Manuka Resources Ltd (AU:MKR)
ASX:MKR
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Manuka Resources Ltd
(Sydney:MKR)
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Rating:44Neutral
Price Target:
AU$0.09
â–¼(-7.00% Downside)
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
Operating asset base (NSW mines & processing)
Owning both mining and processing assets in New South Wales is a durable strength: it preserves optionality to restart production, cut processing costs versus tolling, and attract partners or offtake. Physical infrastructure supports recovery plans and long-term resource monetization.
Negative Factors
Revenue collapsed to zero (FY2025)
A fall to zero reported revenue signals a severe operational interruption or suspension of sales; this is a major structural red flag because production and cash conversion are the company's core business. Recovery will require sustained operational fixes and time to restore volumes.
Read all positive and negative factors
Positive Factors
Negative Factors
Operating asset base (NSW mines & processing)
Owning both mining and processing assets in New South Wales is a durable strength: it preserves optionality to restart production, cut processing costs versus tolling, and attract partners or offtake. Physical infrastructure supports recovery plans and long-term resource monetization.
Read all positive factors
Manuka Resources Ltd (MKR) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$142.85M
Dividend YieldN/A
Average Volume (3M)6.16M
Price to Earnings (P/E)―
Beta (1Y)1.01
Revenue Growth-100.00%
EPS Growth24.82%
CountryAU
EmployeesN/A
SectorBasic Materials
Sector Strength58
IndustryOther Precious Metals
Share Statistics
EPS (TTM)-0.01
Shares Outstanding1,478,818,400
10 Day Avg. Volume9,567,628
30 Day Avg. Volume6,162,406
Financial Highlights & Ratios
PEG Ratio0.09
Price to Book (P/B)14.65
Price to Sales (P/S)0.00
P/FCF Ratio-6.16
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Manuka Resources Ltd Business Overview & Revenue Model
Company Description
Manuka 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 l...
How the Company Makes Money
Manuka Resources makes money primarily by producing and selling refined or concentrate precious metals (silver and gold) from its mining operations. Revenue is generated when mined ore is processed through the company’s processing facilities (or v...
Manuka Resources Ltd Financial Statement Overview
Summary
Income Statement
8
Very Negative
Balance Sheet
12
Very Negative
Cash Flow
10
Very Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 15.20M | 9.90M | 53.27M | 43.75M |
| Gross Profit | -393.72K | -655.77K | -6.74M | -15.46M | 12.03M | 439.68K |
| EBITDA | -9.14M | -6.38M | -9.42M | -20.75M | 11.35M | 6.07M |
| Net Income | -21.38M | -16.88M | -18.23M | -26.34M | 5.28M | -2.90M |
Balance Sheet | ||||||
| Total Assets | 61.05M | 59.40M | 61.14M | 61.51M | 41.60M | 35.25M |
| Cash, Cash Equivalents and Short-Term Investments | 2.44M | 968.64K | 2.13M | 265.83K | 1.35M | 1.02M |
| Total Debt | 24.21M | 40.72M | 28.53M | 25.04M | 13.50M | 16.70M |
| Total Liabilities | 38.06M | 57.10M | 44.13M | 41.56M | 28.02M | 33.06M |
| Stockholders Equity | 22.99M | 2.30M | 17.01M | 19.94M | 13.57M | 2.18M |
Cash Flow | ||||||
| Free Cash Flow | -9.75M | -5.46M | -8.65M | -15.79M | -527.43K | -7.66M |
| Operating Cash Flow | -9.64M | -5.20M | -7.23M | -14.52M | 8.35M | 207.79K |
| Investing Cash Flow | -846.17K | -84.99K | -1.33M | -1.21M | -8.56M | -8.03M |
| Financing Cash Flow | 10.89M | 4.13M | 10.42M | 14.83M | 352.54K | 7.33M |
Manuka Resources Ltd Technical Analysis
Negative
0.10
Price Trends
0.14
Negative
0.11
Negative
0.08
Positive
Market Momentum
-0.01
Positive
38.39
Neutral
36.30
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:MKR, the sentiment is Negative. The current price of 0.1 is below the 20-day moving average (MA) of 0.12, below the 50-day MA of 0.14, and above the 200-day MA of 0.08, indicating a neutral trend. The MACD of -0.01 indicates Positive momentum. The RSI at 38.39 is Neutral, neither overbought nor oversold. The STOCH value of 36.30 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:MKR.
