Manuka Resources Clarifies Mt Boppy Ore Reserves Announcement

Manuka Resources Ltd ( (AU:MKR) ) just unveiled an announcement.

Manuka Resources Limited has clarified its announcement regarding the Mt Boppy Open Pit Ore Reserves, confirming the addition of 39,000 gold ounces to its Cobar Basin production plan. The Mt Boppy project, historically one of New South Wales’ richest gold mines, has been assessed for a cutback to access resources beneath the pit floor, resulting in a probable ore reserve of 290kt at 4.2g/t Au. The ore will be processed at Manuka’s Wonawinta Processing Plant. The project is expected to deliver a pre-tax NPV8 of A$43.2M and an IRR of 64%, enhancing Manuka’s production strategy, which now includes 47,000 ounces of gold. The company is exploring financing options to support the restart of Wonawinta.

More about Manuka Resources Ltd

Manuka Resources Limited is a mining company that owns the Wonawinta Silver Mine and Mt Boppy Gold Mine in the Cobar Basin of New South Wales. The company focuses on mining and processing silver and gold, with a production plan that includes 19.2 million ounces of silver and approximately 8,000 ounces of gold credits.

Average Trading Volume: 1,097,523

Technical Sentiment Signal: Hold

Current Market Cap: A$44.83M

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