# MKR - Manuka Resources



## System (27 April 2017)

Manuka Resources is a mineral exploration and development company focused on developing an advanced silver project located near the mining town of Cobar in central New South Wales.

The Company's aim is to develop the Manuka Silver Project, recommence processing operations in the second half of 2017 and ultimately recommence mining operations. 

It is anticipated that MKR will list on the ASX during May 2017.

http://manukaresources.com.au


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## Dona Ferentes (12 July 2020)

IPO opened on* 09 June*; then the General Offer closed on* 11 June*. Only added a bit to the kitty (25 million shares) and existing shareholders hold 193 million, some 48% escrowed

from the AFR last month







> _Street Talk_ understands Manuka Resources, a gold and silver producer, closed its $7 million IPO on Friday last week – 12 days ahead of schedule – and is all set to hit the local bourse in mid-July. The $7 million raised implies a $50 million market capitalisation for the company, which has two gold and silver projects in New South Wales' Cobar Basin, north-east of Sydney..... The fresh capital will be used to finance drilling at Manuka's two mines, the Mt Boppy gold project and *Wonawinta silver project*. Manuka kicked off production at Wonowinta in April and has a production target of 32,000 ounces of gold a year



ASX reporting it will list on *Tuesday, 14th July 2020*, 10:30 AM AEST .

I'd be expecting a pop, as underlying demand, for the shares a hot PM sector and existing assets. Unhedged. Cashflow from workig stockpiles. Not drilled to depth, so an interesting time ahead.

MKR owns 100% of two, fully permitted, Gold and Silver assets located in the Cobar Basin of NSW. These assets include the following:
• The Mt Boppy *Gold* mine and substantial neighbouring tenements which hosts an existing open pit resource of 44,000oz Au grading 3.13g/t (of which 31,000oz Au is in reserve status);
 • The Wonawinta *Silver* project, with mine, processing plant and substantial neighbouring tenements which hosts a 52m oz JORC compliant silver resource grading 42g/t Ag; and
 • 850,000t.p.a. plant plus associated infrastructure which includes 2 fully operational mine camps and a recently expanded tailings storage facility.


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## bk1 (14 July 2020)

Quiet opening day, currently at opening price of $0.26. I thought it might have gone better, but i know little of mining companies.
Looked a good story to me..


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## Miner (14 July 2020)

On opening, MKR shot to 40% only to be subsidised at 25% premium to the listed price. IPO was oversubscribed and surely a great solace for the promoters and new holders.
Top 20 shareholders own 78% of total shares - unfortunately, after few hypes and profit booking, will make the liquidity to revert back to probably listed price after couple of months.
I got the smallest amount under the broker's quota. Do not see the much longer term as there was a heavy advertisement on the pre-IPO phase.
https://www.asx.com.au/asxpdf/20200710/pdf/44kfr70rxx8l8k.pdf
https://www.asx.com.au/asxpdf/20200710/pdf/44kfr52fjf4z88.pdf

https://www.asx.com.au/asxpdf/20200710/pdf/44kfr945yyv5sb.pdf


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## Telamelo (23 July 2020)

MKR seems like a pretty good value risk/reward exposure play to both gold & silver.

Have a read of articles below and see what you think.

https://finfeed.com/small-caps/mining/newcomer-manuka-resources-lists-substantial-premium-ipo-price/

https://www.australian-ipos.com.au/ipos/manuka-resources-ltd/

DYOR  Cheers tela


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## Telamelo (24 July 2020)

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

MorningstarTM Quantitative
22 Jul 2020
*Undervalued*
Fair MKR value $0.35c


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## Telamelo (24 July 2020)

MKR +10.2% thus far.. looking real good!


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## Telamelo (25 July 2020)

Telamelo said:


> MKR +10.2% thus far.. looking real good!



Gold passed through US$1900 overnight & Silver US$23 respectively


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## Telamelo (26 July 2020)

Telamelo said:


> 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


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## Telamelo (27 July 2020)

MKR (Gold & Silver) ripper 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


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## Dona Ferentes (27 July 2020)

Dennis Karp, the chairman of listed gold and silver miner Manuka Resources, said the Silver Institute is tipping a 5 per cent global production fall in 2020.


> "That'll mean five consecutive years of production decreases. We'll be back down to 2009 levels and the world has changed with new tech sucking up demand. "What you've seen recently is ETFs have suddenly chipped in and made a substantial dent in global supply."



Manuka is targeting a run rate of 2 million ounces of silver per year by 2021.

According to Mr Karp, about 1 billion ounces of silver are produced each year, versus 150 million ounces of gold.

