$A14.5 Million to Complete Silver Circuit
Released
Released
Announcement PDF
ASX Announcement
7 September 2026
ASX: MKR
Manuka Resources Limited - Level 4 Grafton Bond Building, 201 Kent St Sydney NSW Australia 2000
ABN 80 611 963 225 Tel 02- 7253 2020 www.manukaresources.com.au
Manuka raises A$14.5 million to complete silver circuit
and production ramp up
Strong investor support as gold production ramps up and Manuka
progresses towards silver commissioning
Highlights
• Firm commitments received to raise A$14.5 million, through a placement to
institutional, sophisticated and professional investors
• Manuka has recommenced gold processing at Wonawinta, processing Mt Boppy gold ore
following completion of an extensive plant recommissioning program.
• Placement proceeds will principally fund completion and commissioning of the
Wonawinta silver de-slime circuits, together with working capital through the production
ramp-up.
Manuka Resources Limited (ASX:MKR, “Manuka” or the “Company”) is pleased to announce
that it has received firm commitments to raise A$14.5 million through a placement of
approximately 207 million new fully paid ordinary shares (“New Shares”) at A$0.07 per share
(“Placement”).
The Placement received strong support from institutional, sophisticated and professional
investors and will fund the next phase of Manuka’s Cobar Basin production strategy.
As announced on 20 August 2026, Manuka has recommenced gold processing at its 100%-
owned Wonawinta processing facility, initially treating gold-bearing ore from the Company’s Mt
Boppy Gold Mine.
The additional capital requirement reflects increases in project costs, including freight,
installation and construction costs, together with an approximately three-month
extension to the Company’s original production timetable.
With gold processing now underway, Manuka is targeting first gold sales by the end of
September 2026.
Construction of the Wonawinta crushing and de-slime circuits are targeted for completion in
4Q 2026, with commissioning planned for December 2026. The timing has been structured to
maximise near-term revenues from gold production before introducing silver ore, with first
silver revenues targeted from January 2027.
The Placement provides the funding required to complete installation and commissioning of
the de-slime circuit, together with additional working capital through the production ramp-up as
Manuka progresses towards steady-state gold and silver production.
In addition to the Placement the Company will offer eligible Shareholders in Australia and New
Zealand the opportunity to subscribe for up to $30,000 worth of New Shares under a share
purchase plan. The Company aims to raise up to a further $1m under the SPP.
Dennis Karp, Manuka’s Executive Chairman, commented:
“The strong investor support for this capital raising has been very encouraging as we near the
end of the construction and commissioning phase.
Gold processing has recommenced at Wonawinta and our immediate priority is to ramp up gold
production while completing the remaining works required to introduce silver into the operation.
The additional funding requirement reflects increased project costs and the approximate 3
month extension to our original production timetable. With gold processing now underway, we
are targeting first gold revenues by the end of September.
Construction of the de-slime circuit is targeted for the 4Q2026, with commissioning planned for
December. This allows us to maximise near-term gold production before introducing silver, with
first silver revenues targeted for January 2027.
Steady state production and consistent revenues from precious metal sales are now becoming
a near-term reality for Manuka.
In parallel, we look forward to the forthcoming maiden mineral resource release at our Pipeline
Ridge gold project. This will be a new project for Manuka less than 30km south of Mt Boppy and
we are very optimistic on its potential.”
Use of Placement Proceeds
The proceeds of the Placement are proposed to be used as follows:
Table 1: Use of Placement Proceeds
Item Amount
De-slime Circuit to commissioning A$8.5 million
Office, camp and working capital A$5.25 million
Offer costs A$0.75 million
Total A$14.5 million
Placement Details
The Placement will comprise the issue of approximately 207 million New Shares which will rank
equally with the Company’s existing ordinary shares. The Placement price of A$0.070 per share
represents:
• a 10.3% discount to the closing price of the Company’s shares on 2 September 2026;
• a 20.1% discount to the 5-day volume weighted average price.
Of the 207,142,857 New Shares to issued under the Placement, 152,519,629 will be issued
under Listing Rule 7.1 and 54,623,228 will be issued under Listing Rule 7.1A.
Key dates for the Placement
Trading halt request released to ASX Thursday, 3 September 2026
Placement announced and trading halt lifted Monday, 7 September 2026
Settlement of New Shares Thursday, 10 September 2026
Allotment of New Shares Friday 11, September 2026
Details of the SPP
As noted above, the Company is proposing to offer eligible Shareholders in Australia and New
Zealand the opportunity to subscribe for up to $30,000 worth of New Shares under the SPP.
The issue price for New Shares under the SPP will also be $0.07 (i.e. the same price investors paid
for New Shares under the Placement).
No brokerage or transaction costs are payable for New Shares issued under the SPP and all New
Shares issued under the SPP will rank equally with all other existing shares in the company from the
date of issue.
An offer booklet for the SPP (which will contain the full terms and conditions of the SPP and a
personalised application form) (Offer Booklet) is expected to be sent to eligible Shareholders.
SPP Indicative Dates
SPP Record Date 7pm (Sydney time) Friday 4 September 2026
Opening Date Monday 14 September 2026
Closing Date 5pm (Sydney time) Wednesday 23 September 2026
Results announced Friday 25 September 2026
Issue Date Monday 28 September 2026
New Shares quoted on ASX Wednesday 30 September 2026
The above timetable is indicative only and subject to change
Bell Potter Securities Limited acted as Lead Manager to the Placement and will be paid up to
6% on capital raised.
This announcement has been approved for release by the Board of Directors of Manuka
Resources Limited.
For further information contact:
Dennis Karp
Executive Chairman
Manuka Resources Limited
Tel. +61 2 72532020
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