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MKR - Manuka Resources

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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
 
mullokintyre said:
10.5 cents as the sophos entry price.
Won't be touching this one again.
Click to expand...
For what started out so well, MKR has achieved 'serial disappointment' status. Now 8.7c


And now changes at the top and a strategic review. Can't just be spending money, got to make some as well.
 
Given my previous almost success with MKR., I am pinning my hopes on MKR again for the March comp..
Mick
 
mullokintyre said:
Given my previous almost success with MKR., I am pinning my hopes on MKR again for the March comp..
Mick
Click to expand...
perhaps my hopes were misplaced.
Another 52 week low this morning, down 2.6% on the first day of the comp.
Not looking great, and the chart does not fill me with great joy either.
Why did I pick this dog again?
 
Just when you think things cannot get any worse, its down another 15%, and a new improved 52 week low.
Must be well on the way to picking up the wooden ladle.
mick
 
mullokintyre said:
Just when you think things cannot get any worse, its down another 15%, and a new improved 52 week low.
Must be well on the way to picking up the wooden ladle.
mick
Click to expand...

That's nasty stuff Mick. Are you holding? What's the plan?
 
Yep, been a long term holder.
Its so far out of the money I will keep it in the bottom drawer to offset come EOY tax time, just in case the new CG rules on SMSF come along to ruin me.
Mick
 
Kinda mixed feelings about it all.
The fact that it is up 18% today is great, still well out of the money though.
But I bought it because of the Wonawinta silver play, now its been deferred for at leat three years.
The startup of the gold plant last year was to develop enough free flow cash to further develop Wanowinta.
Not sure where they are going.
looks a bit like clutching at straws.
If I get within sniffing distance of break even, I will escape with some loss.
Mick
 
Mkr bhaving another run today.
Up another 11%, not sure why.
Needs to break and hold above 10 cents before I get too excited.
mick
 
Latest 15% run came a little late for the comp.
Still waiting for it to break above and hold at the 10.5 or above.
Next stop then is 16.5 and 18 then the 12 month high of 31.
Am I asking too much?
Mick
 
AaRRGGGHHH!
Another bloody cap raisng to the sophistos.
Had one in December that crunched MKR back from previous short term highs of 13.
Now another one barely 4 months later at 0.061
They must be putting in gold plated dunnies for the execs.
Will be taking a biggish loss on this one methinks.
Mick
 
This so called "dog of a stock" MKR is my tip for June '23 comp.

MKR recently completed a $2.4m capital raising - having issued 17.9 million shares at 0.0613c and 20.155 million shares at 0.0645c each respectively.

MKR plans to use this fresh cash injection for general working capital & to help fund the transition to gold production at it's Mt Bobby mine located in Cobar basin, NSW.

The transition is supposedly already underway with revenues from gold sales expected to commence by mid June '23 (if all goes to plan).
 
mullokintyre said:
I am not a charting bloke, but even I can see that the chart for the cooking show stock is not a great look.
View attachment 157894

Mick
Click to expand...
Agree mate.. terrible downtrend that's definitely 'not your friend here' lol (similar chart to my other holding YOJ that seems to have thankfully bottomed recently)

P.S. I tend to 'dip my toe in the water' so to speak during such negative sentiment/prices etc.
 
Been caught out dipping my toe before.
Lucky to have any feet left , much less toes.
I will buy more, but not until I have some (very) convincing signs it has at least bottomed, if not turned upwards.
mick
 
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