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.