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happybear45

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05/08/21

13:51

Post #: 55055943
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Originally posted by goldnerd: ↑

Thanks @happybear45 for the response. I have just skimmed the Prospectus for a second time and can't find the 10 Moz @ 100 g/t anywhere. It sounds like an aspirational target for mine and the guys at Manuka would have had to have been very careful in including something like this in a prospectus. Especially if it isn't backed up by facts. Since we haven't seen it raised again since, I think we can safely assume that it remains an aspirational target. The revised resource figure doesn't come close to supporting it either. Perhaps we will see it in the feasibility study work they will presumably do in the future.

This aside I think in the right price environment they could mine at say 50 g/t and probably still make money. In the mean time the stockpiles should prove profitable.

It will be an interesting one to following going forward. Thanks again for your thoughts.

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Page 19 here.
https://www.manukaresources.com.au/site/file/20/view/ManukaResourcesIPOPresentation.pdf

• The Mineral Resource Estimate at Wonawinta was updated in
accordance with the JORC Code (2012) by Mining Associates Pty Ltd in
2016, and subsequently verified by SRK Consulting
• Additionally, stockpiles at the Wonawinta plant site measure 500kt at
an average estimated grade of 75g/t Ag
• Over 10m oz of the total 52m oz resource grades over 100g/t Ag

MKR Price at posting: 27.5¢ Sentiment: Buy Disclosure: Held
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