The silver price has historically been valued on a multiple of the gold price.  Today one ounce of gold at $US1944 sells for 81 times an ounce of silver at $US24.12. In March that ratio ballooned to more than 100 as COVID-19 dislocated asset markets, but Mr Karp said it should return to a historical 40-year average between 40 to 80 in time.


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## Miner (28 July 2020)

50% from recent float price -oversubscribed IPO


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## Dona Ferentes (30 July 2020)

clean set of heels since 20c IPO


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## Miner (30 July 2020)

After chasing cheap way buying shares, tried Glengale Securities. $100 per trade. But the guy gives good advise and priority offer. Got MKR allotted on broker quota. Sold half of it and balance on free money.


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## Dona Ferentes (31 July 2020)

float of the year. Hit 65c today (briefly), still holding above 60c.



> guy gives good advise and priority offer. ...



"_Price is what you pay; value is what you get get."_

(DNH; FTB*)
* _Forgot To Buy_


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## Dark1975 (31 July 2020)

Re posting, posted in the wrong section, tho been following MKR thanks to telamelo
I bought @ 36cents per share , and have noted a substantial shareholder buying on Monday mkr  , which usually I look over, but particularly when lance Rosenberg bought 6% ( from spinite pty Ltd parent company to tricom
Up 33% today,


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## Dona Ferentes (1 August 2020)

most remarkable. Pre IPO s/holders hanging in there?

MKR since IPO @ 20c :


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## Dona Ferentes (24 August 2020)

Resource extension at the Mt Boppy gold resource is a key focus of the three-stage exploration program but needs to be coordinated with existing grade control and void management drilling.  

Two drill holes collared at the 215 m RL in the southwestern part of the pit as part of a six hole program testing dip extensions to mineralisation have now been completed with significant results following: 

MBGC0042 57 m-78 m (21 m) average 20.69 g/t Au (stope fill 67 m-78 m) OR 10 m @ 34.48 g/t Au adjusted for stope fill dilution; 
MBGC0043 59 m-79 m (20 m) average 11.73 g/t Au (stope fill 72 m- 77m) OR 14 m @ 14.51 g/t Au adjusted for stope fill dilution 

These two intercepts are approximately 7 m to 29 m beneath the current planned pit floor. The exploration results have been prepared and reported in accordance with the JORC Code 2012.

(_up to 68c at close , a near 20% lift after coming back on line_)


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## Miner (24 August 2020)

Dona Ferentes said:


> Resource extension at the Mt Boppy gold resource is a key focus of the three-stage exploration program but needs to be coordinated with existing grade control and void management drilling.
> 
> Two drill holes collared at the 215 m RL in the southwestern part of the pit as part of a six hole program testing dip extensions to mineralisation have now been completed with significant results following:
> 
> ...



With such a shallow level high grade , they need a shovel to get gold. Solid Aisc unless the metallurgy and refining process is complicated.
Holding.


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## Dona Ferentes (9 December 2020)

trading halt, Capital Raise. ... 40c?


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## Miner (9 December 2020)

Dona Ferentes said:


> trading halt, Capital Raise. ... 40c?



So soon. They had an IPO only few months back.
Interesting.
However this announcement simultaneously with trading halt could throw some challenge to raise fund  at 40 cents and opportunities for bargain hunters after  trading opens  : 


			https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02319016-2A1268601?access_token=83ff96335c2d45a094df02a206a39ff4
		

Holding at zero cost after selling half of my holding when price shot up.


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## The Babadook (9 December 2020)

Exploratory drilling results promising, hopefully the CR enables speedy mining and profits.


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## Dona Ferentes (10 December 2020)

Miner said:


> So soon. They had an IPO only few months back.
> Interesting.



• _Manuka has received firm commitments to raise A$7 million through a strongly supported Placement at *A$0.40 *per share from a range of domestic and international institutions and existing shareholders_

Diluting on existing holders (unprofessionals), who don't get a look in..... @Miner - You did well to get a free carry


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## Dona Ferentes (1 February 2021)

silver angle working for MKR :

1. _Poised to become the biggest  primary silver producer in OZ starting mid 2021. 
2, Sold 3600 ounces of gold at an average price 150 bucks above the current spot price. (Has zero hedging).
3. Current trends suggest full year production an cash income will be well ahead of the IPO forecasts from June 2020_
4. Also: _update on recent drilling programs at the Company’s Mt Boppy gold deposit at Canbelego, NSW. 

