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Manuka Resources Ltd (AU:MKR)
ASX:MKR

Manuka Resources Ltd (MKR) AI Stock Analysis

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AU:MKR

Manuka Resources Ltd

(Sydney:MKR)

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Neutral 44 (OpenAI - 5.2)
Rating:44Neutral
Price Target:
AU$0.14
â–²(41.00% Upside)
Action:ReiteratedDate:02/07/26
The score is weighed down primarily by very poor financial performance (losses, revenue falling to zero, negative operating cash flow, and sharply higher leverage). Technicals are mixed with some longer-term trend improvement but weak near-term momentum, while valuation offers limited support due to negative earnings and no dividend yield data.
Positive Factors
Integrated precious‑metals business model
Owning both mining and processing capabilities creates a durable business model: it allows capture of processing margins, operational control across the value chain, and optionality to restart or scale production. Exposure to silver and gold supports long‑term demand fundamentals for miners.
Stable asset base
A relatively stable asset base provides tangible collateral and operational capacity that management can leverage to reconstitute production or negotiate financing. Stable assets improve recovery prospects and support restructuring or asset sale options if needed.
Demonstrated ability to be profitable historically
Historical profitability in FY2022 shows the business model can generate positive margins when operations and commodity prices align. This track record provides a realistic operational blueprint and investor confidence that profitability can be restored with resumed production or better cost control.
Negative Factors
Extremely high leverage
Debt-to-equity near 18x severely constrains financial flexibility: servicing obligations, funding exploration or restart capex, and raising new capital become far more difficult. The capital structure elevates solvency and refinancing risk over the medium term.
Persistent negative cash generation
Sustained negative operating and free cash flow indicates the core business does not generate internal funds to cover operations or investment. That forces reliance on external funding or asset disposals and undermines the company's ability to sustain or grow operations without structural financing changes.
Revenue collapsed to zero
A complete collapse of revenue signals a major operational disruption or shutdown, removing visibility on future earnings and severing the primary cash generation mechanism. Recovery will likely require significant time, capital, and operational fixes, creating substantial execution risk.

Manuka Resources Ltd (MKR) vs. iShares MSCI Australia ETF (EWA)

Manuka Resources Ltd Business Overview & Revenue Model

Company DescriptionManuka Resources Limited engages in the exploration and development of gold and silver properties. It operates in two segments, Exploration and Operations. The company holds interest in the Mt Boppy gold project, which comprises 3 granted mining leases, 4 gold leases, and one exploration license covering an area approximately 210 square kilometers located in east of Cobar in the Central West region of New South Wales; and the Wonawinta silver project located in the east of Cobar Basin. Manuka Resources Limited was incorporated in 2016 and is based in Sydney, Australia.
How the Company Makes MoneyManuka Resources Ltd generates revenue through the extraction and sale of precious metals, primarily gold and silver. The company operates its mining sites, where it extracts ore that contains these valuable metals. The extracted ore is processed to separate the gold and silver, which are then sold in the open market. The company's revenue streams are largely dependent on the market prices of gold and silver, as well as its operational efficiency and production volumes. Manuka Resources may also engage in partnerships or joint ventures to enhance its exploration and production capabilities, which can contribute to its earnings.

Manuka Resources Ltd Financial Statement Overview

Summary
Financial quality is very weak: profitability reversed from FY2022 to deep losses in FY2023–FY2025, revenue declined sharply and reached zero in FY2025, operating cash flow remains negative, and leverage has surged (debt-to-equity ~17.7x in FY2025) as equity eroded—raising solvency and funding risk.
Income Statement
8
Very Negative
Profitability has deteriorated sharply: the company moved from solid profitability in FY2022 (positive gross profit, EBIT, and net income) to deep losses in FY2023–FY2025. Revenue also collapsed to zero in FY2025 after already declining in FY2023, indicating a major operational disruption. Margins are consistently negative in FY2023–FY2024, and the latest year shows losses despite no revenue, which materially weakens earnings quality and visibility.
Balance Sheet
12
Very Negative
Leverage has risen to a very high level, with debt-to-equity expanding from ~1.3–1.7x in FY2023–FY2024 to ~17.7x in FY2025 as equity shrank materially. While total assets remain relatively stable, the combination of heavy debt and very low equity leaves little cushion against ongoing losses. Return on equity is strongly negative in recent years, reinforcing that the balance sheet is under significant strain.
Cash Flow
10
Very Negative
Cash generation is weak: operating cash flow is negative in FY2023–FY2025, and free cash flow is negative in every year provided, including the profitable FY2022 period (suggesting cash spending exceeded operating inflows). Although FY2025 free cash flow improved versus FY2024, it remains meaningfully negative, indicating continued reliance on external funding or balance sheet capacity to sustain operations.
BreakdownJun 2025Jun 2024Jun 2023Jun 2022Jun 2021
Income Statement
Total Revenue0.0015.20M9.90M53.27M43.75M
Gross Profit-655.77K-6.74M-15.46M12.03M439.68K
EBITDA-6.38M-9.42M-20.75M11.35M6.07M
Net Income-16.88M-18.23M-26.34M5.28M-2.90M
Balance Sheet
Total Assets59.40M61.14M61.51M41.60M35.25M
Cash, Cash Equivalents and Short-Term Investments968.64K2.13M265.83K1.35M1.02M
Total Debt40.72M28.53M25.04M13.50M16.70M
Total Liabilities57.10M44.13M41.56M28.02M33.06M
Stockholders Equity2.30M17.01M19.94M13.57M2.18M
Cash Flow
Free Cash Flow-5.46M-8.65M-15.79M-527.43K-7.66M
Operating Cash Flow-5.20M-7.23M-14.52M8.35M207.79K
Investing Cash Flow-84.99K-1.33M-1.21M-8.56M-8.03M
Financing Cash Flow4.13M10.42M14.83M352.54K7.33M

Manuka Resources Ltd Technical Analysis

Technical Analysis Sentiment
Positive
Last Price0.10
Price Trends
50DMA
0.14
Positive
100DMA
0.10
Positive
200DMA
0.07
Positive
Market Momentum
MACD
>-0.01
Negative
RSI
49.32
Neutral
STOCH
80.42
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:MKR, the sentiment is Positive. The current price of 0.1 is below the 20-day moving average (MA) of 0.14, below the 50-day MA of 0.14, and above the 200-day MA of 0.07, indicating a bullish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 49.32 is Neutral, neither overbought nor oversold. The STOCH value of 80.42 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:MKR.

