We're pleased to provide the MKR update just received from Claymore Capital, adviser to MKR since its inception. With Gleneagle's clients having invested in the pre-IPO (15c) and the IPO (20c), we remain excited about MKR's prospects. Please also:
- click here for this month's research report with a 12 month price target of 94c (currently 48c); and
- click here for a September article with commentary on MKR's prospects by founder, Dennis Karp.
Here is a link to Manuka's Sep 2020 Quarterly Activities Report for you review. It shows a company with a bright future. The quarter absorbed the one-off effect of the con-note interest, some teething problems and some unusual weather events. On balance, we are happy with the operational progress. We are particularly excited with the commencement of the multi-pronged drilling program and look forward to the results.
We are also providing a link to an interesting interview on the silver price prospects.
Historically, we have been cynical about the gold-silver ratio. On the other hand we have been very aware of the increasing excess of demand over supply. We have been convinced in recent times that the ratio is out of kilter owing to silver resources being much lower than what the ratio is suggesting. In other words, a ratio of 70:1 does not make sense when the total silver resource is less than 10:1 relative to gold.
We like gold AND silver.
Anton RosenbergManaging DirectorClaymore Capital
*Disclosure : Claymore Capital Pty Ltd and its associates are holders of Manuka Resources Limited and may earn fees from the capital raising and other services.I have also included below Manuka's announcement today:
MANUKA SILVER OPERATIONS
As advised in its Prospectus and pending further exploration success at Mt Boppy, Manuka intends to move from gold production into silver operations at its Wonawinta silver project in Cobar, mid-2021. The Company is pleased to advise that it has appointed Rod Griffith as the Project Manager to coordinate all the activities required to make this transition and manage the execution of these activities, to ensure we have a smooth ramp-up to meet our silver production targets.
In this role Rod will report directly to Executive Chairman Dennis Karp.
The current completion of this phase of the Mt Boppy gold production is likely to occur around the end of Q2CY21. Manuka then intends to produce 900,000oz of silver from the 500kt silver ore stockpile on the Wonawinta plant’s ROM pad for a 6-9 month period, following which it will move into production of >2 million oz Ag per annum for 4 years or more from the existing silver oxide Resource at the Wonawinta Mine.
Rod is well qualified and experienced for this role having been directly involved in the opening and operation of multiple open cut mines. As Chief Operating Officer of KBL Mining, Rod was involved in the start-up of the Pearse open cut mine as well as overseeing the Plant upgrade involving the installation of a new CIL process route at Mineral Hill. Prior to KBL Mining, Rod worked with Straits Resources Limited for over 20 years in a range of roles, including the position of G.M. Projects. He was directly involved in both the development and operations of the Murrawombie, Larsens, North East and Hartmans open cut mines.
This announcement has been approved for release by the Board of Directors of Manuka Resources Limited.
For Further information contact: Dennis Karp
Manuka Resources Ltd
0412 268 114
Ben Henri, Media & Capital Partners Ben.firstname.lastname@example.org 0473 246 040