MKR - Manuka Resources

[System]

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

 

[Dona Ferentes]

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.

 

[bk1]

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..

 

[Miner]

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

 

[Telamelo]

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

 

[Telamelo]

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

 

[Telamelo]

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

 

[Telamelo]

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

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

 

[Telamelo]

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

 

[Telamelo]

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

 

[Dona Ferentes]

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.

 

[Miner]

50% from recent float price -oversubscribed IPO

 

[Dona Ferentes]

clean set of heels since 20c IPO

 

[Miner]

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.

 

[Dona Ferentes]

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

 

[Dark1975]

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,

 

[Dona Ferentes]

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

MKR since IPO @ 20c :

 

[Dona Ferentes]

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)

 

[Miner]

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)
View attachment 108136

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.

 

[Dona Ferentes]

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