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Manuka Resources Ltd
(Sydney:MKR)
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Rating:40Underperform
Price Target:
AU$0.08
â–¼(-17.00% Downside)
Action:Downgraded
Date:06/10/26
The score is held down primarily by very poor financial performance (revenue disruption to zero, sustained losses, negative operating cash flow, and sharply higher leverage). Technical indicators add further pressure with the stock trading below key moving averages and negative MACD, while valuation is only slightly supportive given the negative P/E and no dividend yield data.
Positive Factors
Business Focus
A pure-play exploration and development business model gives Manuka optionality: advancing projects and studies can unlock value via discovery, permitting, JV or sale. Over 2-6 months, project progress and study completion are durable drivers of future cash flow potential if financing is secured.
Negative Factors
Revenue Collapse
A drop to zero revenue is a severe structural concern: it implies halted operations or lost offtake and removes the company's primary path to cover costs. Restoring sustainable revenue will require capital, time and successful project reactivation or new contracts.
Read all positive and negative factors
Positive Factors
Negative Factors
Business Focus
A pure-play exploration and development business model gives Manuka optionality: advancing projects and studies can unlock value via discovery, permitting, JV or sale. Over 2-6 months, project progress and study completion are durable drivers of future cash flow potential if financing is secured.
Read all positive factors
Manuka Resources Ltd (MKR) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$134.88M
Dividend YieldN/A
Average Volume (3M)6.16M
Price to Earnings (P/E)―
Beta (1Y)0.89
Revenue Growth-100.00%
EPS Growth2.63%
CountryAU
EmployeesN/A
SectorBasic Materials
Sector Strength58
IndustryOther Precious Metals
Share Statistics
EPS (TTM)-0.02
Shares Outstanding1,586,817,700
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 (MKR.AX) is an Australian enterprise primarily engaged in identifying and advancing gold and silver deposits. The company's business activities are structured across two main divisions: Exploration and Operations. Its asse...
How the Company Makes Money
null...
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
0.09
Negative
0.10
Negative
0.10
Negative
Market Momentum
>-0.01
Negative
43.21
Neutral
18.77
Positive
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 above the 20-day moving average (MA) of 0.08, above the 50-day MA of 0.09, and above the 200-day MA of 0.10, indicating a bearish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 43.21 is Neutral, neither overbought nor oversold. The STOCH value of 18.77 is Positive, 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% | |
46 Neutral | AU$104.26M | -29.00 | -16.95% | ― | ― | 82.14% | |
43 Neutral | AU$118.76M | -93.75 | -10.71% | ― | ― | 22.77% | |
43 Neutral | AU$109.73M | -15.61 | -7.98% | ― | ― | -201.77% | |
40 Underperform | AU$134.88M | -3.69 | -169.12% | ― | -100.00% | 2.63% |
* Basic Materials Sector Average
AU:MKR
Manuka Resources Ltd
0.09
0.04
93.18%
AU:G50
Gold 50 Ltd.
0.54
0.27
98.15%
AU:FXG
Felix Gold Ltd.
0.23
0.06
35.29%
AU:SHN
Sunshine Gold Ltd
0.03
0.02
163.64%
AU:MPK
Many Peaks Gold Ltd.
0.81
0.01
1.25%
AU:VAL
Valiant Gold Limited
0.20
-0.10
-35.00%
Manuka Resources Ltd Corporate Events
Manuka Resources clarifies restructuring of major shareholder’s holdings
Jul 2, 2026
Manuka Resources has disclosed changes in the indirect shareholding structure of executive chairman Dennis Karp following a series of internal transactions at major shareholder ResCap Investments Pty Ltd. ResCap has completed an in-specie distribu...
Manuka Resources Issues 8.2 Million Unquoted Warrants as Part of Capital Strategy
Jun 30, 2026
Manuka Resources Ltd., listed on the ASX under ticker MKR, operates in the resources sector and is focused on exploration and development of mineral assets. Its capital structure includes a mix of quoted shares and unquoted equity instruments used...
Manuka Resources Plans Issue of 8.2 Million Warrants
Jun 29, 2026
Manuka Resources Ltd has lodged a notice with the ASX outlining a proposed issue of new securities in the form of warrants. The company is seeking quotation for these instruments in accordance with ASX listing rules and related disclosure obligati...
