Manuka Resources Ltd (AU:MKR)
ASX:MKR
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Manuka Resources Ltd
(Sydney:MKR)
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Rating:46Neutral
Price Target:
AU$0.10
â–²(3.00% Upside)
Action:Reiterated
Date:05/14/26
The score is held down primarily by very poor financial performance (losses, zero revenue in FY2025, negative operating/free cash flow, and sharply higher leverage). Technical indicators provide only partial support with moderately positive momentum but a slightly negative MACD. Valuation is also challenged due to a negative P/E reflecting ongoing losses.
Positive Factors
Diversified mining value-chain model
The company’s multi-route monetisation model (production, development, exploration/transactions) provides structural optionality. Over months this reduces reliance on a single cash source, enabling value creation from project advancement, asset sales or joint ventures as needs and opportunities evolve.
Negative Factors
Revenue collapsed to zero (FY2025)
A year with zero revenue removes internal cash generation and sharply reduces operational visibility. Over a 2–6 month horizon this forces dependence on external funding or asset sales, constrains project advancement, and elevates execution and going-concern risk absent clear revenue reactivation.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified mining value-chain model
The company’s multi-route monetisation model (production, development, exploration/transactions) provides structural optionality. Over months this reduces reliance on a single cash source, enabling value creation from project advancement, asset sales or joint ventures as needs and opportunities evolve.
Read all positive factors
Manuka Resources Ltd (MKR) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$166.51M
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 Outstanding1,585,817,700
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 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 by monetising mineral assets across the mining value chain: (1) Production and sale of mined products: when it has operating mines, revenue is generated from selling produced commodities (e.g., silver/gold doré or conc...
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
Neutral
0.10
Price Trends
0.10
Positive
0.12
Negative
0.09
Positive
Market Momentum
<0.01
Positive
47.47
Neutral
5.56
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:MKR, the sentiment is Neutral. The current price of 0.1 is below the 20-day moving average (MA) of 0.10, above the 50-day MA of 0.10, and above the 200-day MA of 0.09, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 47.47 is Neutral, neither overbought nor oversold. The STOCH value of 5.56 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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% | |
57 Neutral | AU$86.85M | 3.68 | 57.96% | ― | 41.66% | ― | |
56 Neutral | AU$228.03M | -59.67 | -18.89% | ― | ― | 54.64% | |
51 Neutral | AU$31.30M | -5.09 | -24.90% | ― | ― | 77.87% | |
47 Neutral | AU$22.96M | 46.99 | 2.76% | ― | ― | ― | |
46 Neutral | AU$166.51M | -5.13 | -169.12% | ― | -100.00% | 2.63% | |
46 Neutral | AU$753.16M | -24.27 | -31.56% | ― | ― | -20.30% |
* Basic Materials Sector Average
AU:MKR
Manuka Resources Ltd
0.10
0.06
177.14%
AU:AGD
Austral Gold
0.12
0.06
100.00%
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Midas Minerals Limited
0.91
0.66
262.00%
AU:GSN
Great Southern Mining Limited
0.02
>-0.01
-4.76%
AU:FRS
Forrestania Resources Limited
0.57
0.49
612.50%
AU:M79
Firetail Resources Limited
0.06
>-0.01
-8.33%
Manuka Resources Ltd Corporate Events
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...
Manuka Resources Issues New Shares on Exercise of Unlisted Options
Apr 14, 2026
Manuka Resources has issued 666,666 fully paid ordinary shares following the exercise of unlisted options due to expire on 15 May 2026, expanding its share capital base. The company stated that the shares were issued without a prospectus under rel...
Manuka Resources Seeks ASX Quotation for 666,666 New Shares
Apr 14, 2026
Manuka Resources has applied for quotation on the ASX of 666,666 new ordinary fully paid shares, dated 13 April 2026. The move modestly increases the company’s listed share capital and provides additional tradable equity for investors, poten...
Manuka Resources Announces Resignation of Joint Company Secretary
Apr 9, 2026
Manuka Resources Limited has announced the immediate resignation of Mr Alex Sutton from his role as Joint Company Secretary. His former co-secretary, Ms Eryn Kestel, will continue as the sole Company Secretary, ensuring continuity in the company&#...
Manuka Resources Options Lapse, Streamlining Capital Structure
Apr 7, 2026
Manuka Resources has announced the cessation of 3,000,000 listed options (ASX code MKRAY) that expired unexercised on 31 March 2026, each with an exercise price of $0.0821. The lapse of these options modestly simplifies the company’s capital...
Manuka Resources Issues 2 Million New Shares on Option Exercise
Apr 1, 2026
Manuka Resources has issued 2,000,000 fully paid ordinary shares following the exercise of unlisted options that expired on 31 March 2026. The company confirmed the shares were issued without a prospectus under relevant Corporations Act provisions...
Manuka Resources Seeks Quotation for 2 Million New Shares on ASX
Apr 1, 2026
Manuka Resources Ltd has applied for quotation on the ASX of 2,000,000 ordinary fully paid shares under the ticker MKR. The new securities, issued on 31 March 2026 following the exercise or conversion of existing options or other convertible secur...
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...
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.