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Manuka Resources (ASX:MKR) is making headlines with its dual focus on precious metals and critical minerals. Executive chairman Dennis Karp outlines the company's strategy, highlighting the restart of gold and silver operations in the Cobar Basin, New South Wales. The Mount Boppy gold project, historically one of the richest mines in the region, and the adjoining Wonawinta silver site, position Manuka as a key silver producer. Silver, recently designated as a critical mineral in Australia, represents a sizable opportunity, especially given its processing occurs domestically. Karp points to rising silver prices and strong investor interest, with every dollar increase in silver price significantly boosting projected profits.
Recent forecasts use a silver price assumption of A$72.50 per ounce, while current prices hover around A$80. For gold, the forecast is A$5,925 per ounce, with spot prices now at approximately A$6,300. Plant upgrades targeting improved clay separation are set to enhance operational efficiency, supported by a recent $15 million capital raise. Karp anticipates these developments will drive high financial returns.
The Taranaki VTM project in New Zealand advances through the fast track approval process. With high-grade iron, vanadium, and titanium, this site targets European and US steel mills as potential customers. Manuka’s market valuation may not fully reflect projected net present values, a gap Karp attributes to its mixed asset portfolio.
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