Manuka Resources Ltd Peers Comparison

Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
61
Neutral
$10.43B7.12-0.05%2.87%2.86%-36.73%
56
Neutral
AU$140.30M-3.13――-22.17%-274.86%
51
Neutral
AU$46.67M-4.97-17.78%―――
49
Neutral
AU$700.72M-109.52-21.63%――86.21%
48
Neutral
AU$35.88M-18.95-12.26%――26.92%
46
Neutral
AU$191.33M-54.34-31.71%―――
44
Neutral
AU$213.38M-7.04-174.83%―-100.00%24.82%
* Basic Materials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
AU:MKR
Manuka Resources Ltd
0.15
0.12
437.04%
AU:AGD
Austral Gold
0.21
0.16
356.52%
AU:MM1
Midas Minerals Limited
0.94
0.81
623.08%
AU:GSN
Great Southern Mining Limited
0.04
0.01
56.52%
AU:FRS
Forrestania Resources Limited
0.69
0.67
3350.00%
AU:M79
Firetail Resources Limited
0.08
0.02
27.69%

Manuka Resources Ltd Corporate Events

Manuka Resources issues new shares on option exercise to support routine capital management
Mar 2, 2026

Manuka Resources has issued 5,907,390 fully paid ordinary shares following the exercise of an equivalent number of options at $0.06, ahead of their May 2026 expiry, thereby modestly increasing its share capital base. The company stated that the shares were issued without a prospectus under the Corporations Act, confirmed compliance with its continuous disclosure and reporting obligations, and issued the notice to facilitate the unrestricted resale of the new shares, signalling routine capital management rather than a change in strategic direction.

Manuka also affirmed there is no excluded or additional material information that investors would reasonably require to assess the company or the rights attached to the new shares, which is intended to provide comfort to the market about transparency. This positions the share issue as a standard administrative step within existing regulatory frameworks, with limited immediate operational or strategic impact but incremental capital raised from the exercised options.

The most recent analyst rating on (AU:MKR) stock is a Hold with a A$0.14 price target. To see the full list of analyst forecasts on Manuka Resources Ltd stock, see the AU:MKR Stock Forecast page.

Manuka Resources Lists Additional Shares on ASX After Option Conversions
Mar 2, 2026

Manuka Resources Ltd has applied for quotation on the ASX of 5,907,390 new ordinary fully paid shares under its code MKR, with an issue date of 27 February 2026. The new securities arise from the exercise or conversion of existing options or other convertible instruments, modestly expanding the company’s listed share base and potentially providing additional capital to support its resource development activities.

This incremental increase in quoted securities reflects continuing shareholder participation in Manuka’s equity-linked instruments and signals ongoing engagement with the company’s capital structure. While the scale of the issuance is relatively limited, it slightly dilutes existing holdings but may strengthen the balance sheet, offering additional financial flexibility for future operational or exploration initiatives.

The most recent analyst rating on (AU:MKR) stock is a Hold with a A$0.14 price target. To see the full list of analyst forecasts on Manuka Resources Ltd stock, see the AU:MKR Stock Forecast page.

Manuka Resources Bolsters Governance with New Joint Company Secretary
Mar 2, 2026

Manuka Resources has strengthened its governance and compliance framework with the appointment of Alex Sutton as Joint Company Secretary, effective 2 March 2026. Sutton brings 15 years of mining industry and market research experience, including four years at the ASX advising listed companies on Listing Rules and JORC Code obligations, positioning him as a specialist resource for regulatory and disclosure matters.

Under ASX Listing Rule 12.6, Sutton will join existing Joint Company Secretary Eryn Kestel as a primary contact for communications with the ASX on listing rule issues. The move underscores Manuka Resources’ emphasis on regulatory compliance and may improve its interface with the exchange, potentially supporting smoother disclosure processes and stronger corporate governance for investors and other stakeholders.

The most recent analyst rating on (AU:MKR) stock is a Hold with a A$0.14 price target. To see the full list of analyst forecasts on Manuka Resources Ltd stock, see the AU:MKR Stock Forecast page.

Manuka Resources Issues 36.4 Million Unquoted Four-Year Warrants
Mar 2, 2026

Manuka Resources has notified the market of the issuance of 36,423,612 unquoted warrants, each expiring four years from their issue date of 27 February 2026. The new warrants, which constitute a separate class of unquoted equity securities, reflect the company’s ongoing use of structured equity instruments to fund its operations and potentially broaden its investor base over the medium term.

The most recent analyst rating on (AU:MKR) stock is a Hold with a A$0.14 price target. To see the full list of analyst forecasts on Manuka Resources Ltd stock, see the AU:MKR Stock Forecast page.

Manuka Resources Secures US$30m Nebari Facility to Fund Silver and Gold Restart
Mar 2, 2026

Manuka Resources has secured a US$30 million senior secured term loan facility from U.S. fund Nebari Natural Resources Credit Fund II to refinance its existing debt and fund the Wonawinta silver and Canbelego gold projects. Tranche 1 has been drawn, fully repaying a prior A$19 million facility, and the company says it is now fully funded through to a return to production.

The four-year facility, secured over all company assets, is structured with interest paid monthly and principal repayments starting after 18 months, and includes Tranche 1 and forthcoming Tranche 2 warrants issued to Nebari as equity-linked sweeteners. Management says the financing is the final step to restart operations and regain status as Australia’s largest primary silver producer, while Nebari has expressed confidence in the quality of Manuka’s assets and its ability to execute the restart plan.

The most recent analyst rating on (AU:MKR) stock is a Hold with a A$0.14 price target. To see the full list of analyst forecasts on Manuka Resources Ltd stock, see the AU:MKR Stock Forecast page.

