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MKR Quarterly Sep 20

Posted by Justin Rosenberg on 30-Oct-2020 05:15:01
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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:

On Thu, Oct 29, 2020 at 12:36 AM Anton Rosenberg wrote:
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.

https://www.themorganreport.com/blog/100-silver-price-when-and-why-we-will-see-it

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.

Kind regards,

Anton Rosenberg
Managing Director
Claymore 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
Executive Chairman
Manuka Resources Ltd

0412 268 114

Investor Relations

Ben Henri, Media & Capital Partners Ben.henri@mcpartners.com.au 0473 246 040

Justin Rosenberg
Corporate Finance - Executive Director
Gleneagle Securities (Aust) Pty Limited
Level 27, 25 Bligh Street, Sydney NSW 2000
Ph: +612 8277 6683 | Fax: +612 9475 0154
 
Justin Rosenberg is an Authorised Representative (No. 1265414) of Gleneagle Securities (Aust) Pty Limited, an Australian Financial Services Licensee (AFSL No. 337985) and Global Prime Pty Limited, an Australian Financial Services Licensee (AFSL No. 385620).
 

 

 

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