Manuka Resources Ltd Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
52 Neutral | AU$76.83M | 1.04 | ― | ― | -22.17% | -274.86% | |
51 Neutral | AU$27.95M | -9.26 | -24.90% | ― | ― | ― | |
46 Neutral | AU$158.76M | -8.05 | -30.82% | ― | ― | ― | |
46 Neutral | AU$29.85M | 8.28 | 2.76% | ― | ― | 26.92% | |
44 Neutral | AU$142.85M | -1.98 | -169.12% | ― | -100.00% | 24.82% | |
43 Neutral | AU$537.87M | -3.44 | -31.56% | ― | ― | 86.21% |
* Basic Materials Sector Average
AU:MKR
Manuka Resources Ltd
0.10
0.07
231.03%
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Austral Gold
0.12
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Midas Minerals Limited
0.78
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AU:FRS
Forrestania Resources Limited
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AU:M79
Firetail Resources Limited
0.05
>-0.01
-15.25%
Manuka Resources Ltd Corporate Events
Manuka Resources Issues Over 8.2 Million New Shares via Unit Trust Redemption
Mar 27, 2026
Manuka Resources Limited has issued 8,240,524 fully paid ordinary shares as a result of redeeming units in its associated Unit Trust, expanding its share capital without undertaking a new public disclosure document. The company states it remains c...
Manuka Resources Seeks ASX Quotation for 8.24 Million New Shares
Mar 27, 2026
Manuka Resources Ltd. has applied to the ASX for quotation of 8,240,524 new ordinary fully paid shares under the ticker MKR, with an issue date of 26 March 2026. The additional securities, issued following a previously announced transaction, will ...
Manuka Resources Issues 1 Million Shares on Exercise of May 2026 Options
Mar 27, 2026
Manuka Resources has issued 1,000,000 fully paid ordinary shares following the exercise of its May 2026 unlisted options, modestly increasing its share capital base. The company stated that the shares were issued without a prospectus under the Cor...
Manuka Resources Seeks ASX Quotation for 1 Million New Shares
Mar 27, 2026
Manuka Resources Ltd has applied to the ASX for quotation of 1,000,000 new ordinary fully paid shares under its ticker MKR. The new securities, issued on 26 March 2026 following the exercise or conversion of existing options or other convertible s...
Manuka taps Macmahon in A$190m deal to restart Wonawinta mine
Mar 22, 2026
Manuka Resources has signed a Letter of Intent with mining contractor Macmahon Holdings for full open-pit mining services at its Wonawinta Silver project in New South Wales. The scope includes drill-and-blast and load-and-haul operations under an ...
Manuka Resources Details Governance and Market Footprint in Interim Report
Mar 16, 2026
Manuka Resources Ltd has released its interim financial report for the six-month period ended 31 December 2025, outlining its corporate structure, governance framework and key management roles. The report confirms the company’s listings on b...
Manuka Resources Issues New Shares Following Option Exercise
Mar 13, 2026
Manuka Resources has issued 1,782,549 fully paid ordinary shares following the exercise of an equal number of options priced at $0.06 and expiring on 15 May 2026. The shares were issued without a prospectus under the Corporations Act provisions, w...
Manuka Resources Seeks ASX Quotation for 1.78 Million New Shares
Mar 13, 2026
Manuka Resources Ltd. has applied to the Australian Securities Exchange for quotation of 1,782,549 new ordinary fully paid shares, with an issue date of 13 March 2026. The additional securities, arising from the exercise or conversion of existing ...
Manuka Resources Clears 5.4m New Shares for Secondary Trading After Option Exercise
Mar 10, 2026
Manuka Resources Ltd has issued 5,445,897 fully paid ordinary shares following the exercise of an equivalent number of options priced at $0.06 and expiring on 15 May 2026. The new shares form part of the company’s ordinary capital and were i...
Manuka Resources Seeks ASX Quotation for 5.4 Million New Shares
Mar 10, 2026
Manuka Resources has applied to the ASX for quotation of 5,445,897 new ordinary fully paid shares, expanding its listed capital base. The securities, issued on 9 March 2026 and announced on 10 March 2026, represent the result of options being exer...
Manuka Resources Targets Q2 2026 Restart at Cobar Precious Metals Projects
Mar 9, 2026
Manuka Resources has outlined in a new presentation its plans to recommence operations at its Cobar Basin precious metals projects, with care and maintenance now completed and a production start targeted for the second quarter of 2026. By remainin...
Manuka Resources Ends Care and Maintenance as Gold and Silver Restart Nears
Mar 8, 2026
Manuka Resources has ended its extended care and maintenance program, initiated in early 2024 when weaker gold and silver prices prompted a halt to hauling Mt Boppy ore to the Wonawinta plant. The decision aligns with a significant recovery in pre...
Manuka Resources Plans New Share Placement to Raise Equity Capital
Mar 6, 2026
Manuka Resources Ltd has notified the ASX of a proposed issue of 8,240,524 ordinary fully paid shares under a placement or similar capital-raising structure. The new MKR securities are targeted for issue on 13 March 2026, with the company applying...
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 sh...
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...
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 f...
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, reflec...
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 draw...
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 eit...
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 ...
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 conversio...
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 ...
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 ...
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 bolster...
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 ...
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 raisi...
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...
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 s...
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 con...
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 Co...
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...
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 mil...
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 h...
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, ...
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 th...
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 convertib...
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 Corpo...
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 conve...
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 pr...
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...
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 ...
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 remain...
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,...
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 tha...
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...
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 ou...
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 th...
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 company̵...
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.