Manuka Resources Halts Trading as It Finalises Material Nebari Debt Facility
Feb 27, 2026

Manuka Resources Ltd has requested a trading halt on its securities on the ASX and NZX as it finalises a material debt facility with Nebari, a funding arrangement first disclosed in December 2025. Trading in MKR shares will remain halted until either the announcement on the debt facility is released or normal trading resumes on 3 March 2026, signaling that a potentially significant financing milestone is imminent for the company and its stakeholders.

The company has indicated it expects the forthcoming debt facility announcement to end the halt and has stated it is unaware of any reasons the halt should not be granted or of any additional information needed to inform the market. The move underscores the importance of the Nebari facility to Manuka’s capital structure and may influence investor perceptions of its funding stability and capacity to advance its projects.

The most recent analyst rating on (AU:MKR) stock is a Hold with a A$0.14 price target. To see the full list of analyst forecasts on Manuka Resources Ltd stock, see the AU:MKR Stock Forecast page.

Manuka Resources Issues New Shares Following Option Exercises
Feb 9, 2026

Manuka Resources has issued 5,666,666 fully paid ordinary shares following the exercise of options with strike prices of $0.06 and $0.10 and expiries in May 2026 and August 2028, respectively. The shares were issued without a prospectus under the Corporations Act provisions, reflecting routine capital structure adjustments through option conversion.

The company has confirmed compliance with its financial reporting and continuous disclosure obligations under the Corporations Act and stated there is no excluded or additional information required for investors to assess the company or the rights attached to the new shares. This notice enables the on-sale of the newly issued shares, ensuring they can be freely traded on the market, which may modestly increase liquidity for existing and new shareholders.

The most recent analyst rating on (AU:MKR) stock is a Hold with a A$0.13 price target. To see the full list of analyst forecasts on Manuka Resources Ltd stock, see the AU:MKR Stock Forecast page.

Manuka Resources Seeks ASX Quotation for 5.7 Million New Shares
Feb 9, 2026

Manuka Resources has applied to the ASX for quotation of 5,666,666 new fully paid ordinary shares, issued on 6 February 2026 under the company’s existing capital structure. The additional MKR securities, created via the exercise or conversion of existing instruments, will expand the company’s free float and may modestly enhance liquidity for investors once trading begins.

The most recent analyst rating on (AU:MKR) stock is a Hold with a A$0.13 price target. To see the full list of analyst forecasts on Manuka Resources Ltd stock, see the AU:MKR Stock Forecast page.

Manuka Faces Draft Rejection of Taranaki VTM Project but Cobar Refinancing Unchanged
Feb 5, 2026

Manuka Resources has disclosed that its New Zealand subsidiary Trans-Tasman Resources has received a draft decision from an expert panel under the New Zealand Fast-track Approvals Act 2024 indicating an intention to decline environmental consents for the Taranaki VTM iron sands harvesting project off the Taranaki coast. The company expressed disappointment, arguing that the panel’s concerns were addressed with extensive expert evidence, and highlighted that the project could have delivered substantial regional economic growth, jobs, and positioned New Zealand as a major Western supplier of critical minerals such as vanadium, with implications for the government’s goal of doubling mineral exports by 2035. Manuka said TTR will review the draft decision and consider next steps before the 19 February comment deadline, and clarified that the draft outcome does not affect the planned refinancing of its Cobar silver and gold mining projects with Nebari Natural Resources Credit Fund, which is expected to complete around 20 February 2026.

The most recent analyst rating on (AU:MKR) stock is a Hold with a A$0.17 price target. To see the full list of analyst forecasts on Manuka Resources Ltd stock, see the AU:MKR Stock Forecast page.

Manuka Resources Confirms Option Exercise Share Issue
Feb 4, 2026

The company issued 3,315,808 new ordinary shares after the same number of options were exercised at $0.06, and it confirmed compliance with disclosure obligations to facilitate unrestricted resale of the stock. The move signals additional capital inflow from option holders and maintains transparency for investors, though it does not introduce new operational guidance or materially alter the firm’s outlook.

The most recent analyst rating on (AU:MKR) stock is a Hold with a A$0.17 price target. To see the full list of analyst forecasts on Manuka Resources Ltd stock, see the AU:MKR Stock Forecast page.

Manuka Resources Lists 3.3 Million New Shares on ASX
Feb 4, 2026

The company lodged an Appendix 2A detailing the quotation of 3,315,808 fully paid ordinary shares issued on 3 February 2026, indicating capital inflow tied to exercised options or convertible securities now entering the market; the listing bolsters tradable equity and may enhance liquidity as Manuka continues positioning its mining portfolio.

The most recent analyst rating on (AU:MKR) stock is a Hold with a A$0.17 price target. To see the full list of analyst forecasts on Manuka Resources Ltd stock, see the AU:MKR Stock Forecast page.

Manuka Resources Boosts Cobar Project Economics Ahead of 2026 Production Start
Feb 2, 2026

Manuka Resources has provided an updated pre-feasibility study for its Cobar Basin project, indicating a substantial uplift in projected profit and net present value, with production targeted to commence in the June quarter of 2026 on an unhedged basis. The release underscores improved project economics and a clearer timeline to near-term production, signalling potential value uplift for investors and a stronger competitive position in the precious metals and critical minerals space as the company advances toward becoming a cash-generating producer.

The most recent analyst rating on (AU:MKR) stock is a Hold with a A$0.22 price target. To see the full list of analyst forecasts on Manuka Resources Ltd stock, see the AU:MKR Stock Forecast page.

Manuka Resources Secures Funding for Cobar Restart as NZ VTM Project Nears Key Approval
Jan 30, 2026

Manuka Resources has secured key funding and technical milestones to restart production at its Wonawinta silver and Mt Boppy gold projects, executing a US$22.5 million restart loan term sheet with Nebari and completing a A$15 million capital raising to fund exploration, plant upgrades and working capital. Technical due diligence on both projects has been satisfied, an updated Cobar Basin prefeasibility study points to robust project economics, and site activities remain focused on bringing silver and gold production back online by late second quarter 2026, positioning the company to capitalise on exceptionally strong silver and gold prices amid persistent global silver supply deficits. In New Zealand, its Trans-Tasman Resources subsidiary continues to progress the fast-track approval of the nationally significant Taranaki VTM Project, with an expert panel holding extensive workshops on environmental, cultural, legal and economic issues ahead of a scheduled March 2026 decision on environmental consents, a ruling that could underpin a major uplift in New Zealand’s mineral export earnings and elevate Manuka’s regional strategic importance.

