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Manuka Resources Ltd ( (AU:MKR) ) just unveiled an update.
Manuka Resources Ltd has announced a fully underwritten entitlement offer to raise approximately A$8.0 million. The funds will be used to restart the Wonawinta processing plant, commence the Cobar Basin Production Plan, repay debt, and support general working capital. This move is expected to bolster the company’s operations and enhance its position in the precious metals market, with a target to resume silver and gold production by early 2026. The offer is backed by two investors, demonstrating confidence in Manuka’s assets and production plans.
More about Manuka Resources Ltd
Manuka Resources Ltd is a company operating in the mining industry, focusing on the production of precious metals such as silver and gold. The company is engaged in projects in the Cobar Basin and is working on restarting its Wonawinta processing plant to enhance its production capabilities.
Average Trading Volume: 1,122,540
Technical Sentiment Signal: Hold
Current Market Cap: A$36.68M
For an in-depth examination of MKR stock, go to TipRanks’ Overview page.