Manuka Resources Limited has secured firm commitments to raise A$14.5 million through a share placement to institutional, sophisticated and professional investors to fund the final stages of its precious metals production strategy in New South Wales.

The placement involves issuing approximately 207 million new ordinary shares at A$0.07 per share. Proceeds will primarily fund the completion and commissioning of the de-slime circuits at the Wonawinta project, alongside general working capital through the production ramp-up. Manuka is also offering eligible shareholders in Australia and New Zealand the opportunity to subscribe for up to A$30,000 worth of new shares under a share purchase plan aiming to raise up to an additional A$1 million.

Gold processing has recommenced at the Wonawinta facility, initially treating gold-bearing ore hauled from the company’s 100%-owned Mt Boppy gold project located less than 30 kilometres south of the processing plant.

The additional funding reflects increased project costs, including freight, installation and construction expenses, alongside an approximate three-month extension to the original production timetable. Construction of the Wonawinta crushing and de-slime circuits is targeted for completion in the fourth quarter of 2026, with commissioning planned for December 2026 to introduce silver ore following the gold ramp-up.

“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.” — Dennis Karp, Executive Chairman

The company is targeting first gold sales from Wonawinta by the end of September 2026, with first silver revenues following from January 2027. 

Read the full announcement: $A14.5 Million to Complete Silver Circuit