*Highlights:  23%  increase in contained ounces and  20% increase in grade  *_
_• Since its IPO Manuka has undertaken four drill programs to test the extent of high-grade mineralisation beneath the Mt Boppy designed pit, with assays received from three of the four programs thus far 
• A comprehensive 3,139m grade control drilling program at an average 10m spacing within the existing Mt Boppy pit was completed in November 2020, to confirm the extent of gold ore remaining within the current designed pit. 
• Based on the gold assay results received and modelled to date, the Resource Update in all categories totals 362,430 tonnes @ 4.62g/t Au for a total contained 53,870oz Au_. 
•


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## bluekelah (1 February 2021)

Dona Ferentes said:


> silver angle working for MKR :
> 
> 1. _Poised to become the biggest  primary silver producer in OZ starting mid 2021.
> 2, Sold 3600 ounces of gold at an average price 150 bucks above the current spot price. (Has zero hedging).
> ...



Just dumped 10k in today. wish me luck. Looks like a mining giant in the making.


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## Telamelo (19 May 2021)

> Aussie gold price crossed above $2400 per ounce whilst silver above $36
> 
> 
> 
> ...


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## Telamelo (19 May 2021)

Amidst a big red market day overall..

*MKR* held both 20dma & 50dma support closing @ 0.42c on very low volume retrace 

https://asx.swingtradebot.com/equities/MKR:ASX


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## Telamelo (20 May 2021)

Telamelo said:


> Amidst a big red market day overall..
> 
> *MKR* held both 20dma & 50dma support closing @ 0.42c on very low volume retrace
> 
> https://asx.swingtradebot.com/equities/MKR:ASX



Aussie Gold & Silver prices spiking as we speak


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## Telamelo (22 May 2021)

Aussie Gold price up overnight to $2,434oz more $$ for MKR (near term Silver production to commence operations by Sep '21)  dyor


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## Telamelo (29 May 2021)

Gold price up again overnight to US $1906 = AUD $2470

Silver rose to US $28.07 = AUD $36.21

Should see MKR sp re-rate over coming months with ramp up in production & cashflow $$ in Gold & Silver.

Cheers tela


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## Telamelo (1 June 2021)

*MKR* "Wonawinta Deeps Proof of Concept Drilling Successful" just announced .. 18 pages to read but sp jumped +6.41% already so am guessing it's "very good news" lol Glad to have topped up recently at 0.38c dyor


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## mullokintyre (1 September 2021)

MKR quietly defying the PM sentiment at the moment.
Could the cooking show stock be ready for run up??
Mick


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## mullokintyre (9 September 2021)

The cooking show stock one of my few greens today.
Another record gold sale value for the month surpassing last months sales.
Not exactly huge amounts, but they are heading in the right direction.
Mick


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## mullokintyre (24 September 2021)

the cooking show stock  up another 10% on very low volume.
Looks like those holding Just don't want to sell.
Looking to offload some at 36 from some sub 30 buys.
Mick


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## mullokintyre (6 October 2021)

Quarterly out, 9 mill sales won't set the world on fire, and production from mining and stockpile to finish early 2022 will put a bit of a dampener on things.
Silver mining and production to keep going, but that won't generate enough cash to get top the next level.
Still holding, but will definitely exit between 35 and 36.
Mick


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## mullokintyre (12 October 2021)

Why do I get the feeling there is a bit of ramping up with this company??
Announced on October 5th that they had another record sales in September.
Today, they basically announced it again, and said that they would announce it a third time when the quarterly report comes out shortly??
Think I might take whatever profits on this one.
Mick


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## mullokintyre (21 October 2021)

quarterly out, now saying that they will get nearly twice the gold out of the Mt Boppy mine as the original prospectus said.
Thats good.
But still some uncertainty after next two quarters when mining and ore processing stops.
Will need to come out with a production plan for the Wanowanta silver mine fairly quickly.
Plan to sell the other half at 41 with the  expectation that it will fall back before the silver mine gets going and can have another crack.
Mick


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## Sean K (21 October 2021)

mullokintyre said:


> Will need to come out with a production plan for the Wanowanta silver mine fairly quickly.




I added this to my watch list today while trying to find a silver play. Had a good run the past few weeks.

MST (not heard of them before) put a 99c price target on them. That would be a good return. But I think MST is one of those companies where you pay them to do research on you for a favourable report...