The most recent analyst rating on (AU:MKR) stock is a Hold with a A$0.22 price target. To see the full list of analyst forecasts on Manuka Resources Ltd stock, see the AU:MKR Stock Forecast page.

Manuka Resources Lifts Cobar Basin Project Economics in Updated PFS
Jan 30, 2026

Manuka Resources has released an updated pre-feasibility study for its Cobar Basin operations, outlining a 10-year mine plan to produce 13.2 million ounces of silver and 35,000 ounces of gold from existing stockpiles and open pits at Wonawinta and Mt Boppy. The study projects a post-tax NPV8 of A$805 million, an exceptionally high IRR, and average annual EBITDA of A$127 million at low C1 costs, underpinned by 10.9Mt of ore from current reserves and resources. With pre-production capital estimated at A$26.6 million, the company says it is effectively fully funded to first production following a recent A$15 million equity raise and near-finalisation of a US$22.5 million debt facility with Nebari Natural Resources Credit Fund. The Wonawinta plant is scheduled to return to production in the first half of 2026, and Manuka highlights the plant’s strategic position within trucking distance of multiple high-grade deposits in the Cobar Basin, as well as ongoing drilling at Mt Boppy targeting high-grade extensions, positioning the company to benefit from current and potential upside in silver and gold prices.

The most recent analyst rating on (AU:MKR) stock is a Hold with a A$0.22 price target. To see the full list of analyst forecasts on Manuka Resources Ltd stock, see the AU:MKR Stock Forecast page.

Manuka Resources Issues New Shares Following Option Exercises
Jan 29, 2026

Manuka Resources Limited has issued 8,633,333 fully paid ordinary shares following the exercise of previously issued options at strike prices of $0.06 and $0.0411, with expiries in May and June 2026 respectively. The company confirmed that these shares were issued without a prospectus under the Corporations Act disclosure exemptions, stated it is compliant with its financial reporting and continuous disclosure obligations, and noted that this notice is intended to facilitate the resale of the new shares, signalling a modest expansion of its share capital and potential increase in market liquidity for existing and new investors.

The most recent analyst rating on (AU:MKR) stock is a Hold with a A$0.22 price target. To see the full list of analyst forecasts on Manuka Resources Ltd stock, see the AU:MKR Stock Forecast page.

Manuka Resources Seeks ASX Quotation for 8.63 Million New Shares
Jan 29, 2026

Manuka Resources Ltd has applied to the ASX for quotation of 8,633,333 new ordinary fully paid shares, to be traded under the code MKR. The securities, issued on 27 January 2026 following the exercise or conversion of existing options or other convertible instruments, will expand the company’s quoted share base and may modestly affect capital structure and liquidity for existing shareholders once admitted to trading.

The most recent analyst rating on (AU:MKR) stock is a Hold with a A$0.22 price target. To see the full list of analyst forecasts on Manuka Resources Ltd stock, see the AU:MKR Stock Forecast page.

Manuka Resources Issues Over 11 Million Shares on Option Exercise
Jan 27, 2026

Manuka Resources Limited has issued 11,035,142 fully paid ordinary shares following the exercise of options priced at $0.06 and expiring on 15 May 2026, increasing its share capital without undertaking a formal disclosure under Part 6D.2 of the Corporations Act. The company has confirmed it is compliant with its continuous disclosure and financial reporting obligations, stated that there is no excluded or additional information required for investors to assess the company or the rights attaching to the new shares, and has lodged this notice to facilitate the unrestricted resale of these shares in the secondary market.

The most recent analyst rating on (AU:MKR) stock is a Hold with a A$0.22 price target. To see the full list of analyst forecasts on Manuka Resources Ltd stock, see the AU:MKR Stock Forecast page.

Manuka Resources Seeks ASX Quotation for 11 Million New Shares
Jan 27, 2026

Manuka Resources Ltd has applied to the ASX for quotation of 11,035,142 new fully paid ordinary shares under its ticker MKR, following the conversion or exercise of existing options or other convertible securities. The shares, issued on 23 January 2026, will expand the company’s quoted capital base, potentially affecting its capital structure and liquidity profile for existing and prospective investors once admitted to trading.

The most recent analyst rating on (AU:MKR) stock is a Hold with a A$0.22 price target. To see the full list of analyst forecasts on Manuka Resources Ltd stock, see the AU:MKR Stock Forecast page.

Manuka Clears Technical Hurdle on US$22.5m Nebari Loan to Fund Silver and Gold Restart
Jan 26, 2026

Manuka Resources has cleared a key milestone in its restart financing, with Nebari Natural Resources Credit Fund II LP completing technical due diligence on the company’s Wonawinta silver and Mt Boppy gold projects for a proposed US$22.5 million senior secured loan facility. Legal due diligence and final documentation are now under way, with signing of definitive agreements targeted around 20 February 2026, and, alongside a recent A$15 million capital raising, the funding package is expected to fully finance Manuka through to first silver production at Wonawinta in the June 2026 quarter, support partial repayment of existing debt and bolster working capital, underpinning a planned rapid move to cashflow-positive operations in a high gold and silver price environment.

The most recent analyst rating on (AU:MKR) stock is a Hold with a A$0.22 price target. To see the full list of analyst forecasts on Manuka Resources Ltd stock, see the AU:MKR Stock Forecast page.

Manuka Resources Issues 5.14 Million New Shares Following Option Exercise
Jan 20, 2026

Manuka Resources has issued 5,140,000 fully paid ordinary shares following the exercise of options priced at $0.06 and expiring on 15 May 2026, increasing its share capital without providing a prospectus or other disclosure document. The company has confirmed its compliance with key financial reporting and continuous disclosure obligations, stated that there is no excluded or additional information required for investors to assess the company or the rights attached to the new shares, and made this notice to facilitate the unrestricted resale of these shares on the secondary market.

