Ann: Manuka Debt Facility Refinancing and Silver Production updat, page-11

Manuka has a truckload of value tied up in its tiny market cap of 106 million.

Strategic value of processing plant
The Wonawinta processing facility has an 850ktpa nameplate processing capacity (with upside), is fully refurbished and is capable of processing both gold and silver ores. The processing facility’s original construction cost was A$120m and it would likely cost A$200m to construct today. The processing facility may at times have excess capacity and has strategic value in potentially toll treating ores from third-party mines. Whilst the plant is currently configured as a leach plant, its generous footprint should assist any future modification, such as the addition of flotation capability for sulphide ore types.

Throw in a couple of fully functional mining camps.
A bit of gold in one mine and a bit of silver in another.

Worth $1 all day long.

In My Humble Opinion (IMHO)