- Joined
- 28 September 2020
- Posts
- 5
- Reactions
- 6
It actually peaked my interest quite recently, when it was ranging in the 20s. Trading this, I wished I was here earlier..
MKR - Manuka Resources
- Thread starter System
- Start date
-
- Tags
- manuka resources mkr
- Joined
- 28 May 2020
- Posts
- 6,105
- Reactions
- 11,560
The cooking show stock has an interesting announcement out.
The extension of the debt facility is good, allows them to keep going till next year.
I wait with interest to see the updated production forecast for Mt Boppy, it had better be good, as the funding of everything else is reliant on it.
I had hoped that the restart procedures would have been completed by now and it was making some ore and money.
I was puzzled by the reference to releasing a restart feasibility study and ore reserve for the Wonawinta silver deposit.
Given they had already spent money buying a larger ball rolling mill and other capex items for Wonawinta, one might have assumed that the feasibility study would have already been done.
I will send off another email to their corporate desk asking for clarification.
I expect the same response as the other emails I have sent.
Zilch.
Even with the recent rises, I am still under water by a long way on this one.
Will get out if it even gets within spitting distance of breaking even.
Woof!
Mick
PS. Ya gotta love name of the Financial Advisors to the company
BumVoir indeed!
.
The extension of the debt facility is good, allows them to keep going till next year.
I wait with interest to see the updated production forecast for Mt Boppy, it had better be good, as the funding of everything else is reliant on it.
I had hoped that the restart procedures would have been completed by now and it was making some ore and money.
I was puzzled by the reference to releasing a restart feasibility study and ore reserve for the Wonawinta silver deposit.
Given they had already spent money buying a larger ball rolling mill and other capex items for Wonawinta, one might have assumed that the feasibility study would have already been done.
I will send off another email to their corporate desk asking for clarification.
I expect the same response as the other emails I have sent.
Zilch.
Even with the recent rises, I am still under water by a long way on this one.
Will get out if it even gets within spitting distance of breaking even.
Woof!
Mick
PS. Ya gotta love name of the Financial Advisors to the company
BumVoir indeed!
.
- Joined
- 28 May 2020
- Posts
- 6,105
- Reactions
- 11,560
MKR let me down badly in the September monthly competition.
The press release yesterday was greeted by a the market with all the joy of someone getting bubonic plague.
And they had good reason.
Back on the 16th April, The MKR comms people put out a press release saying that there would be an update on the MRE for Mt Boppy gold mine, but no time frame.
Then on May 5th, they announced the 8 mill cap raise, and said they expected the Reserve statement in the June Quarter.
No announcement of the updated MRE in the June Quarter.
In August with the release of the June Quarterly, they stated they expected to announce the updated MRE within 2 weeks.
Never happened.
on August 8th, with still no MRE they announced the Mt Boppy restart.
Capex was to be 11.6 mill , with an EBITDA of 19 mill.
They were targeting the First Gold production in the Fourth Quarter of 2024.
Yesterdays announcement pushed the first gold production out to the first quarter 2025.
The CApex had now blown out to 15.5 million
EBITDA had collapsed to 4.44 mill P.a.
AISC had blown out to 1116/oz.
The MRE is now targeted to October 2024.
And still no mention of when Wonawinta Silver mine will startup again.
It was the Silver mining that caused me to buy in the first place.
The market cap is now barely 25 million, and the outstanding debt is 29.9 million.
There is supposed to be a second tranche of the cap Raise at 6 cents back in August.
Will that private equity group renege on the tranche when the SP is now languishing at half the issue price?
I doubt this entity will last till the second qtr 2025.
MKR, a company run by Charlatans for Charlatans.
Mick
The press release yesterday was greeted by a the market with all the joy of someone getting bubonic plague.
And they had good reason.
Back on the 16th April, The MKR comms people put out a press release saying that there would be an update on the MRE for Mt Boppy gold mine, but no time frame.
Then on May 5th, they announced the 8 mill cap raise, and said they expected the Reserve statement in the June Quarter.
No announcement of the updated MRE in the June Quarter.
In August with the release of the June Quarterly, they stated they expected to announce the updated MRE within 2 weeks.
Never happened.
on August 8th, with still no MRE they announced the Mt Boppy restart.
Capex was to be 11.6 mill , with an EBITDA of 19 mill.
They were targeting the First Gold production in the Fourth Quarter of 2024.
Yesterdays announcement pushed the first gold production out to the first quarter 2025.
The CApex had now blown out to 15.5 million
EBITDA had collapsed to 4.44 mill P.a.
AISC had blown out to 1116/oz.
The MRE is now targeted to October 2024.
And still no mention of when Wonawinta Silver mine will startup again.
It was the Silver mining that caused me to buy in the first place.
The market cap is now barely 25 million, and the outstanding debt is 29.9 million.
There is supposed to be a second tranche of the cap Raise at 6 cents back in August.
Will that private equity group renege on the tranche when the SP is now languishing at half the issue price?
I doubt this entity will last till the second qtr 2025.
MKR, a company run by Charlatans for Charlatans.
Mick
Sean K
Moderator
- Joined
- 21 April 2006
- Posts
- 21,917
- Reactions
- 10,772
Geez, they're all over the place with their projections and what they're delivering, even if you can trust what they say one iota.
- Joined
- 28 May 2020
- Posts
- 6,105
- Reactions
- 11,560
And since that end of month debacle where the SP fell as low as 0.029 and completely cruelled my comp winning chances, it has since bounced back with renewed vigour.
The punters must have digested the shonky non story in the 30th September presentation, and latched onto the latest output about the iron ore sands project in Nuw Zulund being given priority status by the NZ Government.
Makes me shake me head in bewilderment.
Projects that are ready to produce put on the back burner for something that has not even had an MRE done, much less a PFS.
But I can't complain, its up another twenty percent today, and I had a speccy sell bid taken out for the ones I bought at the previous lows before the comp started.
Still a dog.
Mick
The punters must have digested the shonky non story in the 30th September presentation, and latched onto the latest output about the iron ore sands project in Nuw Zulund being given priority status by the NZ Government.
Makes me shake me head in bewilderment.
Projects that are ready to produce put on the back burner for something that has not even had an MRE done, much less a PFS.
But I can't complain, its up another twenty percent today, and I had a speccy sell bid taken out for the ones I bought at the previous lows before the comp started.
Still a dog.
Mick
- Joined
- 12 January 2008
- Posts
- 7,123
- Reactions
- 17,614
It may be a dog, but it's running. Loved the EOM shakeout to get rid of the weak holders before charging higher. Classic manipulation of the market.
- Joined
- 28 May 2020
- Posts
- 6,105
- Reactions
- 11,560
Like I said, a company for charlatans run by charlatans.
Mick
- Joined
- 28 May 2020
- Posts
- 6,105
- Reactions
- 11,560
Still powering up.
Up a further 10% today.
Must run out of steam soon as the punters start to take some profits.
Mick