The most recent analyst rating on (AU:MKR) stock is a Hold with a A$0.17 price target. To see the full list of analyst forecasts on Manuka Resources Ltd stock, see the AU:MKR Stock Forecast page.

Manuka Resources Seeks ASX Quotation for 5.14 Million New Shares
Jan 20, 2026

Manuka Resources Ltd has applied to the ASX for quotation of 5,140,000 new fully paid ordinary shares under its ticker MKR, with an issue date of 20 January 2026. The additional share quotation will expand the company’s listed capital base, potentially affecting its liquidity and ownership structure, though the announcement does not specify the purpose of the new securities or any associated strategic initiatives for existing shareholders or new investors.

The most recent analyst rating on (AU:MKR) stock is a Hold with a A$0.17 price target. To see the full list of analyst forecasts on Manuka Resources Ltd stock, see the AU:MKR Stock Forecast page.

Manuka Resources Issues 5 Million New Shares Following Option Exercise
Jan 19, 2026

Manuka Resources Limited has issued 5,000,000 fully paid ordinary shares following the exercise of options priced at A$0.06, expiring on 15 May 2026, and has done so without a disclosure document under the relevant capital-raising provisions of the Corporations Act. The company confirmed it is compliant with financial reporting and continuous disclosure obligations, stated there is no excluded or additional material information required for investors to assess the company or the rights attached to the new shares, and noted that this notice is intended to facilitate the unrestricted resale of the newly issued shares.

The most recent analyst rating on (AU:MKR) stock is a Hold with a A$0.17 price target. To see the full list of analyst forecasts on Manuka Resources Ltd stock, see the AU:MKR Stock Forecast page.

Manuka Resources Seeks ASX Quotation for 5 Million New Shares
Jan 19, 2026

Manuka Resources Ltd has applied to the ASX for quotation of 5,000,000 new fully paid ordinary shares (ASX code: MKR), issued on 16 January 2026. The additional shares, arising from the exercise or conversion of existing options or other convertible securities, will expand the company’s quoted capital base and may provide increased liquidity for shareholders once admitted to trading, though no further operational or strategic details were disclosed in the filing.

The most recent analyst rating on (AU:MKR) stock is a Hold with a A$0.17 price target. To see the full list of analyst forecasts on Manuka Resources Ltd stock, see the AU:MKR Stock Forecast page.

Manuka Resources Issues 7.5 Million New Shares on Option Exercise
Jan 15, 2026

Manuka Resources has issued 7,500,001 fully paid ordinary shares following the exercise of options priced at $0.06 and expiring on 15 May 2026, expanding its share capital without providing a prospectus under the disclosure exemptions of the Corporations Act. The company confirmed it is compliant with its continuous disclosure and financial reporting obligations, stated there is no excluded or additional material information required for investors to assess the company or the rights attached to the new shares, and noted that this notice facilitates the resale of the newly issued securities.

The most recent analyst rating on (AU:MKR) stock is a Hold with a A$0.16 price target. To see the full list of analyst forecasts on Manuka Resources Ltd stock, see the AU:MKR Stock Forecast page.

Manuka Resources Seeks ASX Quotation for 7.5 Million New Shares
Jan 15, 2026

Manuka Resources Ltd has applied to the ASX for quotation of 7,500,001 new ordinary fully paid shares, issued on 14 January 2026 under its code MKR. The additional securities arise from the exercise or conversion of existing options or other convertible instruments, modestly expanding the company’s listed share capital and potentially improving liquidity for shareholders.

The most recent analyst rating on (AU:MKR) stock is a Hold with a A$0.16 price target. To see the full list of analyst forecasts on Manuka Resources Ltd stock, see the AU:MKR Stock Forecast page.

Manuka Resources Issues 6.35 Million New Shares Following Option Exercises
Jan 12, 2026

Manuka Resources Limited has issued 6,350,000 fully paid ordinary shares following the exercise of 4,000,000 options at $0.0834 expiring on 24 January 2026 and 2,350,000 options at $0.06 expiring on 15 May 2026. The shares were issued without a prospectus under the Corporations Act, and the company has certified that it is compliant with financial reporting and continuous disclosure obligations, and that there is no excluded or additional information required for investors to assess the company or the rights attached to the new shares; this notice enables the resale of the newly issued shares on the secondary market, modestly expanding the company’s equity base.

The most recent analyst rating on (AU:MKR) stock is a Hold with a A$0.13 price target. To see the full list of analyst forecasts on Manuka Resources Ltd stock, see the AU:MKR Stock Forecast page.

Manuka Resources Seeks ASX Quotation for 6.35 Million New Shares
Jan 12, 2026

Manuka Resources Ltd has applied to the ASX for quotation of 6,350,000 additional ordinary fully paid shares under the code MKR, with an issue date of 12 January 2026. The new securities, arising from the exercise or conversion of existing options or other convertible instruments, will expand the company’s quoted share capital, potentially affecting its capital structure and liquidity for shareholders and investors.

The most recent analyst rating on (AU:MKR) stock is a Hold with a A$0.13 price target. To see the full list of analyst forecasts on Manuka Resources Ltd stock, see the AU:MKR Stock Forecast page.

Manuka Resources Withdraws Updated Forecasts After ASX Pushback on Price Assumptions
Jan 8, 2026

Manuka Resources has retracted updated forecast financial information contained in a recent investor presentation after the ASX advised that the new projections relied on materially higher gold and silver price assumptions without an accompanying updated scoping study. The company clarified that its previously released scoping study and Production Plan financial forecasts, based on lower commodity price assumptions, remain current and unchanged, and urged investors not to rely on the retracted figures while it works towards issuing a new scoping study that will incorporate revised price assumptions in compliance with listing rules.

The most recent analyst rating on (AU:MKR) stock is a Hold with a A$0.10 price target. To see the full list of analyst forecasts on Manuka Resources Ltd stock, see the AU:MKR Stock Forecast page.

