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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 50 (OpenAI - 5.2)
Rating:50Neutral
Price Target:
AU$0.17
â–²(70.00% Upside)
The score is held down primarily by very weak financial performance (revenue collapsed to zero, sustained losses, negative operating cash flow, and sharply higher leverage). Technicals provide a meaningful offset with improving price trend and positive MACD, while valuation remains unfavorable/uncertain due to negative earnings and no provided dividend yield.
Positive Factors
Precious metals focus (gold & silver)
Operating in gold and silver gives Manuka durable end markets and well-established commodity channels. Hosting assets in New South Wales reduces jurisdictional risk versus frontier jurisdictions, supporting long-term project optionality and financing pathways if operations can be restored.
Multiple monetization pathways
The business model includes direct metal sales, contracted processing and potential asset transactions or joint ventures. This diversity of monetization routes provides structural flexibility to generate cash or de-risk projects across commodity cycles and during operational disruptions.
Relatively stable asset base
A stable asset base preserves recoverable resource and processing capacity that can underpin recovery or collateral-based financing. Even amid losses, intact assets enable restructuring, restart scenarios or asset sales that support medium-term recovery options.
Negative Factors
Revenue collapsed to zero (FY2025)
A drop to zero reported revenue in FY2025 signals a major operational interruption or suspension of sales, removing sustainable operating inflows. This materially reduces visibility on future cash generation and undermines the firm's ability to self-fund operations or invest in project development.
Chronic negative operating and free cash flow
Sustained negative operating and free cash flow erode liquidity and force reliance on external funding or asset disposals. Over months this constrains capital allocation, exploration or restart funding and increases bankruptcy or dilution risk if cash deficits persist.
Severely weakened balance sheet; high leverage
Very high leverage with minimal equity substantially raises solvency and covenant risks, limits access to low-cost capital, and reduces resilience to commodity or operational shocks. Structurally this narrows financing options and increases likelihood of asset sales or restructuring.

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 deteriorated from FY2022 to deep losses in FY2023–FY2025, revenue fell sharply and reached zero in FY2025, operating cash flow is negative in FY2023–FY2025, and leverage spiked as equity eroded (debt-to-equity ~17.7x in FY2025), increasing 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.
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue0.000.0015.20M9.90M53.27M43.75M
Gross Profit-655.77K-655.77K-6.74M-15.46M12.03M439.68K
EBITDA-4.15M-6.38M-9.42M-20.75M11.35M6.07M
Net Income-16.88M-16.88M-18.23M-26.34M5.28M-2.90M
Balance Sheet
Total Assets59.40M59.40M61.14M61.51M41.60M35.25M
Cash, Cash Equivalents and Short-Term Investments968.64K968.64K2.13M265.83K1.35M1.02M
Total Debt40.72M40.72M28.53M25.04M13.50M16.70M
Total Liabilities57.10M57.10M44.13M41.56M28.02M33.06M
Stockholders Equity2.30M2.30M17.01M19.94M13.57M2.18M
Cash Flow
Free Cash Flow-5.41M-5.46M-8.65M-15.79M-527.43K-7.66M
Operating Cash Flow-5.20M-5.20M-7.23M-14.52M8.35M207.79K
Investing Cash Flow-84.99K-84.99K-1.33M-1.21M-8.56M-8.03M
Financing Cash Flow4.13M4.13M10.42M14.83M352.54K7.33M

Manuka Resources Ltd Technical Analysis

Technical Analysis Sentiment
Positive
Last Price0.10
Price Trends
50DMA
0.11
Positive
100DMA
0.08
Positive
200DMA
0.06
Positive
Market Momentum
MACD
0.03
Negative
RSI
55.24
Neutral
STOCH
55.83
Neutral
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 0.16, below the 50-day MA of 0.11, and above the 200-day MA of 0.06, indicating a bullish trend. The MACD of 0.03 indicates Negative momentum. The RSI at 55.24 is Neutral, neither overbought nor oversold. The STOCH value of 55.83 is Neutral, 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%
53
Neutral
AU$142.86M-3.06――-22.17%-274.86%
51
Neutral
AU$75.45M-6.89-17.78%―――
50
Neutral
AU$290.48M-8.25-174.83%―-100.00%24.82%
48
Neutral
AU$41.87M-21.05-12.26%――26.92%
47
Neutral
AU$421.24M-71.43-21.63%――86.21%
46
Neutral
AU$145.53M-38.15-31.71%―――
* Basic Materials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
AU:MKR
Manuka Resources Ltd
0.17
0.15
639.13%
AU:AGD
Austral Gold
0.21
0.17
485.71%
AU:MM1
Midas Minerals Limited
0.66
0.56
560.00%
AU:GSN
Great Southern Mining Limited
0.04
0.02
90.48%
AU:FRS
Forrestania Resources Limited
0.45
0.44
4400.00%
AU:M79
Firetail Resources Limited
0.12
0.05
66.67%

Manuka Resources Ltd Corporate Events

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.

