Manuka Resources (ASX:MKR) - Executive Chairman, Dennis Karp
Executive Chairman, Dennis Karp
Source: Manuka Resources
Market Herald logo


Be the first with the news that moves the market
  • Manuka Resources’ (MKR) reports its Mt Boppy operation achieved record sales results of $9.1 million in September
  • The company sold 3710 ounces of gold and 2757 ounces of silver, helping MKR achieve a monthly sales record
  • Mining at Mt Boppy is due to end in late November, though gold processing and production from the project will continue until February
  • Additionally MKR is planning to ramp up drilling at an area south of Mt Boppy as the company continues to investigate the site
  • Shares in Manuka ended Wednesday up 1.59 per cent at 32 cents each

Manuka Resources’ (MKR) Mt Boppy operation has achieving record sales results of $9.1 million in September.

The company said it had sold 3710 ounces of gold and 2757 ounces of silver during the month, helping it achieve the sales record from the NSW-based asset.

The mining stock also noted gold recoveries from the mine had increased from 72 per cent to 77 per cent since it altered the regrind circuit by adding a second ball mill.

The company believes the current production rate will continue until the end of mining and processing from the current open pit design at Mt Boppy.

Mining is due to end in late November, though gold processing and production from Mt Boppy ore is expected to continue until February next year.

MKR Executive Chairman Dennis Karp said he was very pleased with the sales record.

“The September Quarter has been excellent in terms of gold production, sales and profit,” Mr Karp said.

“I look forward to advising the September profit and that for the Quarter. It is stating the obvious, but the contribution to free cashflow from three good months is material.”

Manuka also advised today that it was planning to intensify its exploration program at Mt Boppy South as it investigates the sites potential for mining.

“The intensified exploration program over around 29,000 metres of drilling is also very exciting, as success could be transformational for the company,” Mr Karp said.

Shares in Manuka Resources ended Wednesday up 1.59 per cent at 32 cents each.

MKR by the numbers
More From The Market Herald
West African Resources (ASX:WAF) - Founder, CEO & Executive Chairman, Richard Hyde

" West African Resources (ASX:WAF) completes Kiaka acquisition

Gold mining company West African Resources (WAF) has completed the acquisition of the Kiaka and Toega gold projects.

" Galileo Mining (ASX:GAL) receives initial assays from Norseman

Galileo Mining (GAL) has received the first assays from aircore drilling at its Norseman project in Western Australia.
Kingwest Resources (ASX:KWR) - CEO, Ed Turner

" Kingswest Resources (ASX:KWR) considers JV with FMR investments

Kingswest Resources (KWR) may enter into a joint venture (JV) partnership with FMR Investments where KWR will own 40 per cent and FMR
Liontown Resources (ASX:LTR) - Managing Director and CEO, Tony Ottaviano

" Liontown Resources (ASX:LTR) launches $490m capital raise for Kathleen Valley

Liontown Resources (LTR) has launched a fully-underwritten institutional placement to raise approximately $450 million.