Manuka Resources Issues New Shares Following Option Exercises
Jan 7, 2026

Manuka Resources has issued 3,195,011 fully paid ordinary shares following the exercise of options priced at $0.06 and expiring on 15 May 2026, increasing its share capital without issuing a new disclosure document. The company confirmed it remains compliant with its financial reporting and continuous disclosure obligations and stated there is no additional material information required for investors, enabling these new shares to be freely resold and modestly strengthening Manuka’s capital base without signaling any change to its underlying operations or strategy.

The most recent analyst rating on (AU:MKR) stock is a Hold with a A$0.10 price target. To see the full list of analyst forecasts on Manuka Resources Ltd stock, see the AU:MKR Stock Forecast page.

Manuka Resources Seeks ASX Quotation for 3.2 Million New Shares
Jan 7, 2026

Manuka Resources Ltd has applied to the ASX for quotation of 3,195,011 new fully paid ordinary shares under the code MKR, following the exercise or conversion of existing options or other convertible securities. The issuance, dated 7 January 2026, modestly increases the company’s quoted share capital, signaling ongoing capital management and potentially providing additional funding flexibility for its operations and projects, though no further operational or strategic details were disclosed in the filing.

The most recent analyst rating on (AU:MKR) stock is a Hold with a A$0.10 price target. To see the full list of analyst forecasts on Manuka Resources Ltd stock, see the AU:MKR Stock Forecast page.

Manuka Resources Issues 1 Million New Shares on Option Conversion
Jan 7, 2026

Manuka Resources has issued 1,000,000 new ordinary shares following the exercise of an equal number of unquoted options priced at $0.0834 and expiring on 24 January 2026, thereby modestly increasing its share capital. The company has confirmed that these shares were issued without a prospectus under the Corporations Act disclosure exemptions and has attested to its ongoing compliance with financial reporting and continuous disclosure obligations, paving the way for potential resale of the new shares and signalling adherence to regulatory standards important for investors and the market.

The most recent analyst rating on (AU:MKR) stock is a Hold with a A$0.10 price target. To see the full list of analyst forecasts on Manuka Resources Ltd stock, see the AU:MKR Stock Forecast page.

Manuka Resources Seeks ASX Quotation for 1 Million New Shares
Jan 7, 2026

Manuka Resources Ltd has applied to the ASX for quotation of 1,000,000 new ordinary fully paid shares, to be traded under its existing ticker MKR. The additional securities, issued on 6 January 2026 following the exercise or conversion of existing options or other convertible securities, modestly increase the company’s quoted share capital and may slightly enhance liquidity for shareholders, though the announcement contains no further operational or strategic detail.

The most recent analyst rating on (AU:MKR) stock is a Hold with a A$0.10 price target. To see the full list of analyst forecasts on Manuka Resources Ltd stock, see the AU:MKR Stock Forecast page.

Manuka Resources Confirms Unhedged Gold and Silver Production Start for Q2 2026
Jan 6, 2026

Manuka Resources has reiterated its timetable to commence fully unhedged gold and silver production in the second quarter of 2026, following an update to its commodity price assumptions. The company’s move toward near-term precious metals output, without hedging, underscores its leveraged exposure to market prices and signals a key operational step that could materially influence its revenue profile and strategic positioning across both its Australian precious metals and New Zealand critical minerals portfolios.

The most recent analyst rating on (AU:MKR) stock is a Hold with a A$0.10 price target. To see the full list of analyst forecasts on Manuka Resources Ltd stock, see the AU:MKR Stock Forecast page.

Manuka Resources appoints operations chief ahead of Wonawinta silver restart
Jan 6, 2026

Manuka Resources has appointed experienced mining executive Rod Griffith as executive general manager of operations to oversee its Wonawinta silver project and Mt Boppy gold project, ahead of planned silver and gold production from Wonawinta in the second quarter of 2026. Griffith will lead the plant upgrade and production restart at Wonawinta, supporting the company’s previously announced 10-year mine plan to produce 13.2 million ounces of silver at an average cost of A$35 per ounce, with Manuka’s unhedged exposure to gold and silver prices positioning it to benefit directly from current market levels.

The most recent analyst rating on (AU:MKR) stock is a Hold with a A$0.10 price target. To see the full list of analyst forecasts on Manuka Resources Ltd stock, see the AU:MKR Stock Forecast page.

Manuka Resources Options Lapse as 25.8 Million MKRAW Securities Expire Unexercised
Jan 2, 2026

Manuka Resources Ltd has announced the expiry and cessation of 25,757,575 listed options (MKRAW) that were due to expire on 31 December 2025 with an exercise price of $0.10, which lapsed without being exercised. The expiry reduces the company’s pool of potential future equity from these instruments, slightly simplifying its capital structure but also indicating that prevailing market conditions did not support conversion at the set exercise price.

The most recent analyst rating on (AU:MKR) stock is a Hold with a A$0.07 price target. To see the full list of analyst forecasts on Manuka Resources Ltd stock, see the AU:MKR Stock Forecast page.

Manuka Resources Issues New Shares Under Disclosure Exemption
Dec 19, 2025

Manuka Resources Limited has issued 6,140,921 fully paid ordinary shares at an issue price of A$0.075 per share, without a prospectus, relying on disclosure exemptions under the Corporations Act 2001. The company states it is in compliance with its financial reporting and continuous disclosure obligations, and confirms there is no additional material information required for investors to make an informed assessment of the company or the rights attached to the new securities, thereby facilitating potential resale of these shares under the relevant legislative provisions.

The most recent analyst rating on (AU:MKR) stock is a Hold with a A$0.07 price target. To see the full list of analyst forecasts on Manuka Resources Ltd stock, see the AU:MKR Stock Forecast page.

Manuka Resources Issues 6.1 Million New Shares Under ASX Placement Capacity
Dec 19, 2025

Manuka Resources Ltd has issued 6,140,921 new fully paid ordinary shares under its placement capacity pursuant to ASX Listing Rule 7.1, following a placement to a non-related party investor. The new shares, to be quoted on the ASX under code MKR from 19 December 2025, expand the company’s quoted capital base and provide additional funding, which may support its ongoing corporate and operational activities and potentially influence its capital structure and shareholder dilution.

