Manuka Resources Limited (ASX:MKR), an Australian mining company focused on gold and silver production, has announced that its Wonawinta silver project and Mt Boppy gold project have successfully completed technical due diligence by Nebari Natural Resources Credit Fund II LP. This milestone is a critical step towards finalising a US$22.5 million senior secured loan facility. Manuka Resources is dedicated to exploring and developing precious metal resources.
The loan facility, initially outlined in a term sheet signed in December 2025, is contingent on Nebari’s completion of technical, commercial, and legal due diligence. With the technical due diligence now complete, the company awaits the finalisation of Nebari’s legal due diligence, expected imminently, and the satisfaction of remaining conditions precedent.
Documentation is underway, with definitive agreements anticipated to be signed around 20 February 2026, subject to final Nebari credit approval. Coupled with a recent A$15 million capital raising, the funds from the Nebari facility are intended to fully fund Manuka through to silver production at the 100%-owned Wonawinta Silver Mine and Plant, targeting first silver production in Q2 2026.
According to Manuka’s Executive Chairman, Dennis Karp, this debt component completes the company’s financing requirements. The funds will secure funding for silver and gold metal production, with projects commencing production on stockpiles. This positions the company to become cash flow positive in the initial quarter of production, particularly advantageous given current high gold and silver prices. Further updates regarding the facility will be provided following the execution of full-form documentation and drawdown.