Manuka Resources Draws Final Nebari Tranche as Wonawinta, Mt Boppy Near Production Restart
Jun 29, 2026
Manuka Resources has fully drawn down the second tranche of its US$30 million senior secured term facility with Nebari Natural Resources Credit Fund II, securing an additional US$4 million to fund the Wonawinta silver and Canbelego gold projects. ...
Manuka Resources Issues 1 Million New Shares on Option Exercise
Jun 2, 2026
Manuka Resources Limited has issued 1,000,000 fully paid ordinary shares following the exercise of an equal number of unlisted options, which were due to expire on 29 May 2026 and had an exercise price of $0.06 per option. The new shares were issu...
Manuka Resources Seeks ASX Quotation for 1 Million New Shares
Jun 2, 2026
Manuka Resources Ltd has applied to the ASX for quotation of 1,000,000 new ordinary fully paid shares, with the securities to be issued and quoted under the ticker MKR on 2 June 2026. The additional share quotation modestly increases the company&#...
Manuka Resources Issues 27.4 Million New Shares Through Option Exercise
May 22, 2026
Manuka Resources has issued 27,435,995 fully paid ordinary shares following the exercise of two tranches of unlisted options, all with an exercise price of $0.06 and expiring in May 2026. The company states the shares were issued without a disclos...
Manuka Resources Seeks ASX Quotation for 27.4 Million New Shares
May 22, 2026
Manuka Resources Ltd. has applied for quotation on the ASX of 27,435,995 new fully paid ordinary shares under its MKR ticker. The securities arise from the exercise or conversion of existing options or other convertible instruments, with 11,335,99...
Manuka Resources Issues 21.9 Million Shares on Option Exercises
May 11, 2026
Manuka Resources has issued 21,985,819 fully paid ordinary shares following the exercise of a series of unlisted options that were due to expire in May 2026. The new shares were issued without a prospectus under Australian Corporations Act provisi...
Manuka Resources Seeks ASX Quotation for Nearly 22 Million New Shares
May 11, 2026
Manuka Resources has applied to the ASX for quotation of 21,985,819 newly issued ordinary fully paid shares, following the exercise or conversion of existing options or other convertible securities. The additional securities expand the companyR...
Manuka Resources clarifies Mt Boppy exploration target in supplementary ASX disclosure
May 10, 2026
Manuka Resources has issued a supplementary disclosure clarifying references to an Exploration Target and exploration results in its March 2026 quarter activities and cashflow reports. The company acknowledged that the original quarterly report om...
Manuka Resources Tightens Mt Boppy Gold Disclosure to Meet ASX and JORC Rules
May 10, 2026
Manuka Resources has issued an amended update on its Mt Boppy Gold Project exploration program, replacing an April disclosure to ensure full compliance with ASX Listing Rules 5.7 and 5.22. The revised announcement clarifies drilling methods, speci...
Manuka Resources Issues New Shares on Option Exercise, Affirms Disclosure Compliance
May 6, 2026
Manuka Resources has issued 4,605,713 fully paid ordinary shares following the exercise of an equivalent number of unlisted options, which are exercisable until May 2026. The company confirmed the shares were issued without a prospectus under rele...
Manuka Resources Seeks ASX Quotation for 4.6 Million New Shares
May 6, 2026
Manuka Resources Ltd has applied for quotation on the ASX of 4,605,713 new ordinary fully paid shares under its ticker MKR. The securities, issued on 5 May 2026 following the exercise or conversion of existing options or other convertible instrume...
Manuka Resources Expands Share Capital via Option Conversions
Apr 22, 2026
Manuka Resources has issued 5,383,333 fully paid ordinary shares following the exercise of unlisted options due to expire in May 2026. The shares were issued without a prospectus under Australian Corporations Act provisions, with the company confi...
Manuka Resources Seeks ASX Quotation for 5.38 Million New Shares
Apr 22, 2026
Manuka Resources Ltd. has applied for quotation on the ASX of 5,383,333 new ordinary fully paid shares, following the exercise or conversion of existing options or other convertible securities. The additional shares, issued on 21 April 2026, expan...
Manuka Resources Advances Mt Boppy and Wonawinta Restart Toward June Quarter Production
Apr 20, 2026
Manuka Resources has commenced crushing, screening and haulage of gold-bearing plant feed from its Mt Boppy project to the Wonawinta processing facility, marking a major step toward restarting operations. The company has completed most development...
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.