The most recent analyst rating on (AU:MKR) stock is a Hold with a A$0.07 price target. To see the full list of analyst forecasts on Manuka Resources Ltd stock, see the AU:MKR Stock Forecast page.

Manuka Resources Boosts Director’s Equity Exposure With New Incentive Options
Dec 18, 2025

Manuka Resources Ltd has reported a change in the interests of director Dennis Karp, following the issue of 20 million unlisted incentive options to his associated entity, Soothgrove Pty Ltd. The options, exercisable at $0.15 and expiring on 16 December 2027, were granted under the company’s incentive plan as approved by shareholders at the 2025 annual general meeting and were issued for nil consideration. As a result of this grant, Karp’s total relevant interest in Manuka Resources now comprises 80,212,789 equity securities, including his existing ordinary shares and the newly issued options, further increasing his exposure to the company’s future equity performance and reinforcing the alignment between board incentives and shareholder outcomes.

The most recent analyst rating on (AU:MKR) stock is a Hold with a A$0.07 price target. To see the full list of analyst forecasts on Manuka Resources Ltd stock, see the AU:MKR Stock Forecast page.

Manuka Resources Grants 20 Million Incentive Options to Director Alan Eggers
Dec 18, 2025

Manuka Resources has granted 20 million unlisted incentive options to director Alan J Eggers under its Incentive Plan, following shareholder approval at the company’s 2025 Annual General Meeting. The options, exercisable at $0.15 and expiring on 16 December 2027, were issued for nil consideration and sit alongside Eggers’ existing indirect holding of 61,375,887 ordinary shares, further strengthening the alignment between the director’s interests and those of shareholders while potentially increasing future equity dilution if exercised.

The most recent analyst rating on (AU:MKR) stock is a Hold with a A$0.07 price target. To see the full list of analyst forecasts on Manuka Resources Ltd stock, see the AU:MKR Stock Forecast page.

Manuka Resources Issues Incentive Options to Director via Trust Structures
Dec 18, 2025

Manuka Resources Limited has reported a change in the indirect interests of director John Andrew Gowans Seton, following the issue of incentive options under the company’s incentive plan as approved by shareholders at the 2025 annual general meeting. Through entities including Jura Trust Limited, Mr Seton was granted 2.5 million unlisted options exercisable at $0.15 and expiring on 16 December 2027, increasing his overall option exposure while his holdings of ordinary shares remain unchanged; the options were issued for nil consideration, underscoring the company’s use of equity-based incentives to align director remuneration with long-term shareholder value.

The most recent analyst rating on (AU:MKR) stock is a Hold with a A$0.07 price target. To see the full list of analyst forecasts on Manuka Resources Ltd stock, see the AU:MKR Stock Forecast page.

Manuka Resources Grants 42.5 Million Unlisted Options Under Incentive Scheme
Dec 18, 2025

Manuka Resources Ltd has issued 42.5 million unlisted options under an employee incentive scheme, each exercisable at $0.15 and expiring on 16 December 2027. The substantial grant of unquoted options is designed to align staff and stakeholder interests with long-term shareholder value, potentially leading to future equity dilution if exercised but strengthening the company’s ability to attract and retain key personnel in a competitive resources market.

The most recent analyst rating on (AU:MKR) stock is a Hold with a A$0.07 price target. To see the full list of analyst forecasts on Manuka Resources Ltd stock, see the AU:MKR Stock Forecast page.

Manuka Resources Announces Issuance of Unquoted Options to Boost Capitalization
Dec 18, 2025

Manuka Resources Ltd has announced the issuance of 27,826,400 unquoted options under the security code MKRAZ, with an expiration date of May 15, 2026, and an exercise price of $0.06. This move reflects the company’s ongoing capitalization strategies aimed at strengthening its financial position and engaging with stakeholders, which may enhance its operational capability and industry competitiveness.

The most recent analyst rating on (AU:MKR) stock is a Hold with a A$0.07 price target. To see the full list of analyst forecasts on Manuka Resources Ltd stock, see the AU:MKR Stock Forecast page.

Manuka Resources Issues Shares to Address Financial Obligations
Dec 18, 2025

Manuka Resources Limited announced the issuance of 35,050,609 fully paid ordinary shares at a deemed price of $0.043 per share, resulting from the conversion of convertible loans and repayment of a short-term loan facility. This development reflects the company’s efforts to optimize its financial structure and maintain compliance with regulatory requirements, emphasizing its commitment to transparency and operational stability.

The most recent analyst rating on (AU:MKR) stock is a Hold with a A$0.07 price target. To see the full list of analyst forecasts on Manuka Resources Ltd stock, see the AU:MKR Stock Forecast page.

Manuka Resources Announces Quotation of New Securities on ASX
Dec 18, 2025

Manuka Resources Ltd has announced the quotation of 13,913,200 fully paid ordinary securities on the Australian Securities Exchange (ASX), effective from December 17, 2025. This development reflects the company’s continued financial structuring and access to capital markets, positioning it to further pursue operational and strategic objectives. The announcement underscores the company’s efforts to strengthen its market standing, benefiting stakeholders and supporting growth prospects in the competitive mining sector.

The most recent analyst rating on (AU:MKR) stock is a Hold with a A$0.07 price target. To see the full list of analyst forecasts on Manuka Resources Ltd stock, see the AU:MKR Stock Forecast page.

Manuka Resources Announces Security Issues to Bolster Financial Standing
Dec 18, 2025

Manuka Resources Limited has issued over 35 million fully paid ordinary shares and nearly 28 million unquoted options following the conversion of convertible loans and the repayment of a short-term loan facility. This action strengthens the company’s financial position and capital structure while presenting potential growth opportunities for stakeholders.

The most recent analyst rating on (AU:MKR) stock is a Hold with a A$0.07 price target. To see the full list of analyst forecasts on Manuka Resources Ltd stock, see the AU:MKR Stock Forecast page.