Manuka Resources Completes Share Placement to Investors
Dec 3, 2025

Manuka Resources Limited has issued 165,558,973 fully paid ordinary shares at $0.075 per share to sophisticated and professional investors, following shareholder approval at the recent Annual General Meeting. This share placement, conducted without disclosure under Part 6D.2 of the Corporations Act, is part of the company’s strategy to enhance its financial position and support its ongoing operations, potentially impacting its market positioning 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 Ltd Announces Quotation of New Securities on ASX
Dec 3, 2025

Manuka Resources Ltd has announced the quotation of 165,558,973 fully paid ordinary securities on the Australian Securities Exchange, effective December 3, 2025. This move is part of previously announced transactions and is expected to enhance the company’s liquidity and market presence, potentially impacting its operational capabilities and stakeholder interests positively.

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 Expands Capital with New Securities Issuance
Dec 1, 2025

Manuka Resources Ltd has announced the issuance of 2,000,000 fully paid ordinary securities to be quoted on the ASX, following the exercise of options or conversion of convertible securities. This move is expected to bolster the company’s capital structure, potentially enhancing its operational capabilities and market positioning within 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 Secures $22.5 Million Loan for Silver Mine Restart
Dec 1, 2025

Manuka Resources Limited has secured a non-binding term sheet with Nebari Natural Resources Credit Fund for a US$22.5 million loan facility, intended to restart silver and gold production at the Wonawinta Silver Mine by Q2 2026. This financial move positions Manuka to capitalize on favorable silver market conditions, aiming to enhance its production capacity and repay existing debts, thereby strengthening its market position as a significant silver producer in Australia.

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 Successfully Passes All AGM Resolutions
Nov 27, 2025

At the 2025 Annual General Meeting of Manuka Resources Limited, all resolutions were passed by a poll, aligning with the ASX Corporate Governance Council Principles and Recommendations. This outcome reflects strong shareholder support and may positively impact the company’s governance and operational strategies, reinforcing its position in the resources 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 Ltd Expands Strategic Mining Projects
Nov 27, 2025

Manuka Resources Ltd has announced developments in its Taranaki VTM project, a world-class tier 1 offshore vanadium titaniferous iron sands project located on the West Coast of New Zealand’s North Island. Additionally, the company continues to operate its Mt Boppy and Wonawinta projects, which are gold and silver production sites with exceptional exploration potential within the Cobar Basin, NSW. These projects are strategically positioned to enhance the company’s market presence and operational capabilities.

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 Secures NZX Listing, Enhances Compliance
Nov 25, 2025

Manuka Resources Limited has received approval for a secondary listing on the NZX Main Board Market, complementing its primary listing on the ASX. This move allows approximately 30% of its shares, held by New Zealand shareholders, to be traded in their local time zone. The company has made amendments to its listing profile to comply with ASX Listing Rules and the JORC Code, ensuring necessary compliance statements and context are provided. The revisions are not material to the technical data but include confirmations regarding mineral resource estimates and competent person declarations.

Manuka Resources Issues 3 Million New Shares Following Option Conversion
Nov 13, 2025

Manuka Resources Ltd has announced the issuance of 3,000,000 Ordinary Shares following the conversion of Unlisted Options, which were exercisable at $0.0504 and set to expire on 17 November 2025. This move was made without disclosure to investors under Part 6D.2 of the Corporations Act, and the company has confirmed compliance with relevant provisions of the Act, ensuring transparency and regulatory adherence.

Manuka Resources Ltd Issues New Shares to Boost Capital
Nov 13, 2025

Manuka Resources Ltd has announced the issuance of 3,000,000 fully paid ordinary shares, which will be quoted on the Australian Securities Exchange (ASX) under the code MKR. This move is part of the company’s strategy to enhance its capital structure and potentially support its growth initiatives in the mining sector.

Manuka Resources Issues Supplement to AGM Notice for Debt Restructuring
Nov 6, 2025

Manuka Resources Ltd has issued a Supplement to the Notice of Annual General Meeting, adding two additional resolutions related to a recent debt restructuring. Shareholders are encouraged to vote on these new resolutions, with updated proxy forms and online voting facilities provided. This development is part of the company’s ongoing efforts to manage its financial structure and engage with its stakeholders effectively.

Manuka Resources to Launch Gold Exploration in Cobar Basin
Nov 6, 2025

Manuka Resources Limited has announced the commencement of its gold exploration drilling program in the Cobar Basin, set to begin in December 2025. The program targets deep gold extensions and new discoveries at the Mt Boppy Gold Mine and shallow gold mineralization at the Pipeline Ridge Gold Prospects. This initiative is part of Manuka’s strategy to expand its 10-year production plan and restart the Wonawinta Silver Mine and Processing Plant within the next six months, potentially delivering significant results for shareholders.

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 03, 2026