Manuka Resources Ltd (ASX: MKR) has 100% ownership of a JORC compliant 52Moz silver Mineral Resource, existing plant and infrastructure comprising of the Manuka Plant, a mining accommodation camp site, the Ore Stockpile and a tailings storage facility. Manuka also has a 940km2 prospective exploration portfolio in a renowned mineral province hosting numerous large mineral deposits.
The Silver Project is located near Cobar in central NSW. Manuka aims to recommence processing operations in the second half of 2017.
Silver has long been valued as a precious metal and is used in (amongst other things):
In addition, silver has historically been traded as a pseudo currency and is a metal which historical data indicates has been supply-constrained.
Manuka has identified a potential source of near term revenue, namely the processing of approximately 500,000 tonnes of existing silver-lead ore stockpiled on the Manuka Silver Project run of mine pad to produce silver doré bars for subsequent third party refining and sale.
Manuka also intends to undertake drilling and exploration activities within its 940km2 portfolio of prospective tenements, located in a renowned mineral province hosting numerous large mineral deposits.
Manuka Resources Ltd is looking to raise $10 million to $13 million and will use these funds to refurbish the Manuka Plant, re-commence mineral processing and undertake drilling activities in order to define an Ore Reserve. Manuka will have a market capitalisation of between $65m and $68m at IPO.
Before making your investment decision, the Company and its Directors urge you to read the Prospectus in its entirety, and in particular, Section 8 which identifies circumstances that the Directors regards as major investment risks and to seek professional advice if required.
Section 734(6) disclosure: The issuer of the securities is Manuka Resources Ltd ACN 611 963 225. The securities to be issued are ordinary shares. The disclosure document for the offer can be obtained by clicking on the link above. The offers of the securities are made in, or accompanied by, a copy of the disclosure document. Investors should consider the disclosure document in deciding whether to acquire the securities. Anyone who wants to acquire the securities will need to complete the application form that will be in or will accompany the disclosure document (which can be done via the electronic application form which will become available by clicking the bid button above).
OnMarket has a limited allocation. The offer close and the 'Pay By' dates may change. Bids over $10,000 may be scaled back more heavily. Duplicate bids under the same investment profile or investor name may be cancelled.
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