Manuka Resources Ltd Issues Shares to Satisfy Loan Facility
Dec 17, 2025

Manuka Resources Ltd has announced the issuance of 21,137,409 ordinary fully paid shares at a deemed issue price of $0.043 per share. This issuance is in full satisfaction of a short-term loan facility, which suggests a strategic move to manage its financial obligations. The announcement may impact the company’s operations by potentially improving its liquidity position and strengthening its balance sheet, which could enhance its market positioning and investor confidence.

The most recent analyst rating on (AU:MKR) stock is a Hold with a A$0.07 price target. To see the full list of analyst forecasts on Manuka Resources Ltd stock, see the AU:MKR Stock Forecast page.

Manuka Resources Announces Cessation of Securities
Dec 17, 2025

Manuka Resources Ltd. announced the cessation of 19,571,419 options that expired without exercise or conversion as of December 16, 2025. This cessation of securities could impact the company’s capital structure and may influence investor perceptions regarding the company’s future financial strategies.

The most recent analyst rating on (AU:MKR) stock is a Hold with a A$0.07 price target. To see the full list of analyst forecasts on Manuka Resources Ltd stock, see the AU:MKR Stock Forecast page.

Manuka Resources Launches Major Drilling Program at Mt Boppy and Pipeline Ridge
Dec 15, 2025

Manuka Resources Limited has commenced a significant new drilling program at Mt Boppy and Pipeline Ridge, targeting deep gold extensions and new discoveries. The program aims to explore depths never before drilled at Mt Boppy, with the potential to uncover structures similar to the historical high-grade gold production of the site. The first assay results are expected in Q1 2026, and successful exploration could significantly enhance the company’s 10-year production plan in the Cobar Basin. Additionally, the company is on track to restart silver production at the Wonawinta Silver Mine by Q2 2026, which could further strengthen its position in the mining industry.

The most recent analyst rating on (AU:MKR) stock is a Hold with a A$0.07 price target. To see the full list of analyst forecasts on Manuka Resources Ltd stock, see the AU:MKR Stock Forecast page.

Manuka Resources Issues 22.5 Million Unquoted Warrants
Dec 8, 2025

Manuka Resources Ltd has announced the issuance of 22,500,000 unquoted warrants, exercisable at $0.12 and expiring on December 11, 2026. This issuance is part of previously announced transactions and is not intended to be quoted on the ASX, potentially impacting the company’s financial strategy and stakeholder interests.

The most recent analyst rating on (AU:MKR) stock is a Hold with a A$0.07 price target. To see the full list of analyst forecasts on Manuka Resources Ltd stock, see the AU:MKR Stock Forecast page.

Manuka Resources Issues Shares to Settle Debt
Dec 8, 2025

Manuka Resources Limited has issued 85,733,333 fully paid Ordinary Shares at a price of 0.075 per share to extinguish debt. This strategic move, executed without disclosure to investors under specific provisions of the Corporations Act, indicates the company’s efforts to manage its financial liabilities effectively, potentially impacting its financial stability and investor confidence.

The most recent analyst rating on (AU:MKR) stock is a Hold with a A$0.07 price target. To see the full list of analyst forecasts on Manuka Resources Ltd stock, see the AU:MKR Stock Forecast page.

Manuka Resources Ltd Announces Quotation of New Securities on ASX
Dec 8, 2025

Manuka Resources Ltd has announced the quotation of 85,733,333 ordinary fully paid securities on the Australian Securities Exchange (ASX), effective from December 5, 2025. This move is part of a previously announced transaction, potentially impacting the company’s market presence and liquidity by increasing the number of tradeable shares available to investors.

The most recent analyst rating on (AU:MKR) stock is a Hold with a A$0.07 price target. To see the full list of analyst forecasts on Manuka Resources Ltd stock, see the AU:MKR Stock Forecast page.

Manuka Resources Issues 250,000 Ordinary Shares
Dec 5, 2025

Manuka Resources Limited has issued 250,000 ordinary shares following the conversion of unlisted options, with each option exercisable at $0.06 and expiring on May 15, 2026. This issuance was completed without disclosure under Part 6D.2 of the Corporations Act, and the company confirms compliance with relevant legal provisions, ensuring transparency and adherence to disclosure requirements.

The most recent analyst rating on (AU:MKR) stock is a Hold with a A$0.07 price target. To see the full list of analyst forecasts on Manuka Resources Ltd stock, see the AU:MKR Stock Forecast page.

Manuka Resources Ltd Announces Quotation of New Securities on ASX
Dec 5, 2025

Manuka Resources Ltd has announced the quotation of 250,000 ordinary fully paid securities on the ASX, effective from December 4, 2025. This move is part of the company’s ongoing efforts to enhance its market presence and provide liquidity to its stakeholders, potentially impacting its operational capabilities and market positioning.

The most recent analyst rating on (AU:MKR) stock is a Hold with a A$0.07 price target. To see the full list of analyst forecasts on Manuka Resources Ltd stock, see the AU:MKR Stock Forecast page.

Manuka Resources Ltd Announces Change in Substantial Shareholder
Dec 4, 2025

Manuka Resources Ltd has announced a significant change in its shareholder structure as Alan J Eggers has ceased to be a substantial holder of the company, effective December 3, 2025. This change involves the issuance of 61,375,887 securities, impacting the voting rights associated with these shares, which could influence the company’s governance and strategic decisions.

The most recent analyst rating on (AU:MKR) stock is a Hold with a A$0.07 price target. To see the full list of analyst forecasts on Manuka Resources Ltd stock, see the AU:MKR Stock Forecast page.

Manuka Resources to Host Investor Webinar on Key Projects
Dec 4, 2025

Manuka Resources Limited has announced an upcoming Investor Webinar scheduled for December 9, 2025, where Executive Chairman Dennis Karp will discuss the company’s exploration and development strategy for its key projects. This event aims to provide stakeholders with insights into the company’s operational progress and strategic direction, potentially impacting its market positioning and stakeholder engagement.

The most recent analyst rating on (AU:MKR) stock is a Hold with a A$0.07 price target. To see the full list of analyst forecasts on Manuka Resources Ltd stock, see the AU:MKR Stock Forecast page.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Feb 07, 2026