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## mullokintyre (16 November 2021)

Never got to my 41, maybe this time it will.
Still kinda wary of this one, as there is still a lot of risk attached to the price, as well as potential rewards if they firm up the Mt Boppy pit.
ill bail if it goes beyond the 41.
Mick


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## Dona Ferentes (16 November 2021)

_Steady Profits for October, Debt Further Reduced _

Manuka is pleased to announce another month of strong gold sales and profitability from its Mt Boppy operation, achieving $2.26 million in profit for October (excluding unrealised foreign exchange gains from the existing USD debt facility).  The Company also made a further principal repayment during October. 

Sales Revenues .. AUD $6.19 million
 Gold sold   ............ 2,485 oz 
Silver sold ............  2,998 oz
Total costs (including finance and corporate overhead)  .. AUD $3.93 million
Unaudited Monthly profit  ...AUD $2.26 million

The Company advises that following what is now four months of excellent cashflow generation, it has elected to make a further principal repayment of US$1 million against its existing debt facility during October 2021. As advised previously, the Facility is not due for repayment until 30th September 2022, but Manuka has the capacity within the terms of the Facility to make early repayments with no penalty. The residual balance is now reduced to USD$8.0 million.


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## mullokintyre (18 November 2021)

Big queue of sellers for the cooking show stock.
I never got my 41, looks like I won't in the near future.
Will hold the bit i have left, just in the off chance that silver goes ballistic.
mick


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## mullokintyre (2 December 2021)

MKR announce that massive rainfall events have flooded the Mt Boppyy pit.
It won't affect things immediately, as it has 3 months worth of ore stockpiled.
They are doing engineering checks to see what effect the water will have over the short term.
They had planned to close down the put mining in the first quarter next year, so it may just bring that forward.
mick


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## noirua (31 December 2021)

Live long term chart: https://uk.advfn.com/p.php?pid=staticchart&s=ASX^MKR&p=5&t=1
Live Day chart: https://uk.advfn.com/p.php?pid=staticchart&s=ASX^MKR&p=0&t=1





						Manuka
					

Manuka Resources (ASX:MKR) is Australia's newest gold and silver producer




					www.manukaresources.com.au
				








						Projects | Manuka
					

Manuka Resources is Australia's newest gold and silver producer, operating in the highly prospective Cobar Basin.




					www.manukaresources.com.au


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## mullokintyre (2 February 2022)

seems to be a stand off between buyers and sellers.
No trades so far today after the announcement that they have bought a second hand 1MTPA flotation circuit which will double capacity.
Probably a smart move in that getting new stuff is a bit iffy  currently.
They recon they they can shift it and have it up and running by mid 2023 if required.
They are still processing Gold ore and will do so for another month before they switch over to processing Silver from Wonawinta.
So they have an income stream, and about 7 mill in debt  which is about 2 quarters of free cash flow.
Seems a reasonable risk to take in buying  at or below 30.
Mick


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## mullokintyre (22 February 2022)

In trading halt.
given that it has risen in past two weeks by 15%, I am going to bet on good news.
Mick


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## mullokintyre (24 February 2022)

Well, its a cap raising gift for the instos and sophistos at 30, some 4 cents or around 11% below the last closing price.
Never did get any extra at that sub 30 cents price, had bid in at 28.
Unlikely to get sub 30 now.
Mick


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## mullokintyre (28 March 2022)

Well, I did get my sub 30.
Probably wont stay below 30 for  long.
Todays announcement re RC drilling results says that Mt Boppy deposit yielded further surface extensions along strike of 30 meters  at a depth of 100m at it remains open at depth, with some of the deeper drilling yielding 30  @ 7.6 gm/tonne..
It will be interesting to see the upgraded JORC results due second quarter.
Mick


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## bluekelah (27 April 2022)

This stock has been somewhat beaten down recently. Hopefully an big upswing in Gold price will see it go up and recover quickly. My pick for the upcoming stock pick comp.


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## mullokintyre (1 June 2022)

The kitchen cooking show stock put out a report today fessing up that the Silver production from Woawinta has not met forecasts, but they promise to improve now that the second plant has been added.
I would really like this thing to be a silver winner, but they are not filling me with any confidence.
From the report
1. Silver production commissioning occurred late March 

 2. Production performance during April was behind target, largely due to contract crushing operational issues. (A second crushing circuit is due to arrive on site on 3 June 2022, which should provide a material increase in capacity).  

3. May production, as per the numbers in the table below, was also initially impacted by contract crusher issues but are now largely resolved. The Company is confident of achieving combined budgeted production of >275,000 ounces silver for June and July.   

4. Recoveries continued to improve throughout May, as the on-site team overcame silver commissioning issues (not previously encountered with gold production). Thus, initial recoveries of ~50% in early May improved dramatically to almost 70% by month end.  

