· The total tenure package consists of over 1,126 km2 and has vast under explored potential
· Funds raised from the IPO will be primarily used for exploration drilling
o Significant exploration potential
§ Mt Boppy (Gold) Historically produced >500,000 ozAu @ 15 g/t;
§ Scant historical drilling below 120 metres deep; and
§ Wonawinta (Silver) has never been drilled below 100metres in depth
· Post the successful listing on the ASX, the company will run multiple drill rigs growing both the existing resources / LOM at both projects but also drilling out several already identified targets
o Manuka will have steady news flow surrounding production and exploration activity post listing
Preso below reads well.. seems a decent enough gold/silver punt @24.5c
DYOR as always
MKR looks well under the radar as major player in Silver/Gold production going forward with EPS that will drive value far higher than present.. dyor
22 Jul 2020
Fair MKR value $0.35c
MKR +10.2% thus far.. also looking real good!
Gold passed through US$1900 overnight & Silver US$23 respectively :) :) :)
80% of shares in escrow i.e. locked up for 2yrs & our chairman controls 36% of MKR with remaining free float tightly held. Gold & Silver powering higher makes MKR $$ boom times!
DYOR Cheers tela :)
MKR (Gold & Silver) rippper chart setup for move to 35c this week imo
market depth says it all
125 buyers for 4,247,031 units vs only 23 sellers for 631,552 units
DYOR as always.. Cheers tela :)
MKR flying +7.41% .. made fresh highs! :)
go HLX the neighbor drills
Just when I thought it couldn't go much higher - opened on Monday at 28c and by today it closed at 63c !!! UNBELIEVABLE