Australian (ASX) Stock Market Forum

MKR - Manuka Resources

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Dona Ferentes said:
trading halt, Capital Raise. ... 40c?
Click to expand...
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 :
Holding at zero cost after selling half of my holding when price shot up.
 
Last edited:
Miner said:
So soon. They had an IPO only few months back.
Interesting.
Click to expand...
• 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
 
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.
•
 
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).
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.
•
Click to expand...
Just dumped 10k in today. wish me luck. Looks like a mining giant in the making.
 
  1. Aussie gold price crossed above $2400 per ounce whilst silver above $36
    clear.png


    https://goldbroker.com/charts/silver-price

    asx.swingtradebot.com

    MKR Share Technical Analysis | Manuka Resources Limited

    Current Technical Analysis and interactive chart for $MKR stock / shares. See the current trading strategy, trend(s), rating and buy and sell signals.
    asx.swingtradebot.com asx.swingtradebot.com

    MKR share price has crossed above 20dma & 50dma respectively (bullish technicals).

    Cheers tela :)
    Click to expand...
 
Aussie Gold price up overnight to $2,434oz more $$ for MKR (near term Silver production to commence operations by Sep '21) dyor
 
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 :)
 
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
 
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
 
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
 
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
 
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
 
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
 
mullokintyre said:
Will need to come out with a production plan for the Wanowanta silver mine fairly quickly.
Click to expand...

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...


Screen Shot 2021-10-21 at 3.02.44 pm.png
 
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
 
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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