5.    Going forward, budgeted recoveries for the Wonawinta stock-pile are 78%, equating to silver production of circa an additional >820,000oz through to end November 2022.  

6. As previously advised Manuka expects to announce its maiden silver reserve once steady state production is achieved and current cost estimates can be confirmed,   

 Sales Revenues - May 2022 Silver sales  Gold sales Silver in circuit AUD $2.0 million 55,600 oz      175 oz ~35,000oz 
Mick


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## mullokintyre (10 June 2022)

When all else in the portfolio is a sea of red, today the cooking show stock is up 12.5%.
No announcements out in the past week, so can only assume that the there is some good news in the offing that has been leaked to those in the know .
Mick


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## mullokintyre (18 July 2022)

From those highs its been all down hill.
Hit (another) 52 week low today.
Hope it just keeps tanking so I can buy it at much cheaper prices, as I see it as a long term silver play.
Mick


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## Telamelo (18 July 2022)

mullokintyre said:


> From those highs its been all down hill.
> Hit (another) 52 week low today.
> Hope it just keeps tanking so I can buy it at much cheaper prices, as I see it as a long term silver play.
> Mick



I'll rather wait & watch from the sidelines for it to turnaround (along with improving silver price).


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## mullokintyre (25 July 2022)

Some reasonable drill results out today, so that seems a good enough reason to put it into the August comp.
Mick


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## mullokintyre (26 July 2022)

mullokintyre said:


> Some reasonable drill results out today, so that seems a good enough reason to put it into the August comp.
> Mick



Scrub that, got the wrong company for drilling results, should have been ODY.
And of course on cue, MKR reached a 52 week low on the open.
I guess in picking it by mistake, it will be starting from a very low base for the August comp..
Mick


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## mullokintyre (29 July 2022)

mullokintyre said:


> Scrub that, got the wrong company for drilling results, should have been ODY.
> And of course on cue, MKR reached a 52 week low on the open.
> I guess in picking it by mistake, it will be starting from a very low base for the August comp..
> Mick



MKR report on MRE out.
The Mt boppy pit  that s about to go to underground mining has had a small increase in Gold resources, and at a higher grade.
Its not earth shattering at 45k ounces, but its better than losing money.
I was really interested in the Wanowinta silver deposit.
First ore processed in April, and on track  for 140,000 ounces a quarter.
They expect to be cash flow positive and profitable in this quarter.
With the recent increase in silver prices over this past week, thought it might have got a kick on.
Just in case , I topped up a few today at 16.
Mick


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## mullokintyre (7 October 2022)

Been a bit of buying into MKR this past week.
Good volume, and may have bottomed out.
certainly hope so.
Riches await me.
Mick


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## mullokintyre (11 November 2022)

MKR up 10-% today.
Bout time.
Riches still elude me.
Mick


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## mullokintyre (29 November 2022)

Back to 16 today.
After a few days of good runs, it got dumped 10% today.
Not sure why, perhaps it just got to far ahead of itself.
Mick


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## mullokintyre (8 December 2022)

ARRGGGHHH!
The Cooking show stock in a trading halt for a cap raise to the sophisticates.
Down to 13 before the announcement, so will fall even further as they give a stag profits to the sophs.
Geez, this has been a dud for me.
Mick


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## mullokintyre (12 December 2022)

10.5 cents as the sophos entry price.
Won't be touching this one again.
mick


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## mullokintyre (20 December 2022)

Against my better judgement, I am staking out MKR as my entry for Jan 2023 tipping Comp.
I am still bullish silver (editor - have you ever not been?),  nut my preferred vehicle, SVN was already taken, so this is second best.
Was a toss up between this one and ARD,  but MKR, having fallen a lot recently,  may get a floor put under it to allow all the instos to bail out.
Mick


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## Dona Ferentes (Yesterday at 2:03 PM)

mullokintyre said:


> Against my better judgement, I am staking out MKR as my entry for Jan 2023 tipping Comp



So far, so good, Mick. A tie but a place, is a place.


*3.**mullokintyre*MKR0.085​0.02​*23.53*​*4.**peter2*GCM0.017​0.004​*23.53*​


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## mullokintyre (Yesterday at 2:19 PM)

Dona Ferentes said:


> So far, so good, Mick. A tie but a place, is a place.
> 
> 
> *3.**mullokintyre*MKR0.085​0.02​*23.53*​*4.**peter2*GCM0.017​0.004​*23.53*​



MKR up to 0.105 just now, GCM  to  0.02, peter2 may have eased past me.
mick


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