Mate sent me this. Looks very interesting. dyor
The plant was commissioned in March – May 2020, with June & July gold production coming in at 2,000 Oz Month and we expect production of 3,000 Oz a month going forward, where they will target 32,000 Oz of gold for the 12 mth period. The head grade is currently running at 2.7 g/t Au.
We anticipate 2 x drill rigs will be on site by the end of July and an additional rig by the end of August
MKR are currently running seismic and conducting 3D modelling to really hone in on their targets as historically Mt Boppy was the highest grade gold mine in NSW producing >500,000 Oz of Gold at 15 g/t.
Summarybelow & presentation attached.
· Manuka is Australia’s newest Gold & Silverproducer. In April of this year, Manuka started Gold production at itsWonawinta plant targeting >32,000 ounces of gold annualised, withan AISC of AS1,255. (Current A$ Gold spot is $2,245.38)
o Post completingGold production over the first year of production, Manuka will enter > 4years of Silver production
§ Based on current silver prices, Manuka expects amargin of ~A$14ozfrom the silver stockpiles and a margin of ~A$11 oz going forward (CurrentA$ Silver spot is $25.11)
· Manuka own 100% of two, fully permitted, Gold& Silver projects located in the Cobar Basin of NSW, Australia.
o the Mt Boppy(Gold project) hosts an existing open pit resource of 44,000 oz Au grading 3.13g/t (of which 31,000oz Au is in reserve status)
o the Wonawinta(Silver project) consisting of mine, >850tpa plant and substantialneighbouring tenements which hosts a resource of 52M oz Ag (JORC resource 42g/t).
· Manuka hassuccessfully re-commissioned the Wonawinta mill using a combination of debt andequity
o Total currentdebt of A$24.5 million
o The Company isnow processing ore and is able to reduce its debt in entirety fromoperating cash flow
o Manuka isbudgeting to be debt free in less than 12 months
· The total tenure package consists of over 1,126 km2and has vast underexplored potential
· Funds raised from the IPO will be primarily used forexploration drilling
o Significantexploration potential
§ Mt Boppy (Gold) Historically produced >500,000 ozAu @ 15 g/t;
§ Scant historical drilling below 120 metres deep; and
§ Wonawinta (Silver) has never been drilled below 100metres in depth
· Post thesuccessful listing on the ASX, the company will run multiple drill rigs growingboth the existing resources / LOM at both projects but also drilling outseveral already identified targets
o Manuka will have steady newsflow surroundingproduction and exploration activity post listing
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